Victoria's Secret's Beauty Accelerates as a Key Growth Driver

Victoria’s Secret & Company VSXY noted that Beauty delivered strong performance in the first quarter of fiscal 2026, with the business accelerating to low double-digit growth. The performance was supported by continued strength in fine fragrance and the mist collection, which remained key contributors to the category’s growth. The acceleration points to improving momentum in Beauty, with fine fragrance and mist continuing to support the category's performance. The first-quarter results provided encouraging evidence of continued strength and growth across the Beauty business.

The performance was supported by increased product newness, integrated brand campaigns and targeted marketing around key selling moments. A consistent flow of new products is helping strengthen customer connection and relevance. In March, the company introduced Bombshell Bouquet, a spring extension of a top-selling franchise, as part of its Mother’s Day gifting offering. The company amplified the launch through integrated brand campaigns that helped drive engagement, brand heat and higher regular-price selling.

The company is strengthening Beauty through integrated cross-category marketing, deeper customer insights and targeted execution around key selling moments. Its Angel Reese campaign brought intimates and fragrance together into a unified brand story, while Bombshell Bronze became the top fine fragrance at launch. The company is also using deeper customer-journey insights to determine the right products, messages and touchpoints for Beauty shoppers.

Overall, Beauty is becoming an increasingly important growth driver for Victoria’s Secret, as stronger brand integration, product newness and cross-category storytelling deepen customer engagement and support continued growth in the Beauty business.

The Zacks Rundown for VSXY

Shares of this Zacks Rank #1 (Strong Buy) company have gained 55.8% in the past three months against the industry’s decline of 8.4%.

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From a valuation standpoint, VSXY trades at a forward price-to-earnings ratio of 16.39, higher than the industry’s average of 13.20.

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The Zacks Consensus Estimate for VSXY’s current and next fiscal year earnings implies a year-over-year rise of 56.7% and 23.4%, respectively.

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FIGS, Inc. FIGS operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. At present, FIGS carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FIGS’s current fiscal-year sales and earnings implies growth of 18.2% and 89.5%, respectively, from the year-ago figures. FIGS has delivered a trailing four-quarter earnings surprise of 201.8%, on average.

Fossil Group, Inc. FOSL designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. At present, FOSL carries a Zacks Rank of 2.

The Zacks Consensus Estimate for FOSL’s current fiscal-year sales indicates a decline of 4%, while the same for earnings indicates growth of 96.7% from the year-ago figures. FOSL delivered a trailing four-quarter negative earnings surprise of 236.2%, on average.

Boot Barn Holdings, Inc. BOOT operates specialty retail stores in the United States and internationally. At present, Boot Barn carries a Zacks Rank of 2.

The consensus estimate for Boot Barn’s current fiscal-year sales and earnings implies growth of 15.7% and 22.6%, respectively, from the year-ago figures. BOOT delivered a trailing four-quarter earnings surprise of 11.4%, on average.

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