Segment Information (Tables)

3 Months Ended

May 03, 2025

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information

The following table provides the Company’s segment information for the first quarter of 2025 and 2024:

	First Quarter
	2025		2024
	(in millions)
Net Sales	$	1,353	$	1,359
Costs of Goods Sold	(558)		(535)
Buying and Occupancy Expenses	(321)		(323)
General, Administrative and Store Operating Expenses (a)	(356)		(362)
Advertising and Marketing Expenses	(98)		(113)
Operating Income	$	20	$	26
Interest Expense	(17)		(22)
Provision for Income Taxes	(3)		(8)
Other Items (b)	(2)		—
Net Loss Attributable to Victoria’s Secret & Co.	$	(2)	$	(4)

_______________

(a)Excludes Advertising and Marketing Expenses.

(b)Other Items includes net income attributable to noncontrolling interest, interest income and other miscellaneous expense items.

Revenue from External Customers by Geographic Areas

The following table provides Net Sales by geographic location for the first quarter of 2025 and 2024:

	First Quarter
	2025		2024
	(in millions)
U.S. (a)	$	1,113	$	1,138
Outside of the U.S. (b)	240		221
Total Net Sales	$	1,353	$	1,359

_______________

(a)Includes U.S. territories.

(b)Includes sales from Company-operated stores outside of the U.S., royalty revenue from franchise and license arrangements, wholesale revenues and direct sales shipped internationally. Certain of these sales are subject to the impact of fluctuations in foreign currency.

Long-Lived Assets by Geographic Areas

The following table provides long-lived assets, excluding deferred tax assets, equity method investments, goodwill, trade names, and other intangible assets, by geographic location as of May 3, 2025, February 1, 2025 and May 4, 2024:

	May 3, 2025		February 1, 2025		May 4, 2024
	(in millions)
U.S. (a)	$	2,158	$	2,136	$	2,010
Outside of the U.S.	164		143		140
Total Long-lived Assets	$	2,322	$	2,279	$	2,150

_______________

(a)Includes U.S. territories.