3 Jun 2026

Victoria’s Secret just posted its best quarter in years — and the stock exploded 47% after-market.

Just four years ago, the company looked dead. Its entire brand was built around fantasy-driven marketing and supermodel runway shows — a formula that dominated for decades but eventually lost touch with what women actually wanted. Sales collapsed from $7.51B in 2020 to $6.18B in 2023. The annual fashion show was scrapped. Wall Street had completely written the company off. The turnaround ultimately came down to one thing: bras. CEO Hillary Super rebuilt the business around new bra launches, focusing on the category that drives the highest repeat purchases and the strongest customer lifetime value. When customers buy bras, they come back more often — and spend more across every other category. The results have been dramatic. Q1 2026 revenue reached $1.56B, up 15% YoY. The company swung from a $2M loss to a $48M profit in just 12 months. Management also raised full-year revenue guidance from $6.85B to $7.13B. Two years ago, investors thought Victoria’s Secret was finished. Today, the stock hit an all-time high. Source: Bull Theory

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