Following a strong first-quarter earnings report, the company’s stock jumped 47% in a single trading day on Tuesday.

The numbers speak for themselves: a financial breakout

The 49-year-old brand delivered impressive results for the quarter ending May 2:

• Sales growth: First-quarter revenue rose 15% to $1.56 billion, compared with $1.35 billion in the same period last year.
• Full-year outlook: Following the strong performance, management raised its annual revenue forecast to as much as $7.13 billion (up from a previous high of $6.95 billion).
• Share buybacks: The company repurchased 2.2 million shares worth $100 million in the first quarter, at an average price of $45.27 per share.
• Stock performance: Over the past year, Victoria’s Secret shares (now trading under the ticker VSXY) have surged roughly 284%.

Moving away from “woke” branding and back to its DNA

CEO Hillary Super, who took over after a series of management missteps, has focused on restoring Victoria’s Secret’s signature seductive identity. Previous attempts to reposition the brand around “inclusivity” in the wake of the #MeToo movement were followed by declining profits and alienated core customers. The situation was further complicated by product missteps and reputational fallout linked to former chairman Les Wexner and his ties to Jeffrey Epstein.

The previous leadership even cancelled the globally famous Victoria’s Secret Fashion Show, which remained on hiatus for five years.

According to Super, bra sales are once again driving the business. Customers are not only visiting stores more frequently but also adding more items to their purchases.

The company is now attempting to balance bold sensuality with modern comfort. As part of this strategy, it launched the “Unapologetically Sexy” advertising campaign last year, while stores introduced new bestsellers such as ultra-comfortable underwire bras.

“Our confidence in the trajectory of the business is rapidly increasing,” Super said, confirming that the return to the brand’s roots has proven successful.