Filing Flows › Victoria's Secret (VSXY) › Q2 FY27 › vs Q1 FY27
Victoria's Secret (VSXY) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Victoria's Secret's revenue rose $51.0M (+3%) from $1.6B in Q1 FY27 to $1.6B in Q2 FY27. Gross margin 47.1% against 37.5% (+9.6 pts).
Victoria's Secret, Q2 FY27: revenue $1.6B (+10% year over year), operating margin 16.0%, net earnings $183M, operating cash flow $402M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 47.1% | 37.5% | +9.6 pts |
| Operating margin | 16.0% | 4.9% | +11.1 pts |
| Net margin | 11.4% | 3.1% | +8.3 pts |
| Free cash flow margin | 20.4% | -12.2% | +32.6 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Revenue | $1.6B | $1.6B | $51.0M | +3% |
| Gross profit | $759M | $585M | $174M | +30% |
| Cost of revenue | $852M | $975M | −$123M | -13% |
| Operating profit | $257M | $76.0M | $181M | +238% |
| Operating expenses | $502M | $509M | −$7.0M | -1% |
| Pre-tax earnings | $248M | $64.0M | $184M | +288% |
| Other expense, net | $9.0M | $12.0M | −$3.0M | -25% |
| Sales & marketing | $94.0M | $106M | −$12.0M | -11% |
| General & admin | $408M | $403M | $5.0M | +1% |
| Net earnings | $183M | $48.0M | $135M | +281% |
| Minority interests | $5.0M | $9.0M | −$4.0M | -44% |
| Income tax | $60.0M | $7.0M | $53.0M | +757% |
| Depreciation & amortization | $51.0M | $54.0M | −$3.0M | -6% |
| Share-based compensation | $16.0M | $13.0M | $3.0M | +23% |
| Working capital & other | $152M | −$252M | $404M | — |
| Operating cash flow | $402M | −$137M | $539M | — |
| Free cash flow (OCF − capex) | $328M | −$191M | $519M | — |
| Capital expenditures | $74.0M | $54.0M | $20.0M | +37% |
Questions
How much did Victoria's Secret's revenue grow quarter over quarter in Q2 FY27?
Victoria's Secret's revenue rose $51.0M (+3%) from $1.6B in Q1 FY27 to $1.6B in Q2 FY27. Gross margin 47.1% against 37.5% (+9.6 pts).