Filing Flows › Victoria's Secret (VSXY) › Q2 FY27
Victoria's Secret (VSXY) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 4, 2026
Victoria's Secret (VSXY) reported revenue of $1.6B for the second quarter fiscal 2027 (Q2 FY27), +10% from a year earlier and +3% from the quarter before. Operating margin was 16.0%, net earnings $183M (11.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +3% | +10% |
| Gross profit | $759M | +30% | +46% |
| Operating profit | $257M | +238% | +527% |
| Net earnings | $183M | +281% | 11× |
| Operating cash flow | $402M | — | +158% |
| Free cash flow | $328M | — | +273% |
What changed
Revenue was $1.6B in Q2 FY27, up 10% year over year and up 3% from the previous quarter.
Gross margin was 47.1%, up 11.5 points from Q2 FY26. Operating profit was $0.26B, a 16.0% margin (up 13.1 points year over year). Of the extra revenue versus Q2 FY26, 142% reached operating profit, above the 3% margin then. Operating expenses grew 5% against revenue growth of 10%. The fastest-growing cost line was Sales & marketing (+12%). Net earnings were $0.18B, up 1044% year over year. The effective tax rate was 24.2%.
Operating cash flow was $0.40B (up 158% year over year), 214% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.15B. Capital expenditures of $0.07B left free cash flow of $0.33B.
Questions
What was Victoria's Secret's revenue in the second quarter fiscal 2027?
Victoria's Secret (VSXY) reported revenue of $1.6B for the second quarter fiscal 2027 (Q2 FY27), +10% from a year earlier and +3% from the quarter before.
Was Victoria's Secret profitable in the second quarter fiscal 2027?
Operating profit was $257M (16.0% of revenue) and net earnings $183M.
Source: Victoria's Secret 10-Q on SEC EDGAR.