Victoria's Secret & annual gross margin
2019
2020
2021
2022
2023
2024
2025
Victoria's Secret & Gross Margin Growth & History (VSXY)
Victoria's Secret &'s gross margin was 36.38% for fiscal 2025.
View full Victoria's Secret & company overviewVictoria's Secret & annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2026-01-31 | 36.38% | −0.28 pp |
| 2024 | 2025-02-01 | 36.66% | +0.39 pp |
| 2023 | 2024-02-03 | 36.27% | +0.67 pp |
| 2022 | 2023-01-28 | 35.59% | −5.09 pp |
| 2021 | 2022-01-29 | 40.68% | +11.66 pp |
| 2020 | 2021-01-30 | 29.02% | +1.55 pp |
| 2019 | 2020-02-01 | 27.47% | — |
Victoria's Secret & quarterly gross margin
Q2.20
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-05-02 | 37.50% | +2.47 pp |
| Q4 2025 | 2026-01-31 | 37.68% | −0.95 pp |
| Q3 2025 | 2025-11-01 | 36.41% | +1.67 pp |
| Q2 2025 | 2025-08-02 | 35.57% | +0.22 pp |
| Q1 2025 | 2025-05-03 | 35.03% | −1.83 pp |
| Q4 2024 | 2025-02-01 | 38.63% | −1.02 pp |
| Q3 2024 | 2024-11-02 | 34.74% | +0.99 pp |
| Q2 2024 | 2024-08-03 | 35.36% | +1.23 pp |
| Q1 2024 | 2024-05-04 | 36.87% | +1.19 pp |
| Q4 2023 | 2024-02-03 | 39.65% | +2.84 pp |
| Q3 2023 | 2023-10-28 | 33.75% | −0.92 pp |
| Q2 2023 | 2023-07-29 | 34.13% | −1.05 pp |
| Q1 2023 | 2023-04-29 | 35.68% | +0.50 pp |
| Q4 2022 | 2023-01-28 | 36.81% | −2.39 pp |
| Q3 2022 | 2022-10-29 | 34.67% | −4.54 pp |
| Q2 2022 | 2022-07-30 | 35.17% | −6.34 pp |
| Q1 2022 | 2022-04-30 | 35.18% | −8.07 pp |
| Q4 2021 | 2022-01-29 | 39.20% | +2.47 pp |
| Q3 2021 | 2021-10-30 | 39.21% | +24.95 pp |
| Q2 2021 | 2021-07-31 | 41.51% | — |
| Q1 2021 | 2021-05-01 | 43.24% | — |
| Q3 2020 | 2020-10-31 | 36.73% | — |
| Q2 2020 | 2020-08-01 | 14.26% | — |
Victoria's Secret & gross margin trends
Over the last five reported fiscal years, Victoria's Secret &'s gross margin increased from 29.02% to 36.38%, a change of +7.36 percentage points. The latest reported quarter, Q1 2026, shows 37.50%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Victoria's Secret & filings at SEC.gov ↗