Victoria's Secret (VSXY) Operating Expenses (2020 - 2026)

Victoria's Secret's Operating Expenses history runs 7 years deep, the most recent figure standing at $403.0 million for Q2 2026.

• On a quarterly basis, Operating Expenses rose 13.2% year-over-year to $403.0 million in Q2 2026; TTM through May 2026 was $2.3 billion, a 13.12% increase from a year earlier, with the FY2026 full-year figure at $2.1 billion, up 7.04% from the prior year.
• Operating Expenses fell to $403.0 million in Q2 2026 per VSXY's latest filing, from $959.0 million in the prior quarter.
• Across five years, Operating Expenses topped out at $959.0 million in Q1 2026 and bottomed at $356.0 million in Q2 2025.
• The 5-year median for Operating Expenses is $467.5 million (2023), against an average of $506.8 million.
• Biggest YoY gain for Operating Expenses was 53.26% in 2025; the steepest drop was 25.05% in 2025.
• Year by year, Operating Expenses stood at $414.0 million in 2022, then rose by 19.32% to $494.0 million in 2023, then retreated by 23.28% to $379.0 million in 2024, then surged by 46.44% to $555.0 million in 2025, then slipped by 27.39% to $403.0 million in 2026.
• Per Business Quant, the three latest VSXY Operating Expenses figures stand at $403.0 million (Q2 2026), $959.0 million (Q1 2026), and $555.0 million (Q4 2025).