Victoria's Secret & annual operating margin
2019
2020
2021
2022
2023
2024
2025
Victoria's Secret & Operating Margin Growth & History (VSXY)
Victoria's Secret &'s operating margin was 4.14% for fiscal 2025.
View full Victoria's Secret & company overviewVictoria's Secret & annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2026-01-31 | 4.14% | −0.84 pp |
| 2024 | 2025-02-01 | 4.98% | +1.00 pp |
| 2023 | 2024-02-03 | 3.98% | −3.56 pp |
| 2022 | 2023-01-28 | 7.53% | −5.29 pp |
| 2021 | 2022-01-29 | 12.82% | +14.69 pp |
| 2020 | 2021-01-30 | −1.87% | +10.01 pp |
| 2019 | 2020-02-01 | −11.88% | — |
Victoria's Secret & quarterly operating 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 | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-05-02 | 4.87% | +3.39 pp |
| Q4 2025 | 2026-01-31 | 10.09% | −2.67 pp |
| Q3 2025 | 2025-11-01 | −1.29% | +2.20 pp |
| Q2 2025 | 2025-08-02 | 2.81% | −1.57 pp |
| Q1 2025 | 2025-05-03 | 1.48% | −0.43 pp |
| Q4 2024 | 2025-02-01 | 12.77% | +0.33 pp |
| Q3 2024 | 2024-11-02 | −3.49% | +1.81 pp |
| Q2 2024 | 2024-08-03 | 4.38% | +2.55 pp |
| Q1 2024 | 2024-05-04 | 1.91% | −0.08 pp |
| Q4 2023 | 2024-02-03 | 12.43% | +0.41 pp |
| Q3 2023 | 2023-10-28 | −5.30% | −8.56 pp |
| Q2 2023 | 2023-07-29 | 1.82% | −4.62 pp |
| Q1 2023 | 2023-04-29 | 1.99% | −4.34 pp |
| Q4 2022 | 2023-01-28 | 12.02% | −3.28 pp |
| Q3 2022 | 2022-10-29 | 3.26% | −4.23 pp |
| Q2 2022 | 2022-07-30 | 6.44% | −6.13 pp |
| Q1 2022 | 2022-04-30 | 6.33% | −8.21 pp |
| Q4 2021 | 2022-01-29 | 15.30% | +5.92 pp |
| Q3 2021 | 2021-10-30 | 7.49% | +30.29 pp |
| Q2 2021 | 2021-07-31 | 12.58% | — |
| Q1 2021 | 2021-05-01 | 14.54% | — |
| Q3 2020 | 2020-10-31 | 9.39% | — |
| Q2 2020 | 2020-08-01 | −22.80% | — |
Victoria's Secret & operating margin trends
Over the last five reported fiscal years, Victoria's Secret &'s operating margin increased from −1.87% to 4.14%, a change of +6.00 percentage points. The latest reported quarter, Q1 2026, shows 4.87%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income 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 ↗