CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	May 02, 2026	Jan. 31, 2026	May 03, 2025
Current Assets:
Cash and Cash Equivalents	$ 207	$ 518	$ 138
Accounts Receivable, Net	185	186	153
Inventories	1,098	1,071	1,043
Other	136	108	121
Total Current Assets	1,626	1,883	1,455
Property and Equipment, Net	736	731	763
Operating Lease Assets	1,650	1,631	1,534
Goodwill	367	367	367
Trade Names	246	246	279
Other Intangible Assets, Net	0	0	90
Deferred Income Taxes	54	65	23
Other Assets	91	90	69
Total Assets	4,770	5,013	4,580
Current Liabilities:
Accounts Payable	412	493	423
Accrued Expenses and Other	573	673	543
Current Debt	4	4	4
Current Operating Lease Liabilities	264	295	260
Income Taxes	33	42	26
Total Current Liabilities	1,286	1,507	1,256
Deferred Income Taxes	5	5	16
Long-term Debt	986	971	1,078
Long-term Operating Lease Liabilities	1,597	1,576	1,482
Other Long-term Liabilities	51	44	75
Total Liabilities	3,925	4,103	3,907
Shareholders’ Equity:
Preferred Stock — $0.01 par value; 10 shares authorized; 0 shares issued and outstanding	0	0	0
Common Stock — $0.01 par value; 1,000 shares authorized; 79, 80, and 80 shares issued and outstanding, respectively	1	1	1
Paid-in Capital	322	345	302
Accumulated Other Comprehensive Income	6	6	1
Retained Earnings	461	504	341
Total Victoria’s Secret & Co. Shareholders’ Equity	790	856	645
Noncontrolling Interest	55	54	28
Total Equity	845	910	673
Total Liabilities and Equity	$ 4,770	$ 5,013	$ 4,580