Company / Gross Margin
Victoria's Secret Gross Margin History
FY2019-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Gross Margin
36.4%
FY2025
5-year range
35.6% / 40.7%
FY2021-FY2025
Trend
-0.8%
vs FY2024
Sector context
#57 of 111
Consumer Discretionary
What the data says
At 36.4%, Victoria's Secret's gross margin ranks #57 of 111 in the Consumer Discretionary sector. Gross Margin has fluctuated over the past 7 years, ranging from 27.5% in FY2019 to 40.7% in FY2021.
Based on SEC 10-K filings.
36.4% in FY2025 with a 5-year CAGR of +7.4%.
Remained stable around 36.4% over the past 2 years.
Consumer Discretionary sector context is included.
Gross Margin over time
Growth rates
- 3-Year Change
- +0.8pp
- 5-Year Change
- +7.4pp
- 10-Year Change
- -
Sector benchmark
In line with sector averageTop 51% of 111This company 36.4% Sector average 36.1%
▼
In line with sector average
Key checks
Key Insights
- In FY2025, gross margin decreased 0.8% year-over-year.
- Currently 0.3pp above the Consumer Discretionary sector average.
- Peak gross margin was recorded in FY2021.
- Lowest gross margin in the period was in FY2019.
Company context
Key Data Points
- High earnings quality (cash-backed earnings)
- Strong return on equity: 26.0%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Gross MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 36.4% | -0.8% |
| FY2024 | 36.7% | +1.1% |
| FY2023 | 36.3% | +1.9% |
| FY2022 | 35.6% | -12.5% |
| FY2021 | 40.7% | +40.2% |
| FY2020 | 29.0% | +5.6% |
| FY2019 | 27.5% | - |
As of FY2025 · SEC 10-K · Updated Mar 28, 2026