Key Highlights

● The company began trading as VSXY on 2 June 2026, replacing the former VSCO symbol.

● Second-quarter net sales rose 10.4 per cent year over year to $1.611 billion.

● Adjusted operating income was $124.0 million, up from $55.1 million a year earlier.

● Full-year 2026 net sales guidance was raised to $7.100 billion to $7.180 billion.

Victoria's Secret & Co. (NYSE:VSXY) told the market in a filing dated 21 May 2026 that its common stock would trade under the new symbol VSXY from 2 June 2026, with the listing remaining on the New York Stock Exchange. The filing states that the CUSIP is unchanged, that no shareholder action is required and that the announcement does not involve a change of company name. Chief executive Hillary Super described the ticker as a marker of who the business is today. The older VSCO symbol therefore refers to the same ordinary shares. The company sells lingerie, apparel and beauty products under the Victoria's Secret and PINK brands.

First-quarter and second-quarter results

The first quarter of fiscal 2026, reported on 2 June for the period ended 2 May, showed net sales of $1.560bn, up 15.3 per cent from $1.353bn a year earlier, with comparable sales up 13 per cent across stores and direct. Operating income reached $76.3m against $19.8m, and diluted earnings per share were $0.56 compared with a loss of $0.02. The second quarter, reported on 3 September for the period ended 1 August, brought net sales of $1.611bn, up 10.4 per cent from $1.459bn, with comparable sales up 9 per cent. Gross profit was $759.3m, roughly 47.1 per cent of sales on a calculated basis. GAAP operating income was $256.6m and GAAP diluted earnings per share were $2.18, but those figures include a $135.8m benefit from recoveries of tariff payments made under the International Emergency Economic Powers Act, net of related costs and other items. The company excludes that item from adjusted results, which showed operating income of $124.0m and diluted earnings per share of $0.95, against $55.1m and $0.33 a year earlier.

Guidance and capital returns

Management raised its full-year outlook in the September release. It now expects fiscal 2026 net sales of $7.100bn to $7.180bn, up from $7.030bn to $7.130bn previously, against $6.553bn in fiscal 2025. Adjusted operating income guidance is $560m to $590m, compared with $550m to $580m before and $403m last year, while adjusted diluted earnings per share are guided to $4.45 to $4.70. These are management projections, not reported results. The outlook for the third quarter is more restrained, with net sales of $1.570bn to $1.600bn and operating income of $10m to $20m,. In the first quarter the company repurchased 2.2 million shares for $100m at an average price of $45.27, leaving $150m available under a programme authorised in March 2024. The second-quarter release in the material reviewed did not give buyback, cash or debt figures, so those are not updated here. No dividend appears in the documents reviewed.

Tariff Recoveries Flatter the Headline Numbers

Victoria's Secret's ticker change to VSXY came with no shift in listing, name or shareholder structure, but the underlying business showed real momentum, with comparable sales up across both quarters reported. GAAP operating income benefited from a $135.8 million tariff-recovery item that the company excludes from its adjusted figures, so the wide gap between GAAP and adjusted profit is worth tracking as the company heads into the more promotional holiday period under its Path to Potential strategy.