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    Learn Why The Bull Case For Victoria's Secret Stock Could Change Following Full Price Push

    Simply Wall St·10/24/2026 04:43:55
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    • Victoria's Secret reported a stronger than expected second quarter with double digit revenue growth, raised its full year outlook, and linked its revived fashion show more tightly to higher priced product sales that are selling through quickly.
    • The retailer is pulling fashion show merchandise out of holiday promotions in order to rely more on regular price demand, which could influence merchandise margins, holiday mix, and how much of the turnaround ultimately comes from fewer discounts rather than just higher traffic.
    • We will now look at how Victoria's Secret investment narrative could be affected by its shift toward fashion show linked regular price selling.

    Scan other retailers that aim to cut discounting while leaning on brand heat by reviewing 27 high quality undervalued stocks which is positioned for stronger full price selling.

    Victoria's Secret Investment Narrative Recap

    To own Victoria's Secret, you need to believe the shift to fashion show linked full price selling can support steady merchandising and keep traffic engaged without leaning back on heavy discounts. The recent double digit revenue quarter and raised outlook point to a business that is currently executing against that idea, at least in the near term.

    The key short term catalyst is whether regular price demand for runway product holds through the holidays while margins absorb tariff costs and a still high debt load. The main risk is that pulling promotions too hard slows unit volume, which could push the model back toward its historically modest profile.

    The decision to pull 2026 Fashion Show merchandise out of holiday promotions is the announcement that matters most here. It ties Victoria's Secret brand heat, store traffic and ticket size directly to full price product. That is where the turnaround thesis lives in practice rather than just in marketing.

    If that merchandise continues to sell through quickly at regular prices, it supports the idea that the marketing flywheel, bra and beauty refresh, and digital engagement can sustain mix and margin quality. If sell through slows, the business may need to lean back into discounting, which would test both the turnaround narrative and how much operating leverage is really available.

    Victoria's Secret Forward Expectations In The Current Story

    Victoria's Secret's analyst narrative points to US$8.1b in revenue and US$536.9 million in earnings by 2029, built on 5.6% yearly revenue growth and an earnings increase of about US$158.9 million from the current US$378.0 million base.

    Uncover why Victoria's Secret's fair value is essentially in line with its current price.

    NYSE:VSXY 1-Year Stock Price Chart
    NYSE:VSXY 1-Year Stock Price Chart

    Exploring Other Perspectives

    Some of the most optimistic analysts frame the big swing factor differently. They focus on Victoria's Secret turning the revived fashion show into a long running customer engine, with forecasts before this news already pointing to about US$8.3b of revenue and US$508.6 million of earnings by 2029. Views vary widely, so explore several angles before deciding what this shift in full price selling might mean for you.

    Explore 2 other Victoria's Secret fair value estimates, including one that suggests it could be worth as much as $94.33.

    The Verdict Is Yours

    Don't just follow the ticker. Dig into the data and build a conviction that's truly your own.

    Looking For More Investment Ideas Beyond Victoria's Secret?

    Once the Victoria's Secret story is clear, it can help to widen the lens and scan other opportunities that match your preferred mix of quality, risk, and income. The Simply Wall St Screener can surface stocks that fit your style so you are not relying on one turnaround alone.