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Victoria's Secret embraces nostalgia and entertainment as Q2 sales rise

Victoria's Secret & Co. is leveraging nostalgia and entertainment to re-engage shoppers, according to comments from CEO Hillary Super after the company's Q2 earnings. The lingerie retailer expanded its fragrance portfolio with iterations like Tease Strawberry Bisou and archive drops such as Pink's square bottle scents, which sold out online in under a day. The company also positioned itself as an entertainment brand, premiering the YouTube docuseries 'Angels Among Us' this month. Victoria's Secret reported Q2 net sales of $1.6 billion, up 10% year over year, with 9% comp growth and net income topping $85 million. The company raised its full-year sales guidance to $7.1 billion to $7.18 billion and expects adjusted operating income of up to $590 million, citing strong performance in bras, Pink, beauty, and all channels.

• Victoria's Secret & Co. reported Q2 net sales of $1.6 billion, up 10% year over year.
• Comparable sales rose 9% in Q2, with brick-and-mortar comps growing 7%.
• Net income in Q2 nearly tripled to more than $85 million.

Dillard's Gains Market Share in Q2

Dillard’s reported modest Q2 retail sales growth as comparable sales rose 1% and total retail sales (excluding construction) reached $1.5 billion. The company’s gross margin expanded to 40.9% and net income increased 34% to $97.7 million, partly driven by $37.2 million in tariff refunds that accounted for most of the margin improvement. Category performance was mixed: gains in accessories, lingerie, home, shoes, beauty and men’s, while children’s, juniors and women’s apparel declined. GlobalData analysis and company commentary indicated the apparel weakness reflected lower consumer spending rather than defections to competitors; inventory at quarter end rose about 5% year over year. UBS analysts had expected flat comps, so Dillard’s 1% comp rise beat those expectations.

• Dillard’s Q2 retail sales (excluding construction) were $1.5 billion, with comps up 1% year over year.
• The company received $37.2 million in tariff refunds, which accounted for 260 of the 280 basis-point gross margin increase.
• Gross margin reached 40.9% in Q2.

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