Filing Flows › Victoria's Secret (VSXY) › Q4 FY25
Victoria's Secret (VSXY) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Mar 21, 2025
Victoria's Secret (VSXY) reported revenue of $2.1B for the fourth quarter fiscal 2025 (Q4 FY25), +1% from a year earlier and +56% from the quarter before. Operating margin was 12.7%, net earnings $193M (9.2% of revenue).
Victoria's Secret, Q4 FY25: revenue $2.1B (+1% year over year), operating margin 12.7%, net earnings $193M, operating cash flow $674M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | +56% | +1% |
| Gross profit | $813M | +74% | -2% |
| Operating profit | $268M | — | +3% |
| Net earnings | $193M | — | +7% |
| Operating cash flow | $674M | — | +14% |
| Free cash flow | $646M | — | +16% |
What changed
Revenue was $2.1B in Q4 FY25, up 1% year over year and up 56% from the previous quarter.
Gross margin was 38.6%, down 1.1 points from a year earlier. Operating profit was $0.27B, a 12.7% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 39% reached operating profit, above the 12% margin then. Operating expenses fell 4% while revenue rose 1%. Net earnings were $0.19B, up 7% year over year. The effective tax rate was 20.5%.
Operating cash flow was $0.67B (up 14% year over year), 347% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.40B. Capital expenditures of $0.03B left free cash flow of $0.65B.
Questions
What was Victoria's Secret's revenue in the fourth quarter fiscal 2025?
Victoria's Secret (VSXY) reported revenue of $2.1B for the fourth quarter fiscal 2025 (Q4 FY25), +1% from a year earlier and +56% from the quarter before.
Was Victoria's Secret profitable in the fourth quarter fiscal 2025?
Operating profit was $268M (12.7% of revenue) and net earnings $193M.
Source: Victoria's Secret 10-K on SEC EDGAR.