How Victorias Secret makes money

Period

FY2025

How does Victorias Secret make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Victorias Secret & Co. Common Stock · FY2025 · year ended 2026-01-31

Revenue$6.6BGross profit$2.4B · 36%Cost of revenue$4.2B · 64%Operating income$271M · 4%Operating expenses$2.1B · 32%SG&A$2.1B · 32%Pre-tax income$180M · 3%Other expense$91M · 1%Net income$161M · 2%Income tax$0 · 0%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.