Victoria's Secret (VSXY) Operating Expenses (2020 - 2026)
Victoria's Secret (VSXY) posted quarterly Operating Expenses of $403.0 million for Q2 2026, up 13.2% year-over-year from $356.0 million in Q2 2025, and down 57.98% quarter-over-quarter from $959.0 million in Q1 2026.
Victoria's Secret (VSXY) Operating Expenses (2020 - 2026) Analysis & Trends
Victoria's Secret's Operating Expenses history runs 7 years deep, the most recent figure standing at $403.0 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 13.2% year-over-year to $403.0 million; the TTM figure through May 2026 stood at $2.3 billion (up 13.12% YoY), while the FY2026 annual figure was $2.1 billion, up 7.04% from the prior year.
- Operating Expenses for Q2 2026 stood at $403.0 million, down from $959.0 million in the prior quarter.
- The five-year high for Operating Expenses was $959.0 million in Q1 2026, with the low 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.
- Peak annual rise in Operating Expenses reached 53.26% in 2025, while the deepest fall reached 25.05% in 2025.
- Victoria's Secret's Operating Expenses stood at $414.0 million in 2022, then increased by 19.32% to $494.0 million in 2023, then fell by 23.28% to $379.0 million in 2024, then jumped by 46.44% to $555.0 million in 2025, then decreased by 27.39% to $403.0 million in 2026.
- Business Quant data shows VSXY's Operating Expenses at $403.0 million in Q2 2026, $959.0 million in Q1 2026, and $555.0 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Tjx Companies | 155.79 Bn | 150.21 Bn | 4.48 Bn | 2.79 Bn |
| 2 | Ross Stores | 73.01 Bn | 68.88 Bn | 1.78 Bn | 975.86 Mn |
| 3 | Burlington Stores | 20.93 Bn | 20.19 Bn | 1.26 Bn | 2.71 Bn |
| 4 | Lululemon Athletica | 13.36 Bn | 11.84 Bn | 1.34 Bn | 1.06 Bn |
| 5 | Gap | 7.23 Bn | 4.67 Bn | 1.42 Bn | 972.00 Mn |
| 6 | Victoria's Secret | 7.03 Bn | 6.82 Bn | 585.00 Mn | 509.00 Mn |
| 7 | Urban Outfitters | 6.38 Bn | 5.97 Bn | 542.57 Mn | 402.89 Mn |
| 8 | Boot Barn Holdings | 4.90 Bn | 4.76 Bn | - | - |
| 9 | Abercrombie & Fitch | 4.70 Bn | 4.08 Bn | 682.63 Mn | 182.75 Mn |
| 10 | American Eagle Outfitters | 2.69 Bn | 2.58 Bn | 456.17 Mn | 376.49 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| May 2, 2026 | 403.00 Mn |
| Jan 31, 2026 | 959.00 Mn |
| Nov 1, 2025 | 555.00 Mn |
| Aug 2, 2025 | 394.00 Mn |
| May 3, 2025 | 356.00 Mn |
| Feb 1, 2025 | 869.00 Mn |
| Nov 2, 2024 | 379.00 Mn |
| Aug 3, 2024 | 439.00 Mn |
| May 4, 2024 | 475.00 Mn |
| Feb 3, 2024 | 567.00 Mn |
| Oct 28, 2023 | 494.00 Mn |
| Jul 29, 2023 | 461.00 Mn |
| Apr 29, 2023 | 474.00 Mn |
| Jan 28, 2023 | 500.00 Mn |
| Oct 29, 2022 | 414.00 Mn |
| Jul 30, 2022 | 437.00 Mn |
| Apr 30, 2022 | 428.00 Mn |
| Jan 29, 2022 | 519.00 Mn |
| Oct 30, 2021 | 457.00 Mn |
| Jul 31, 2021 | 467.00 Mn |