Victoria's Secret & Co. (VSXY) financial statements: income statement, balance sheet and cash flow

Victoria's Secret & Co.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jan 31, 2026 · FY), Victoria's Secret & Co. reported revenue of $6.6B (+5.2% year on year) and net income of $189.0M (+11.8% year on year).

Income statement

Victoria's Secret & Co. income statement, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Net Sales	$6.6B	$6.2B	$6.2B	$6.3B
Costs of Goods Sold, Buying and Occupancy	($4.2B)	($3.9B)	($3.9B)	($4.1B)
Gross Profit	$2.4B	$2.3B	$2.2B	$2.3B
General, Administrative and Store Operating Expenses	($2.1B)	($2.0B)	($2.0B)	($1.8B)
Operating Income	$271.0M	$310.0M	$246.0M	$478.0M
Interest Expense	($70.0M)	($86.0M)	($99.0M)	($60.0M)
Other Income (Loss)	$7.0M	($3.0M)	$0	($1.0M)
Income Before Income Taxes	$208.0M	$221.0M	$147.0M	$417.0M
Provision for Income Taxes	$19.0M	$52.0M	$31.0M	$79.0M
Net Income	$189.0M	$169.0M	$116.0M	$338.0M
Less: Net Income Attributable to Noncontrolling Interest	$28.0M	$4.0M	$7.0M	($10.0M)
Net Income Attributable to Victoria’s Secret & Co.	$161.0M	$165.0M	$109.0M	$348.0M
Net Income Per Basic Share (in dollars per share)	$2.00	$2.11	$1.41	$4.24
Net Income Per Diluted Share (in dollars per share)	$1.93	$2.05	$1.39	$4.14

Victoria's Secret & Co. income statement, quarters

Line item	Aug 1, 2026 · Q3	May 2, 2026 · Q2	Nov 1, 2025 · Q4	Aug 2, 2025 · Q3
Net Sales	$1.6B	$1.6B	$1.5B	$1.5B
Costs of Goods Sold, Buying and Occupancy	($852.0M)	($975.0M)	($936.0M)	($940.0M)
Gross Profit	$759.0M	$585.0M	$536.0M	$519.0M
General, Administrative and Store Operating Expenses	($502.0M)	($509.0M)	($555.0M)	($478.0M)
Operating Income	$257.0M	$76.0M	($19.0M)	$41.0M
Interest Expense	($15.0M)	($15.0M)	($18.0M)	($18.0M)
Other Income	$6.0M	$3.0M	$0	$1.0M
Income Before Income Taxes	$248.0M	$64.0M	($37.0M)	$24.0M
Provision for Income Taxes	$60.0M	$7.0M	($6.0M)	$6.0M
Net Income	$188.0M	$57.0M	($31.0M)	$18.0M
Less: Net Income Attributable to Noncontrolling Interest	$5.0M	$9.0M	$6.0M	$2.0M
Net Income Attributable to Victoria’s Secret & Co.	$183.0M	$48.0M	($37.0M)	$16.0M
Net Loss Per Basic Share Attributable to Victoria's Secret & Co. (in dollars per share)	$2.29	$0.59	-$0.46	$0.20
Net Loss Per Diluted Share Attributable to Victoria's Secret & Co. (in dollars per share)	$2.18	$0.56	-$0.46	$0.20

Balance sheet

Victoria's Secret & Co. balance sheet, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Cash and Cash Equivalents	$518.0M	$227.0M	$270.0M	$427.0M
Accounts Receivable, Net	$186.0M	$159.0M	$152.0M	$141.0M
Inventories	$1.1B	$955.0M	$985.0M	$1.1B
Other	$108.0M	$100.0M	$126.0M	$117.0M
Total Current Assets	$1.9B	$1.4B	$1.5B	$1.7B
Property and Equipment, Net	$731.0M	$774.0M	$843.0M	$846.0M
Operating Lease Assets	$1.6B	$1.5B	$1.4B	$1.2B
Goodwill	$367.0M	$367.0M	$367.0M	$365.0M
Trade Names	$246.0M	$281.0M	$284.0M	$289.0M
Other Intangible Assets, Net	$0	$95.0M	$116.0M	$137.0M
Deferred Income Taxes	$65.0M	$22.0M	$20.0M	$18.0M
Other Assets	$90.0M	$71.0M	$86.0M	$87.0M
Total Assets	$5.0B	$4.5B	$4.6B	$4.7B
Accounts Payable	$493.0M	$419.0M	$513.0M	$481.0M
Accrued Expenses and Other	$673.0M	$633.0M	$810.0M	$737.0M
Current Debt	$4.0M	$4.0M	$4.0M	$4.0M
Current Operating Lease Liabilities	$295.0M	$287.0M	$267.0M	$310.0M
Income Taxes	$42.0M	$32.0M	$20.0M	$47.0M
Total Current Liabilities	$1.5B	$1.4B	$1.6B	$1.6B
Deferred Income Taxes	$5.0M	$11.0M	$37.0M	$53.0M
Long-term Debt	$971.0M	$973.0M	$1.1B	$1.3B
Long-term Operating Lease Liabilities	$1.6B	$1.4B	$1.3B	$1.2B
Other Long-term Liabilities	$44.0M	$75.0M	$79.0M	$206.0M
Total Liabilities	$4.1B	$3.9B	$4.2B	$4.3B
Preferred Stock—$0.01 par value; 10 shares authorized; none issued	0	0	0	0
Common Stock—$0.01 par value; 1,000 shares authorized; 80 and 79 shares issued; 80 and 79 shares outstanding, respectively	1.0M	1.0M	1.0M	1.0M
Paid-in Capital	$345.0M	$297.0M	$238.0M	$195.0M
Accumulated Other Comprehensive Income (Loss)	$6.0M	($1.0M)	$0	$1.0M
Retained Earnings	$504.0M	$343.0M	$178.0M	$186.0M
Total Victoria’s Secret & Co. Shareholders’ Equity	$856.0M	$640.0M	$417.0M	$383.0M
Noncontrolling Interest	$54.0M	$24.0M	$21.0M	$18.0M
Total Equity	$910.0M	$664.0M	$438.0M	$401.0M
Total Liabilities and Equity	$5.0B	$4.5B	$4.6B	$4.7B

Victoria's Secret & Co. balance sheet, quarters

Line item	Aug 1, 2026	May 2, 2026	Nov 1, 2025	Aug 2, 2025
Cash and Cash Equivalents	$522.0M	$207.0M	$249.0M	$188.0M
Accounts Receivable, Net	$171.0M	$185.0M	$190.0M	$166.0M
Inventories	$1.1B	$1.1B	$1.4B	$1.1B
Other	$123.0M	$136.0M	$129.0M	$127.0M
Total Current Assets	$2.0B	$1.6B	$1.9B	$1.5B
Property and Equipment, Net	$760.0M	$736.0M	$766.0M	$777.0M
Operating Lease Assets	$1.7B	$1.6B	$1.6B	$1.6B
Goodwill	$367.0M	$367.0M	$367.0M	$367.0M
Trade Names	$246.0M	$246.0M	$277.0M	$278.0M
Other Intangible Assets, Net	$0	$0	$80.0M	$85.0M
Deferred Income Taxes	$53.0M	$54.0M	$22.0M	$22.0M
Other Assets	$82.0M	$91.0M	$82.0M	$75.0M
Total Assets	$5.2B	$4.8B	$5.1B	$4.8B
Accounts Payable	$489.0M	$412.0M	$546.0M	$480.0M
Accrued Expenses and Other	$614.0M	$573.0M	$646.0M	$600.0M
Current Debt	$4.0M	$4.0M	$4.0M	$4.0M
Current Operating Lease Liabilities	$282.0M	$264.0M	$284.0M	$258.0M
Income Taxes	$54.0M	$33.0M	$11.0M	$3.0M
Total Current Liabilities	$1.4B	$1.3B	$1.5B	$1.3B
Deferred Income Taxes	$5.0M	$5.0M	$13.0M	$14.0M
Long-term Debt	$971.0M	$986.0M	$1.3B	$1.0B
Long-term Operating Lease Liabilities	$1.6B	$1.6B	$1.6B	$1.6B
Other Long-term Liabilities	$43.0M	$51.0M	$43.0M	$74.0M
Total Liabilities	$4.1B	$3.9B	$4.4B	$4.0B
Preferred Stock — $0.01 par value; 10 shares authorized; 0 shares issued and outstanding	0	0	0	0
Common Stock — $0.01 par value; 1,000 shares authorized; 80, 80, and 80 shares issued and outstanding, respectively	1.0M	1.0M	1.0M	1.0M
Paid-in Capital	$341.0M	$322.0M	$330.0M	$320.0M
Accumulated Other Comprehensive Income	$4.0M	$6.0M	$2.0M	$2.0M
Retained Earnings	$644.0M	$461.0M	$320.0M	$357.0M
Total Victoria’s Secret & Co. Shareholders’ Equity	$990.0M	$790.0M	$653.0M	$680.0M
Noncontrolling Interest	$61.0M	$55.0M	$36.0M	$30.0M
Total Equity	$1.1B	$845.0M	$689.0M	$710.0M
Total Liabilities and Equity	$5.2B	$4.8B	$5.1B	$4.8B

Cash flow statement

Victoria's Secret & Co. cash flow statement, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Net Income	$189.0M	$169.0M	$116.0M	$338.0M
Depreciation and Amortization	$238.0M	$258.0M	$284.0M	—
Adore Me Long-Lived Assets Impairment Charges	$120.0M	—	—	$0
Share-based Compensation Expense	$55.0M	$60.0M	$56.0M	$48.0M
Deferred Income Taxes	($49.0M)	($29.0M)	($16.0M)	($28.0M)
Payments for Contingent Compensation related to Adore Me Acquisition	$1.0M	$39.0M	—	—
Equity Method Investment Impairment Charges	$0	$19.0M	—	—
Gain on Sale of Assets	$0	($7.0M)	—	—
Amortization of Fair Value Adjustment to Acquired Inventories	$0	$0	$29.0M	—
Accounts Receivable	($24.0M)	($8.0M)	($13.0M)	$22.0M
Inventories	($112.0M)	$29.0M	$36.0M	$0
Accounts Payable, Accrued Expenses and Other	$114.0M	($78.0M)	($11.0M)	($163.0M)
Income Taxes	$15.0M	$14.0M	($26.0M)	($67.0M)
Other Assets and Liabilities	($46.0M)	$37.0M	($66.0M)	$13.0M
Net Cash Provided by Operating Activities	$499.0M	$425.0M	$389.0M	$437.0M
Capital Expenditures	($187.0M)	($178.0M)	($256.0M)	($164.0M)
Proceeds from Sale of Assets	$0	$25.0M	—	—
Acquisition, Net of Cash Acquired	$0	$0	$1.0M	($369.0M)
Other Investing Activities	$3.0M	$0	$1.0M	($4.0M)
Net Cash Used for Investing Activities	($184.0M)	($153.0M)	($254.0M)	($555.0M)
Repayments of Borrowings from Asset-based Revolving Credit Facility	($545.0M)	($605.0M)	($615.0M)	$0
Borrowings from Asset-based Revolving Credit Facility	$545.0M	$460.0M	$465.0M	$295.0M
Tax Payments related to Share-based Awards	($15.0M)	($10.0M)	($12.0M)	($42.0M)
Payments for Contingent and Deferred Consideration related to Adore Me Acquisition	($4.0M)	($161.0M)	—	—
Proceeds from Stock Option Exercises	$4.0M	$5.0M	$3.0M	$5.0M
Payments of Long-term Debt	($4.0M)	($4.0M)	($4.0M)	($4.0M)
Repurchases of Common Stock	$0	$0	($125.0M)	($250.0M)
Other Financing Activities	($5.0M)	$0	($3.0M)	($1.0M)
Net Cash Used for Financing Activities	($24.0M)	($315.0M)	($291.0M)	$58.0M
Effects of Exchange Rate Changes on Cash and Cash Equivalents	$0	$0	($1.0M)	($3.0M)
Net Increase (Decrease) in Cash and Cash Equivalents	$291.0M	($43.0M)	($157.0M)	($63.0M)
Cash and Cash Equivalents, Beginning of Period	$227.0M	$270.0M	$427.0M	$490.0M
Cash and Cash Equivalents, End of Period	$518.0M	$227.0M	$270.0M	$427.0M

Victoria's Secret & Co. cash flow statement, quarters

Line item	Aug 1, 2026 · YTD	May 2, 2026 · Q2	Nov 1, 2025 · YTD	Aug 2, 2025 · YTD
Net Income	$245.0M	$57.0M	($11.0M)	$21.0M
Depreciation and Amortization	$105.0M	$54.0M	$185.0M	$125.0M
Share-based Compensation Expense	$29.0M	$13.0M	$41.0M	$29.0M
Deferred Income Taxes	$13.0M	$11.0M	$2.0M	$3.0M
Accounts Receivable	$15.0M	$2.0M	($29.0M)	($4.0M)
Inventories	($76.0M)	($26.0M)	($420.0M)	($100.0M)
Accounts Payable, Accrued Expenses and Other	($63.0M)	($181.0M)	$132.0M	$19.0M
Income Taxes	$8.0M	($11.0M)	($20.0M)	($40.0M)
Other Assets and Liabilities	($11.0M)	($56.0M)	($54.0M)	($47.0M)
Net Cash Provided by Operating Activities	$265.0M	($137.0M)	($174.0M)	$6.0M
Capital Expenditures	($128.0M)	($54.0M)	($163.0M)	($111.0M)
Net Cash Used for Investing Activities	($128.0M)	($54.0M)	($163.0M)	($111.0M)
Repurchases of Common Stock	($100.0M)	($100.0M)	—	—
Borrowings from Asset-based Revolving Credit Facility	$55.0M	$55.0M	$545.0M	$245.0M
Repayments of Borrowings from Asset-based Revolving Credit Facility	($55.0M)	($40.0M)	($170.0M)	($170.0M)
Tax Payments related to Share-based Awards	($30.0M)	($28.0M)	($13.0M)	($10.0M)
Dividends Paid	($7.0M)	($7.0M)	—	—
Proceeds from Stock Option Exercises	$3.0M	—	$2.0M	$1.0M
Payments of Long-term Debt	($2.0M)	($1.0M)	($3.0M)	($2.0M)
Other Financing Activities	$0	$0	($1.0M)	$3.0M
Net Cash Provided by (Used for) Financing Activities	($136.0M)	($121.0M)	$360.0M	$67.0M
Effects of Exchange Rate Changes on Cash and Cash Equivalents	$3.0M	$1.0M	($1.0M)	($1.0M)
Net Increase (Decrease) in Cash and Cash Equivalents	$4.0M	($311.0M)	$22.0M	($39.0M)
Cash and Cash Equivalents, Beginning of Period	$518.0M	$518.0M	$227.0M	$227.0M
Cash and Cash Equivalents, End of Period	$522.0M	$207.0M	$249.0M	$188.0M

Victoria's Secret & Co. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.