SuperworthVictoria's Secret profit margin VSXY
Gross, operating and net profit as a share of revenue over the last twelve months, from 2021.
- Net margin, 12 months
- 5.5%
- Operating margin, 12 months
- 7.9%
- Net margin on a year earlier
- +3.1 pts
- Peer median
- 9.4%
Over the twelve months to Aug 1, 2026, Victoria's Secret kept 5.5% of its revenue as net profit, with an operating margin of 7.9% and a gross margin of 39.6%.
Five years earlier its net margin was 11.4%.
The median for 6 apparel retail stocks of a similar size is 9.4%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 2.5% | 4.1% | 36.4% |
| FY2024 | 2.6% | 5.0% | 36.7% |
| FY2023 | 1.8% | 4.0% | 36.3% |
| FY2022 | 5.5% | 7.6% | 35.6% |
| FY2021 | 9.5% | 12.8% | 40.7% |
| FY2020 | −1.3% | −1.9% | 29.0% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 5.5% | +3.1 pts | 7.9% | |
| Q1 FY26 | 3.1% | +0.4 pts | 4.8% | |
| Q4 FY25 | 2.5% | −0.2 pts | 4.1% | |
| Q3 FY25 | 2.7% | +0.2 pts | 4.9% | |
| Q2 FY25 | 2.4% | +0.2 pts | 4.5% | |
| Q1 FY25 | 2.7% | +1.0 pts | 4.9% | |
| Q4 FY24 | 2.6% | +0.9 pts | 5.0% | |
| Q3 FY24 | 2.5% | +0.8 pts | 4.8% | |
| Q2 FY24 | 2.3% | −0.9 pts | 4.6% | |
| Q1 FY24 | 1.7% | −2.6 pts | 4.0% | |
| Q4 FY23 | 1.8% | −3.7 pts | 4.0% | |
| Q3 FY23 | 1.7% | −4.8 pts | 3.8% |
Against its peers
Companies in Apparel - Retail nearest Victoria's Secret's size, closest first, today.
| Company | Profit margin |
|---|---|
| VSXYVictoria's Secret | 5.5% |
| URBNUrban Outfitters | 8.8% |
| GAPGAP | 8.1% |
| ANFAbercrombie & Fitch | 10.0% |
| BOOTBoot Barn | 10.4% |
| AEOAmerican Eagle Outfitters | 5.9% |
| BKEBuckle | 16.6% |
| Peer median | 9.4% |
Where Victoria's Secret ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Victoria's Secret
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.