Update: Victoria's Secret Urged by Barington Capital to 'Refresh' Board, Cancel Shareholder Rights Plan

MT Newswires

(Updates with Victoria's Secret spokesperson statement in the penultimate paragraph.)

Victoria's Secret shareholder Barington Capital Group urged the company to "refresh" its board and cancel a shareholder rights plan as part of its proposed action plan for Victoria's Secret to "regain its footing."

Barington Capital Group issued a letter Monday to Victoria's Secret Chairman Donna James, highlighting the company's deteriorating performance since its spin-off from L Brands and public listing in 2021. According to the activist investor, Victoria's Secret has lost over $2.4 billion in shareholder value since 2021 and has "meaningfully underperformed" against its peers.

As part of its proposed action plan, Barington Capital urged Victoria's Secret to streamline its operating model, refocus on core products, and accelerate growth in digital and international markets.

Barington Capital said it owns over 1% of Victoria's Secret's outstanding shares with its affiliates.

A spokesperson from Victoria's Secret told MT Newswires that Barington Capital has not sought to engage with the company. While Victoria's Secret looks forward to discussions with Barington Capital, the company remains confident in its strategy under the new leadership team, the spokesperson said.

Shares of Victoria's Secret were up 2.3% in recent Monday trading.

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Victoria's Secret Shares Up 4%, Co Faces Fresh Activist Fight From Barington Capital

Reuters

Victoria's Secret

+3.30%

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Sector Update: Consumer Stocks Edge Higher Pre-Bell Monday

MT Newswires

MGM Resorts International

Consumer stocks were edging higher pre-bell Monday as the Consumer Staples Select Sector SPDR Fund was advancing by 0.1% and the Consumer Discretionary Select Sector SPDR Fund was up almost 1% recently.

MGM Resorts International and Entain's BetMGM venture said it now expects at least $2.6 billion in 2025 net revenue, up from its previous outlook range of $2.4 billion to $2.5 billion. Shares of MGM Resorts International were up more than 3% premarket.

Darling Ingredients shares were up more than 1% after the company said its Darling Global Finance unit has launched a 750 million-euro ($868.4 million) offering of senior notes.

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Victoria's Secret Faces Fresh Activist Fight From Barington Capital

Reuters

Victoria's Secret

+3.30%

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Victoria's Secret Urged by Barington Capital to 'Refresh' Board, Cancel Shareholder Rights Plan

MT Newswires

Victoria's Secret

+3.30%

As part of its proposed action plan, Barington Capital urged Victoria's Secret to streamline its operating model, refocus on core products, and accelerate growth in digital and international markets.

Barington Capital said it owns over 1% of Victoria's Secret's outstanding shares with its affiliates.

Victoria's Secret did not immediately respond to MT Newswires' request for comment.

Shares of Victoria's Secret were up more than 3% in recent premarket activity Monday.

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Tesla, Meta Platforms, Eli Lilly rise premarket; Sarepta plunges

Investing.com

Investing.com -- U.S. stock futures rose Monday, rebounding after the losses late last week on raised geopolitical tensions and ahead of a Federal Reserve policy meeting.

Here are some of the biggest premarket U.S. stock movers today:

Meta Platforms (NASDAQ:META) stock rose 0.7%, with investors impressed with the Facebook owner’s $14.8 billion investment in Scale AI and hiring of the data-labeling startup’s CEO.
Tesla (NASDAQ:TSLA) stock rose 1.7%, adding to Friday’s gains following a Bloomberg report that the US government is taking steps to ease regulations that have hindered the deployment of self-driving vehicles without driver controls.
Eli Lilly (NYSE:LLY) stock rose 0.7% after the U.S. drugmaker said it will offer the higher dose versions of its popular weight-loss drug Zepbound on its website LillyDirect.
Roku (NASDAQ:ROKU) stock rose 8.9% after the company announced an exclusive partnership with Amazon (NASDAQ:AMZN) Ads, creating what the firms describe as the “largest authenticated Connected TV (CTV) footprint in the U.S.”
Victoria’s Secret (NYSE:VSCO) stock rose 3.3% after Reuters reported that activist investor Barington Capital Group is planning to launch a drive to overhaul the lingerie group’s board of directors and halt its shareholder’s rights plan.
Sarepta Therapeutics (NASDAQ:SRPT) stock plunged 40% after the company disclosed a second case of patient death due to acute liver failure after receiving its gene therapy for a rare form of muscular dystrophy.
United States Steel (NYSE:X) stock surged 5.1% after U.S. President Donald Trump approved the partnership between the steelmaker and Japan’s Nippon Steel.
ReNew Energy (NASDAQ:RNW) stock rose 3.4% after the Indian renewable energy company’s fourth quarter earnings beat expectations.
Celsius (NASDAQ:CELH) stock rose 3.7% after TD Cowen upgraded its stance on the beverage company to ‘buy’ from ‘hold’, saying the stock can rally more than 30% as its growth story is “heating back up.”

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Tesla. Meta Platforms, Eli Lilly rise premarket; Sarepta plunges

Investing.com

Investing.com -- U.S. stock futures rose Monday, rebounding after the losses late last week on raised geopolitical tensions and ahead of a Federal Reserve policy meeting.

Here are some of the biggest premarket U.S. stock movers today:

Meta Platforms (NASDAQ:META) stock rose 0.7%, with investors impressed with the Facebook owner’s $14.8 billion investment in Scale AI and hiring of the data-labeling startup’s CEO.
Tesla (NASDAQ:TSLA) stock rose 1.7%, adding to Friday’s gains following a Bloomberg report that the US government is taking steps to ease regulations that have hindered the deployment of self-driving vehicles without driver controls.
Eli Lilly (NYSE:LLY) stock rose 0.7% after the U.S. drugmaker said it will offer the higher dose versions of its popular weight-loss drug Zepbound on its website LillyDirect.
Victoria’s Secret (NYSE:VSCO) stock rose 3.3% after Reuters reported that activist investor Barington Capital Group is planning to launch a drive to overhaul the lingerie group’s board of directors and halt its shareholder’s rights plan.
Sarepta Therapeutics (NASDAQ:SRPT) stock plunged 40% after the company disclosed a second case of patient death due to acute liver failure after receiving its gene therapy for a rare form of muscular dystrophy.
United States Steel (NYSE:X) stock surged 5.1% after U.S. President Donald Trump approved the partnership between the steelmaker and Japan’s Nippon Steel.
ReNew Energy (NASDAQ:RNW) stock rose 3.4% after the Indian renewable energy company’s fourth quarter earnings beat expectations.
Celsius (NASDAQ:CELH) stock rose 3.7% after TD Cowen upgraded its stance on the beverage company to ‘buy’ from ‘hold’, saying the stock can rally more than 30% as its growth story is “heating back up.”