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Victoria's Secret In Las Vegas
(Kevin Carter/Getty Images)

Victoria’s Secret posts mixed Q1 results, says tariffs will ding profitability by $50 million

The lingerie retailer reported stronger sales, but missed EPS estimates as it works to stabilize its business.

Nia Warfield

Victoria’s Secret posted mixed Q1 results Thursday morning that showed better-than-expected revenue growth, but the company cut its full-year outlook for profitability, saying it would be hurt by tariffs.

Shares edged 0.5% lower in early premarket trading.

For the quarter, Victoria’s Secret reported a net loss of $0.02 per diluted share, missing Wall Street’s estimates of $0.04 in earnings. On the bright side, revenue came in at $1.35 billion, above Wall Street’s forecast of $1.32 billion and the company’s own guidance of $1.30 billion to $1.33 billion.

The company reiterated its full-year sales outlook but said its adjusted operating income guidance took a hit because it expects $50 million of net negative tariff impacts.

The company also forecast second-quarter results generally below expectations. It sees revenue of $1.38 billion to $1.41 billion and adjusted earnings per share of $0.00 to $0.15. For comparison, analysts were expecting sales of $1.415 billion and earnings of $0.30.

For the first quarter, comparable-store sales fell 1%, signaling continued softness in the brand’s core retail business.

Shares are down 45% year to date.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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