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VICTORIA'S SECRET & CO . VICTORIA'S SECRET & CO . REPORTS SECOND QUARTER FINANCIAL RESULTS PROVIDES INITIAL THIRD QUARTER OUTLOOK Reynoldsburg , Ohio ( August 18 , 2021 ) Victoria's Secret & Co. ( NYSE : VSCO ) today reported financial results for the second quarter ended July 31 , 2021. The results are on a carve - out basis and include the Victoria's Secret Segment and a portion of the unallocated overhead costs as part of L Brands . The Company reported net income of $ 151.1 million , or earnings per share of $ 1.71 in the second quarter of 2021. This result compares to a net loss of $ 199.5 million , or loss per share of $ 2.26 and an adjusted net loss of $ 85.3 million , or adjusted loss per share of $ 0.97 for the period ended August 1 , 2020 . Second quarter 2021 operating income was $ 202.7 million compared to an operating loss of $ 243.3 million and an adjusted operating loss of $ 111.3 million in last year's second quarter . Second quarter 2021 operating income on a historical segment reporting basis as part of Brands totaled $ 232.5 million , comparing favorably to previously communicated guidance of more than $ 200 million . The Company reported net sales of $ 1.614 billion for the second quarter compared to net sales of $ 1.066 billion for last year's second quarter . Second quarter 2020 sales were negatively impacted by the closure of stores for the majority of the quarter due to the COVID - 19 pandemic . Second quarter 2021 sales decreased 10 percent compared to sales of $ 1.785 billion in the second quarter of 2019 and reflect the net closure of 240 company - operated stores since the second quarter of 2019 . Total comparable sales for the second quarter of 2021 increased 5 percent compared to the second quarter of 2019. Comparable store sales for the second quarter of 2021 decreased 3 percent compared to the second quarter of 2019. Second quarter 2021 sales in the direct channel were $ 468.8 million , a 24 percent decrease compared to 2020 and a 26 percent increase compared to 2019 . CEO Martin Waters commented , " Following the finalization of the spin - off from L Brands , our momentum continues , fueled by strong fundamentals : inspiring merchandise she loves , our new brand positioning and disciplined business operations . With tighter inventory management and more emotionally appealing product , we are less promotional , resulting in significant margin increases . As a result , operating income in the second quarter exceeded expectations , helping us deliver our most profitable spring season in five years . Our vital signs are strong and , with our exceptional leadership and associate teams , I continue to be confident in our long - term growth in all channels . "