Victoria's Secret (VSXY)


Market Price (9/3/2026): $75.09 | Market Cap: $6.1 BilSector: Consumer Discretionary | Industry: Apparel Retail

Victoria's Secret (VSXY)


Market Price (9/3/2026): $75.09
Market Cap: $6.1 Bil
Sector: Consumer Discretionary
Industry: Apparel Retail

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, and Experiential Retail.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%

Stock price has recently run up significantly
12M Rtn12 month market price return is 279%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 80%

Key risks
VSXY key risks include [1] a vulnerable financial position due to high debt and poor cash flow coverage and [2] uncertain consumer reception of its significant brand repositioning toward inclusivity.

0 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, and Experiential Retail.
1 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
2 Stock price has recently run up significantly
12M Rtn12 month market price return is 279%
3 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 80%
4 Key risks
VSXY key risks include [1] a vulnerable financial position due to high debt and poor cash flow coverage and [2] uncertain consumer reception of its significant brand repositioning toward inclusivity.

VSXY in ETFs

Weight = VSXY's share of each fund

VTI0.01%
ITOT0.01%
IWM0.19%
IJR0.36%
VB0.09%
SLYV0.76%
VIOV0.76%
IJS0.71%
+12 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/1/2026

Victoria's Secret (VSXY) stock has gained about 55% since 5/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Performance and Uplifted Full-Year Outlook: Victoria's Secret reported robust results for fiscal Q1 2026 (ended May 1, 2026), with net sales increasing 15% year-over-year to $1.56 billion, surpassing previous guidance. Adjusted earnings per share (EPS) of $0.60 significantly exceeded the $0.32 estimate. Following this strong performance, reported on June 2, 2026, the company raised its full-year fiscal 2026 revenue guidance to a range of $7.03 billion to $7.13 billion and adjusted EPS guidance to $4.475 at the midpoint, signaling improved profitability and operational momentum. This announcement alone triggered a substantial 47% single-day surge in the stock price.

2. Successful Brand Turnaround and Enhanced Customer Engagement: The company has been executing a significant brand refresh under CEO Hillary Super, focusing on a more inclusive and empowering message. This strategy appears to be resonating, leading to the attraction of new customers and improved retention of existing ones. Evidence of this turnaround includes double-digit growth in new customer acquisition and a 45% year-over-year jump in total visits to the Victoria's Secret website during fiscal Q2 2026. The planned return of the Victoria's Secret Fashion Show in October 2026 further underscores the brand's renewed visibility and strategic efforts to regain cultural relevance.

Show more
Updated on 9/1/2026

Victoria's Secret (VSXY) stock has gained about 55% since 5/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Performance and Uplifted Full-Year Outlook: Victoria's Secret reported robust results for fiscal Q1 2026 (ended May 1, 2026), with net sales increasing 15% year-over-year to $1.56 billion, surpassing previous guidance. Adjusted earnings per share (EPS) of $0.60 significantly exceeded the $0.32 estimate. Following this strong performance, reported on June 2, 2026, the company raised its full-year fiscal 2026 revenue guidance to a range of $7.03 billion to $7.13 billion and adjusted EPS guidance to $4.475 at the midpoint, signaling improved profitability and operational momentum. This announcement alone triggered a substantial 47% single-day surge in the stock price.

2. Successful Brand Turnaround and Enhanced Customer Engagement: The company has been executing a significant brand refresh under CEO Hillary Super, focusing on a more inclusive and empowering message. This strategy appears to be resonating, leading to the attraction of new customers and improved retention of existing ones. Evidence of this turnaround includes double-digit growth in new customer acquisition and a 45% year-over-year jump in total visits to the Victoria's Secret website during fiscal Q2 2026. The planned return of the Victoria's Secret Fashion Show in October 2026 further underscores the brand's renewed visibility and strategic efforts to regain cultural relevance.

3. Broad-Based Sales Growth and Digital Acceleration: Victoria's Secret demonstrated broad strength across its portfolio in fiscal Q1 2026, with double-digit sales growth recorded in its namesake brand, PINK, and the Beauty segment. This sustained performance, coupled with accelerated online engagement, suggests effective execution of its digital strategy and a successful integration of its physical and online sales channels.

4. Sustained Positive Analyst Sentiment and Price Target Upgrades: Following the strong fiscal Q1 2026 results and ongoing turnaround efforts, Wall Street analysts have consistently raised their price targets for VSXY. Firms such as Telsey Advisory Group, UBS, and JPMorgan Chase & Co. increased their targets, with the consensus average price target ranging from approximately $90.70 to $94.60. This reflects growing confidence among analysts regarding the company's future growth prospects and the sustainability of its operational improvements.

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Stock Movement Drivers

Fundamental Drivers

The 54.2% change in VSXY stock from 5/31/2026 to 9/2/2026 was primarily driven by a 27.0% change in the company's Net Income Margin (%).
(LTM values as of)53120269022026Change
Stock Price ($)55.0084.8154.2%
Change Contribution By: 
Total Revenues ($ Mil)6,5536,7603.2%
Net Income Margin (%)2.5%3.1%27.0%
P/E Multiple27.332.619.1%
Shares Outstanding (Mil)8081-1.2%
Cumulative Contribution54.2%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/2/2026
ReturnCorrelation
VSXY54.2% 
Market (SPY)1.1%9.1%
Sector (XLY)-5.0%11.3%

Fundamental Drivers

The 35.3% change in VSXY stock from 2/28/2026 to 9/2/2026 was primarily driven by a 17.3% change in the company's Net Income Margin (%).
(LTM values as of)22820269022026Change
Stock Price ($)62.7084.8135.3%
Change Contribution By: 
Total Revenues ($ Mil)6,3906,7605.8%
Net Income Margin (%)2.7%3.1%17.3%
P/E Multiple29.932.69.0%
Shares Outstanding (Mil)81810.0%
Cumulative Contribution35.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/2/2026
ReturnCorrelation
VSXY35.3% 
Market (SPY)11.8%22.3%
Sector (XLY)-1.5%22.5%

Fundamental Drivers

The 268.4% change in VSXY stock from 8/31/2025 to 9/2/2026 was primarily driven by a 199.0% change in the company's P/E Multiple.
(LTM values as of)83120259022026Change
Stock Price ($)23.0284.81268.4%
Change Contribution By: 
Total Revenues ($ Mil)6,2236,7608.6%
Net Income Margin (%)2.7%3.1%16.3%
P/E Multiple10.932.6199.0%
Shares Outstanding (Mil)7981-2.5%
Cumulative Contribution268.4%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/2/2026
ReturnCorrelation
VSXY268.4% 
Market (SPY)19.6%26.8%
Sector (XLY)-0.3%29.6%

Fundamental Drivers

The 342.2% change in VSXY stock from 8/31/2023 to 9/2/2026 was primarily driven by a 483.2% change in the company's P/E Multiple.
(LTM values as of)83120239022026Change
Stock Price ($)19.1884.81342.2%
Change Contribution By: 
Total Revenues ($ Mil)6,2676,7607.9%
Net Income Margin (%)4.3%3.1%-27.0%
P/E Multiple5.632.6483.2%
Shares Outstanding (Mil)7881-3.7%
Cumulative Contribution342.2%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/2/2026
ReturnCorrelation
VSXY342.2% 
Market (SPY)75.9%32.4%
Sector (XLY)37.6%35.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VSXY Return31%-36%-26%56%31%55%98%
Peers Return36%-27%22%16%9%-6%42%
S&P 500 Return27%-19%24%23%16%11%103%

Monthly Win Rates [3]
VSXY Win Rate67%33%33%67%67%67% 
Peers Win Rate69%35%54%52%58%42% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
VSXY Max Drawdown--57%-69%-48%-64%-36% 
Peers Max Drawdown-30%-47%-44%-28%-36%-32% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GAP, GCO, ZUMZ, REF, TJX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/2/2026 (YTD)

How Low Can It Go

EventVSXYS&P 500
2025 US Tariff Shock
  % Loss-50.5%-18.8%
  % Gain to Breakeven102.0%23.1%
  Time to Breakeven188 days79 days
2024 Yen Carry Trade Unwind
  % Loss-13.7%-7.8%
  % Gain to Breakeven15.8%8.5%
  Time to Breakeven6 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-25.4%-9.5%
  % Gain to Breakeven34.1%10.5%
  Time to Breakeven15 days24 days
2023 SVB Regional Banking Crisis
  % Loss-59.4%-6.7%
  % Gain to Breakeven146.2%7.1%
  Time to Breakeven528 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-52.3%-24.5%
  % Gain to Breakeven109.5%32.4%
  Time to Breakeven1255 days427 days

Compare to GAP, GCO, ZUMZ, REF, TJX

In The Past

Victoria's Secret's stock fell -50.5% during the 2025 US Tariff Shock. Such a loss loss requires a 102.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventVSXYS&P 500
2025 US Tariff Shock
  % Loss-50.5%-18.8%
  % Gain to Breakeven102.0%23.1%
  Time to Breakeven188 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-25.4%-9.5%
  % Gain to Breakeven34.1%10.5%
  Time to Breakeven15 days24 days
2023 SVB Regional Banking Crisis
  % Loss-59.4%-6.7%
  % Gain to Breakeven146.2%7.1%
  Time to Breakeven528 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-52.3%-24.5%
  % Gain to Breakeven109.5%32.4%
  Time to Breakeven1255 days427 days

Compare to GAP, GCO, ZUMZ, REF, TJX

In The Past

Victoria's Secret's stock fell -50.5% during the 2025 US Tariff Shock. Such a loss loss requires a 102.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Victoria's Secret (VSXY)

Victoria's Secret & Co. (VSXY) operates as a global specialty retailer specializing in women's intimate apparel, personal care, and beauty products. Founded in 2021 and headquartered in Reynoldsburg, Ohio, the company maintains a significant international presence with approximately 1,400 retail stores as of early 2022, serving customers worldwide under its prominent Victoria's Secret and PINK brands.

The company offers a comprehensive range of products, including core intimate wear such as bras, panties, and lingerie. Its offerings extend to sleepwear, loungewear, athletic attire, and swimwear, catering to various aspects of women's wardrobes. Beyond apparel, Victoria's Secret also features a substantial beauty segment, providing fragrances, body care products, and various accessories.

Victoria's Secret primarily serves women globally, targeting a broad demographic with its diverse brand portfolio. The Victoria's Secret brand typically appeals to customers seeking sophisticated and sensual intimate wear and beauty products, while the PINK brand focuses on a younger, more casual demographic with its apparel and personal care items. This dual-brand strategy enables VSXY to capture a wide array of preferences within the women's apparel and beauty markets across its international footprint.

AI Analysis | Feedback

Here are a few analogies to describe Victoria's Secret:

  • Bath & Body Works for women's lingerie and beauty products.

  • Lululemon for intimate apparel and beauty.

AI Analysis | Feedback

  • Bras: Undergarments designed for breast support and shaping.
  • Panties: Undergarments worn on the lower body.
  • Lingerie: Lightweight, often decorative, intimate apparel.
  • Sleepwear: Clothing specifically designed for sleeping, such as pajamas and nightgowns.
  • Loungewear: Comfortable clothing suitable for relaxing at home.
  • Athletic Attire and Swimwear: Clothing designed for sports activities and swimming.
  • Fragrances: Perfumes, body mists, and other scented products.
  • Body Care Products: Lotions, washes, and other items for skin care.
  • Accessories: Complementary items such as bags or small decorative pieces.

AI Analysis | Feedback

Victoria's Secret (VSXY) sells primarily to individuals through its extensive network of retail stores and online channels. The company serves the following categories of customers:

  • Adult Women: This category encompasses customers who are seeking sophisticated, fashionable, and alluring intimate apparel, sleepwear, loungewear, fragrances, and beauty products. These customers are typically targeted by the core Victoria's Secret brand, valuing style, quality, and often a sense of luxury or sensuality in their purchases.
  • Young Adults and College-Aged Women: This category primarily includes customers who are looking for comfortable, trendy, and casual intimate apparel, loungewear, and athletic wear. These individuals are the core demographic for the PINK brand, emphasizing comfort, affordability, and items that align with current youth fashion and lifestyle trends.

AI Analysis | Feedback

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AI Analysis | Feedback

Here is the management team for Victoria's Secret & Co. (VSXY):

Hillary Super, Chief Executive Officer

Hillary Super has served as CEO of Victoria's Secret & Co. since 2023, where she leads the company's strategic growth initiatives and brand revitalization. Prior to her current role, she was CEO and board member of Savage X Fenty. She also served as the Global CEO of Anthropologie Group, successfully leading the turnaround of its women's apparel and accessories business. Her extensive career includes key merchandising and operational leadership positions at prominent retail companies such as Gap, Old Navy, American Eagle Outfitters, and Guess?.

Scott Sekella, Chief Financial and Operating Officer

Scott Sekella assumed the role of Chief Financial and Operating Officer at Victoria's Secret & Co. in August 2025, having initially joined as Chief Financial Officer in January 2025. He is responsible for the company's financial strategy, performance management, and profitability improvements. Before joining Victoria's Secret, Sekella was the Chief Financial Officer of JOANN Inc. from 2022 to 2024. He also held financial leadership roles at Under Armour and Crocs, and previously served as Senior Vice President-Finance & Operations at Freshology, Inc.

Melinda (Mel) McAfee, Chief Legal and Compliance Officer

Melinda McAfee oversees Victoria's Secret & Co.'s human resources and legal affairs, having joined as Chief Legal Officer in May 2021 and adding Chief Human Resources Officer duties in October 2022. She leads governance, employment, privacy, regulatory compliance, and the comprehensive legal strategy for the company. Prior to Victoria's Secret, she was Senior Vice President, General Counsel and Corporate Secretary of EXPRESS, Inc. Her background also includes over a decade as in-house counsel for Abercrombie & Fitch Co. and a partnership at Vorys, Sater, Seymour and Pease, LLP, specializing in Labor & Employment.

Elizabeth Preis, Chief Marketing and Customer Officer

Elizabeth Preis is the Chief Marketing and Customer Officer of Victoria's Secret & Co., bringing over 25 years of experience in guiding iconic consumer brands. She is known for her ability to blend consumer insight with compelling creative to build strong brand connections. Her previous roles include Global CMO at Anthropologie and leadership positions at Estée Lauder, J. Crew, and Saks Fifth Avenue.

Lucrecia Borgonovo, Chief People Officer

Lucrecia Borgonovo serves as the Chief People Officer at Victoria's Secret & Co., leveraging more than 20 years of global experience in talent, leadership, culture, and organizational effectiveness. She previously held the role of Chief Talent and Organizational Effectiveness Officer at Mastercard, where she was responsible for enterprise-wide talent and culture strategies supporting large-scale transformation and growth. Borgonovo also held leadership positions in human resources at Nike and Bristol-Myers Squibb.

AI Analysis | Feedback

Here are the key risks to Victoria's Secret & Co. (VSXY):

  1. Financial Health and Debt Coverage: Victoria's Secret faces a major risk due to its debt not being well covered by operating cash flow, with an operating cash flow to total debt ratio of 18%. The company also has a high debt-to-equity ratio of 312.7%. This indicates a potential vulnerability in its financial stability and ability to manage its debt obligations effectively.
  2. Brand Repositioning and Consumer Perception: Victoria's Secret is undergoing a significant rebranding effort to embrace inclusivity and move away from its traditional "Angels" image. The key risk lies in whether this rebranding will successfully resonate with a broader customer base without alienating its existing clientele. There is a concern that the shift could be perceived as inauthentic or "inclusivity washing," which could hinder sales growth and market acceptance.
  3. Supply Chain Disruptions and Tariffs: The company is exposed to risks related to its global supply chain, including the ability to source materials, produce, and distribute merchandise worldwide. The fashion industry, including Victoria's Secret, is particularly vulnerable to factors like tariffs and retaliatory measures, which have been cited as a primary hurdle in 2026. Fluctuations in freight, product input, and energy costs, as well as geopolitical conflicts, also pose ongoing threats to its supply chain and profitability.

AI Analysis | Feedback

The rapid rise of digitally native, direct-to-consumer (DTC) intimate apparel and loungewear brands that prioritize inclusivity, body positivity, and comfort over traditional beauty standards. These brands, often leveraging social media and influencer marketing, directly challenge Victoria's Secret's legacy brand image and its historically brick-and-mortar heavy distribution model by offering alternatives that resonate more strongly with evolving consumer values and preferences for a more diverse and authentic representation of women. This shift in market demand and the success of these nimble, digitally-focused competitors represent a fundamental disruption to the traditional intimate apparel retail landscape.

AI Analysis | Feedback

The addressable markets for Victoria's Secret's main products and services are as follows:

Intimate Apparel (Bras, Panties, Lingerie, Sleepwear, Loungewear, Athletic Attire, and Swimwear)

  • Global Market: The global intimate apparel market was valued at approximately USD 98.7 billion in 2025 and is projected to grow to USD 163.4 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2026 to 2034.
  • U.S. Market: The U.S. lingerie market size was estimated at USD 17.95 billion in 2025 and is projected to reach USD 31.40 billion by 2033, growing at a CAGR of 7.2% from 2025 to 2033.

Personal Care and Beauty Products (Fragrances and Body Care Products)

  • Global Market: The global beauty and personal care products market is estimated at USD 651.42 billion in 2026 and is set to exceed USD 1.16 trillion by 2035, registering over 6.5% CAGR between 2026 and 2035.
  • U.S. Market: The U.S. beauty and personal care products market was estimated at USD 117.05 billion in 2026 and is expected to reach USD 196.33 billion by 2033, growing at a CAGR of 7.7% from 2026 to 2033.

AI Analysis | Feedback

Victoria's Secret & Co. (VSXY) is focusing on several key strategies to drive future revenue growth over the next 2-3 years:

  1. International Expansion: The company is actively pursuing growth in international markets through both company-owned and partner-operated stores. This expansion targets high-growth markets in the Middle East, India, Latin America, and Asia, with recent plans to open standalone stores in Germany. International revenue has already shown significant growth, with a 44.9% year-over-year increase in Q1 2026. Victoria's Secret also leverages social commerce, as seen with successful livestreaming events in China.
  2. Product Innovation and Diversification: A core driver is the acceleration of product innovation, particularly in its bra department, to improve fit, comfort, and introduce new designs such as the Body by Victoria FlexFactor. Beyond lingerie, the company is diversifying its offerings to include beauty, sleepwear, loungewear, and athletic attire, and expanding existing lines with a broader range of sizes and styles to emphasize inclusivity.
  3. Enhanced Digital Engagement and E-commerce Capabilities: Victoria's Secret is prioritizing digital growth, with a target of 40% e-commerce penetration by 2026. This involves leveraging AI for personalized customer experiences, integrating technology from its Adore Me acquisition to improve customer acquisition and lifetime value, and implementing smartphone 3D scanning to enhance fit accuracy and reduce returns. Increased app downloads also contribute to digital traffic.
  4. Brand Rejuvenation and Refocusing: The company is undergoing a significant brand transformation, repositioning itself around inclusivity, modern womanhood, and creating distinct identities for its Victoria's Secret and PINK brands. A shift away from heavy promotions towards full-price selling, described as a "promo-detox," is building a healthier, brand-led business. The return of a more inclusive Victoria's Secret Fashion Show is also part of this strategy to build brand relevance and trust.
  5. Optimizing Retail Footprint: Victoria's Secret is strategically growing and optimizing its retail footprint. This includes opening new stores and converting traditional flagship locations to smaller, off-mall formats that have demonstrated higher sales per square foot. This approach aims to improve unit economics and reduce operating costs.

AI Analysis | Feedback

## Capital Allocation Decisions for Victoria's Secret (VSXY) ### Share Repurchases * Victoria's Secret's Board of Directors approved a share repurchase program in March 2024, authorizing the repurchase of up to $250 million of the company's common stock. * During the first quarter of 2026, the company repurchased 2.2 million shares for $100 million at an average price of $45.27 per share. * As of May 2, 2026, $150 million remained authorized for purchase under the existing $250 million share repurchase program. ### Outbound Investments * In December 2022, Victoria's Secret acquired Adore Me. This acquisition involved financial impacts related to purchase accounting items, including changes in the estimated fair value of contingent consideration and amortization of acquired intangible assets in 2023 and 2024. ### Capital Expenditures * Victoria's Secret & Co. has been noted for having "low capital intensity." * For fiscal year 2023, the company generated $850 million in free cash flow, partially driven by an inventory reduction of $1.1 billion. * The company reported operating cash flows of $425 million in fiscal year 2024, ending the year with $227 million in cash and cash equivalents and no outstanding borrowings on its ABL Facility.

Better Bets vs. Victoria's Secret (VSXY)

Peer Outperformance in Apparel Retail

VSXY has outperformed 71% of its 24 Apparel Retail peers over 5Y. Apparel Retail ranks 12th of 23 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Apparel Retail constituents that VSXY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 27 industry peers · 278.6% return
3Y
100%
of 27 industry peers · 328.1% return
5Y
71%
of 24 industry peers · 26.6% return
No Apparel Retail peer with a comparable growth profile has beaten VSXY by more than 20pp over 5Y.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Apparel Retail is VSXY's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Education Services 14 -10.2%93.0%66.7% LINC 296% · CVSA 262% · PRDO 226%
Homebuilding 18 -6.8%14.7%36.8% GRBK 188% · PHM 143% · TOL 133%
Automotive Retail 18 -15.8%3.9%15.7% MUSA 239% · PAG 181% · ORLY 123%
Hotels, Resorts & Cruise Lines 22 14.5%44.0%10.7% RCL 244% · MAR 161% · HLT 157%
Home Improvement Retail 5 -21.2%-8.7%6.9% HVT 10% · HD 8% · LOW 7%
Specialty Stores 7 -8.3%26.5%4.8% FIVE 26% · DKS 10% · HZO 7%
Distributors 4 -7.4%-25.2%-7.6% ARMK 143% · GPC 29% · LKQ -44%
Specialized Consumer Services 10 -9.0%27.0%-14.5% HRB 130% · FTDR 85% · SCI 38%
Restaurants 34 -6.8%-14.0%-14.6% EAT 349% · CAKE 168% · RAVE 145%
Home Furnishings 4 -5.2%16.4%-15.4% SGI 56% · LZB 3% · MHK -33%
Footwear 9 45.9%28.2%-17.1% WEYS 158% · DECK 23% · SHOO 18%
Apparel Retail ← 25 0.9%1.3%-28.5% ANF 293% · DXLG 186% · URBN 145%
Casinos & Gaming 20 -11.0%-28.6%-32.6% MCRI 105% · RSI 69% · RRR 54%
Leisure Facilities 11 -1.5%-12.2%-33.1% OSW 121% · JAKK 91% · ESCA 13%
Leisure Products 13 -16.1%-22.0%-34.1% GOLF 86% · HAS 15% · MCFT -12%
Automotive Parts & Equipment 38 -9.4%-9.2%-36.7% MOD 1356% · GTX 285% · STRT 91%
Apparel, Accessories & Luxury Goods 27 -5.3%-9.9%-40.3% TPR 243% · RL 224% · ELA 212%
Household Appliances 18 6.7%33.2%-42.3% KEQU 174% · FLXS 161% · HBB 116%
Broadline Retail 14 13.2%14.4%-49.6% DDS 306% · EBAY 52% · AMZN 47%
Computer & Electronics Retail 3 -18.0%3.0%-61.2% BBY -4% · UPBD -61% · GME -63%
Automobile Manufacturers 8 -64.5%-50.1%-70.6% GM 81% · F 49% · TSLA 46%
Other Specialty Retail 18 -31.1%-48.9%-78.9% TLF 109% · BBW 106% · WINA 79%
Consumer Electronics 11 6.5%-14.2%-80.7% AXIL 2492% · GRMN 74% · TBCH -56%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VSXYGAPGCOZUMZREFTJXMedian
NameVictoria.Gap Genesco Zumiez Reformat.TJX Comp. 
Mkt Price84.8122.0633.5218.1614.13131.3127.79
Mkt Cap6.97.80.30.3-145.06.9
Rev LTM6,76015,3262,449938-62,3636,760
Op Inc LTM3271,6842822-7,915327
FCF LTM3149578537-5,876314
FCF 3Y Avg2219694110-4,790221
CFO LTM5121,53514447-8,034512
CFO 3Y Avg4281,4449525-6,769428

Growth & Margins

VSXYGAPGCOZUMZREFTJXMedian
NameVictoria.Gap Genesco Zumiez Reformat.TJX Comp. 
Rev Chg LTM8.6%1.1%4.6%4.7%-7.7%4.7%
Rev Chg 3Y Avg2.7%0.5%1.5%0.7%-6.8%1.5%
Rev Chg Q15.3%-2.0%2.8%4.9%-5.4%4.9%
QoQ Delta Rev Chg LTM3.2%-0.5%0.5%1.0%-1.3%1.0%
Op Inc Chg LTM7.9%44.4%33.1%872.7%-22.2%33.1%
Op Inc Chg 3Y Avg-2.9%115.8%36.3%62.9%-15.7%36.3%
Op Mgn LTM4.8%11.0%1.1%2.3%-12.7%4.8%
Op Mgn 3Y Avg4.6%8.3%0.8%-1.6%-11.6%4.6%
QoQ Delta Op Mgn LTM0.7%2.5%0.1%0.5%-0.4%0.5%
CFO/Rev LTM7.6%10.0%5.9%5.1%-12.9%7.6%
CFO/Rev 3Y Avg6.7%9.5%4.0%2.7%-11.5%6.7%
FCF/Rev LTM4.6%6.2%3.5%3.9%-9.4%4.6%
FCF/Rev 3Y Avg3.4%6.4%1.7%1.1%-8.1%3.4%

Valuation

VSXYGAPGCOZUMZREFTJXMedian
NameVictoria.Gap Genesco Zumiez Reformat.TJX Comp. 
Mkt Cap6.97.80.30.3-145.06.9
P/S1.00.50.10.3-2.30.5
P/Op Inc21.04.712.613.5-18.313.5
P/EBIT20.64.411.613.5-17.913.5
P/E32.66.317.820.4-23.920.4
P/CFO13.45.12.46.2-18.06.2
Total Yield3.1%19.1%5.6%4.9%-5.5%5.5%
Dividend Yield0.0%3.2%0.0%0.0%-1.3%0.0%
FCF Yield 3Y Avg9.7%12.3%11.3%3.9%-3.3%9.7%
D/E0.40.71.60.7-0.10.7
Net D/E0.40.41.60.3-0.10.4

Returns

VSXYGAPGCOZUMZREFTJXMedian
NameVictoria.Gap Genesco Zumiez Reformat.TJX Comp. 
1M Rtn-4.8%7.7%-14.4%-11.3%-16.1%-16.4%-12.8%
3M Rtn7.4%5.1%-13.9%-21.4%-6.3%-16.6%-10.1%
6M Rtn41.3%-19.2%27.1%-29.9%-6.3%-18.3%-12.3%
12M Rtn278.6%0.5%4.4%4.7%-6.3%-4.1%2.5%
3Y Rtn328.1%108.0%-0.1%-3.6%-6.3%47.4%23.6%
1M Excs Rtn-4.0%7.9%-14.2%-8.0%-10.8%-15.5%-9.4%
3M Excs Rtn5.9%3.6%-15.3%-22.9%-7.8%-18.1%-11.6%
6M Excs Rtn29.7%-30.8%15.5%-41.5%-17.9%-29.9%-23.9%
12M Excs Rtn259.1%-19.0%-15.1%-14.8%-25.8%-23.6%-17.0%
3Y Excs Rtn310.3%60.0%-50.9%-70.1%-79.2%-21.7%-36.3%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
Single Segment6,5536,2306,1826,3446,785
Total6,5536,2306,1826,3446,785


Operating Income by Segment
$ Mil202620252024
Single Segment271310246
Total271310246


Net Income by Segment
$ Mil202620252024
Single Segment161165109
Total161165109


Price Behavior

Price Behavior
Market Price$84.81 
Market Cap ($ Bil)6.9 
First Trading Date07/21/2021 
Distance from 52W High-15.2% 
   50 Days200 Days
DMA Price$85.90$62.50
DMA Trendupup
Distance from DMA-1.3%35.7%
 3M1YR
Volatility49.8%75.0%
Downside Capture113.84156.22
Upside Capture140.09278.42
Correlation (SPY)16.1%27.3%
VSXY Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta1.100.980.671.391.581.48
Up Beta-1.35-1.98-3.35-0.190.711.66
Down Beta4.322.190.010.430.670.88
Up Capture146%220%400%331%723%892%
Bmk +ve Days10213268138427
Stock +ve Days10223265129379
Down Capture332%163%112%180%134%109%
Bmk -ve Days11213259113324
Stock -ve Days11203262122370

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VSXY
VSXY280.6%75.0%2.06-
Sector ETF (XLY)0.5%19.4%-0.1029.6%
Equity (SPY)20.6%12.8%1.1926.8%
Gold (GLD)23.8%29.1%0.736.5%
Commodities (DBC)41.7%20.4%1.60-13.8%
Real Estate (VNQ)9.7%13.6%0.4318.5%
Bitcoin (BTCUSD)-30.7%43.5%-0.720.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VSXY
VSXY3.9%65.5%0.32-
Sector ETF (XLY)5.6%24.1%0.1941.5%
Equity (SPY)12.7%17.2%0.5739.6%
Gold (GLD)19.2%18.8%0.833.1%
Commodities (DBC)10.8%19.5%0.435.3%
Real Estate (VNQ)1.9%18.9%-0.0131.4%
Bitcoin (BTCUSD)9.5%52.6%0.3712.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VSXY
VSXY7.2%66.9%0.47-
Sector ETF (XLY)12.0%22.2%0.4940.4%
Equity (SPY)15.1%17.9%0.7238.6%
Gold (GLD)12.2%16.3%0.612.3%
Commodities (DBC)7.8%18.1%0.354.5%
Real Estate (VNQ)4.8%20.7%0.1930.3%
Bitcoin (BTCUSD)63.0%66.1%1.0311.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity10.2 Mil
Short Interest: % Change Since 7312026-7.2%
Average Daily Volume1.6 Mil
Days-to-Cover Short Interest6.5 days
Basic Shares Quantity81.0 Mil
Short % of Basic Shares12.6%

Earnings Returns History

Updated 8/20/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
6/2/202647.4%40.4%43.1%
3/5/2026-12.2%-24.7%-23.3%
12/5/202518.0%26.9%46.6%
8/28/2025-0.5%12.7%15.2%
6/11/2025-5.4%-17.2%-14.6%
3/5/2025-8.2%-22.6%-33.0%
12/5/202411.6%8.8%-9.0%
8/28/2024-3.7%-4.4%4.7%
...
SUMMARY STATS   
# Positive875
# Negative121315
Median Positive13.0%10.9%15.2%
Median Negative-5.8%-13.9%-14.6%
Max Positive47.4%40.4%46.6%
Max Negative-29.7%-24.7%-33.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
6/2/202647.4%40.4%43.1%
3/5/2026-12.2%-24.7%-23.3%
12/5/202518.0%26.9%46.6%
8/28/2025-0.5%12.7%15.2%
6/11/2025-5.4%-17.2%-14.6%
3/5/2025-8.2%-22.6%-33.0%
12/5/202411.6%8.8%-9.0%
8/28/2024-3.7%-4.4%4.7%
6/5/2024-6.5%-20.8%-21.3%
3/6/2024-29.7%-24.2%-27.9%
11/29/202314.3%10.9%12.6%
8/30/20236.9%0.5%-7.0%
5/31/2023-8.7%-7.8%-14.6%
3/2/2023-5.2%-13.9%-9.5%
11/30/2022-6.3%-2.7%-22.2%
8/24/2022-2.0%-12.8%-21.7%
5/31/20228.9%-5.0%-32.1%
3/2/20221.8%-15.6%-5.5%
11/17/202114.7%9.9%-1.9%
8/18/2021-3.5%-2.4%-13.8%
SUMMARY STATS   
# Positive875
# Negative121315
Median Positive13.0%10.9%15.2%
Median Negative-5.8%-13.9%-14.6%
Max Positive47.4%40.4%46.6%
Max Negative-29.7%-24.7%-33.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
04/30/202606/05/202610-Q
01/31/202603/20/202610-K
10/31/202512/05/202510-Q
07/31/202509/05/202510-Q
04/30/202506/12/202510-Q
01/31/202503/21/202510-K
10/31/202412/09/202410-Q
07/31/202409/06/202410-Q
04/30/202406/07/202410-Q
01/31/202403/22/202410-K
10/31/202312/01/202310-Q
07/31/202309/01/202310-Q
04/30/202306/02/202310-Q
01/31/202303/17/202310-K
10/31/202212/02/202210-Q
07/31/202209/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
04/30/202606/05/202610-Q
01/31/202603/20/202610-K
10/31/202512/05/202510-Q
07/31/202509/05/202510-Q
04/30/202506/12/202510-Q
01/31/202503/21/202510-K
10/31/202412/09/202410-Q
07/31/202409/06/202410-Q
04/30/202406/07/202410-Q
01/31/202403/22/202410-K
10/31/202312/01/202310-Q
07/31/202309/01/202310-Q
04/30/202306/02/202310-Q
01/31/202303/17/202310-K
10/31/202212/02/202210-Q
07/31/202209/08/202210-Q
04/30/202206/03/202210-Q
01/31/202203/18/202210-K
10/31/202112/03/202110-Q
07/31/202109/10/202110-Q
04/30/202107/09/202110-12B/A

Recent Forward Guidance

Updated 7/12/2026

Latest: Q1 2026 Earnings Reported 6/2/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Net SalesReported1.59 Bil1.60 Bil1.61 Bil6.3% Higher NewGuidance: 1.51 Bil for Q1 2026
Q2 2026 Operating IncomeReported90.00 Mil95.00 Mil100.00 Mil156.8% Higher NewGuidance: 37.00 Mil for Q1 2026
2026 Net SalesReported7.03 Bil7.08 Bil7.13 Bil2.6% RaisedGuidance: 6.90 Bil for 2026
2026 Adjusted Operating IncomeReported550.00 Mil565.00 Mil580.00 Mil27.0% RaisedGuidance: 445.00 Mil for 2026


Prior: Q4 2025 Earnings Reported 3/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 RevenueReported1.49 Bil1.51 Bil1.52 Bil-31.0% Lower NewGuidance: 2.19 Bil for Q4 2025
Q1 2026 Operating IncomeReported32.00 Mil37.00 Mil42.00 Mil-86.7% Lower NewGuidance: 277.50 Mil for Q4 2025
2026 RevenueReported6.85 Bil6.90 Bil6.95 Bil6.7% Higher NewGuidance: 6.46 Bil for 2025
2026 Operating IncomeReported430.00 Mil445.00 Mil460.00 Mil22.8% Higher NewGuidance: 362.50 Mil for 2025

Q3 2025 Earnings Reported 12/5/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Net SalesReported2.17 Bil2.19 Bil2.20 Bil   
Q4 2025 Adjusted Operating IncomeReported265.00 Mil277.50 Mil290.00 Mil   
Q4 2025 Adjusted Net Income per Diluted ShareReported2.22.332.45   
2025 Net SalesReported6.45 Bil6.46 Bil6.48 Bil1.5% RaisedGuidance: 6.37 Bil for 2025
2025 Adjusted Operating IncomeReported350.00 Mil362.50 Mil375.00 Mil22.9% RaisedGuidance: 295.00 Mil for 2025
2025 Adjusted Net Income per Diluted ShareReported2.42.522.65   

Insider Activity

Updated 7/29/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Bbrc, International Pte LtdSee Footnote 2Sell729202689.15798,92071,224,319696,323,628Form
2Bbrc, International Pte LtdSee Footnote 1Sell724202688.89289,47925,731,788765,302,988Form
3Bbrc, International Pte LtdSee Footnote 1Sell630202688.50276,17124,441,134787,564,155Form
4Bbrc, International Pte LtdSee Footnote 3Sell604202680.0327,7582,221,473734,291,336Form
5Bbrc, International Pte LtdSee Footnote 3Sell604202680.111,107,67288,735,604737,249,045Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Bbrc, International Pte LtdSee Footnote 2Sell729202689.15798,92071,224,319696,323,628Form
2Bbrc, International Pte LtdSee Footnote 1Sell724202688.89289,47925,731,788765,302,988Form
3Bbrc, International Pte LtdSee Footnote 1Sell630202688.50276,17124,441,134787,564,155Form
4Bbrc, International Pte LtdSee Footnote 3Sell604202680.0327,7582,221,473734,291,336Form
5Bbrc, International Pte LtdSee Footnote 3Sell604202680.111,107,67288,735,604737,249,045Form
6Sheehan, Anne DirectBuy403202645.864,842222,0541,571,209Form
7James, Donna DirectBuy403202646.232,175100,5502,916,974Form
Core Cache Last Updated: 9/2/2026