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The company does business in the following retail formats: general merchandise stores, apparel stores. Upscale." During the 1990s, Victoria's Secret saw a 30% increase in store sales after the use of analyzing in their data warehouse in which specific store the styles, sizes and color of which bras were selling.

In 2000, the Los Angeles Times reported that Victoria's Secret continued the practice of putting "on a British air—or what the Ohio-based chain thinks Americans believe is British. As of 2010, there are 1,000 Victoria's Secret lingerie stores and 100 independent Victoria's Secret Beauty Stores in the United States, mostly in shopping centers.

The company discontinued its use of a print catalog and dropped certain categories of clothing such as swimwear.

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"Lacy thongs and padded push-up bras" were niche products during this period found "alongside feathered boas and provocative pirate costumes at Frederick's of Hollywood" outside of the mainstream product offerings available at department stores.In 2002, swimwear was introduced and available via the web site and catalog; in the last three years, the swimwear has become more readily available in stores.In 2016, Victoria's Secret stopped selling swimwear, shoes, accessories and apparel that were only sold in online Victoria's Secret stores to stay more focused on the lingerie, fragrances and sleepwear that are still available in stores and online.In 2000, Turney began to redefine Victoria's Secret catalog from "breasts—spilling over the tops of black, purple and reptile-print underthings" to one that would appeal to an "upscale customer who now feels more comfortable buying La Perla or Wolford lingerie."; "dimming the hooker looks" such as "tight jeans and stilettos"; and moving from "a substitute for Playboy in some dorm rooms," to something closer to a Vogue lifestyle layout, where lingerie, sleepwear, clothes and cosmetics appear throughout the catalog.In 2016, direct sales only grew 1.6% and fell by 7.4% in the last quarter of the year, typically a high revenue period due to the holidays.

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