Latest news with #activistInvestor
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
Podcast: Japan's Nippon Steel Is Set to Complete Purchase of U.S. Steel
Nippon Steel plans to complete its purchase of U.S. Steel after reaching an agreement with the Trump administration to resolve national-security concerns. Plus: Warner Bros. Discovery bondholders approval company's split. Victoria's Secret is under pressure from its latest activist investor. 🎧 Listen: Ariana Aspuru hosts the Morning Briefing podcast.
Yahoo
6 days ago
- Business
- Yahoo
VSCO rises on report activist investor Barington Capital Group has built a stake
-- Victoria's Secret shares are trading over 3% higher premarket on Monday after the Wall Street Journal reported that activist investor Barington Capital Group has taken a stake in the lingerie retailer. According to the Wall Street Journal, Barington owns more than 1% of Victoria's Secret and plans to continue building its position. The firm reportedly believes the company hasn't lived up to its potential since separating from Bath & Body Works (NYSE:BBWI) in 2021, when it was valued at over $6.5 billion. Its market cap has since dropped to about $1.5 billion. Barington reportedly intends to push for significant changes, including a board overhaul and a renewed focus on Victoria's Secret's core bra business, said the WSJ. The firm also believes the retailer's beauty segment could be worth as much as the company's current market value. The article notes that Barington views current CEO Hillary Super and the board as lacking the necessary experience and strategic clarity to drive a turnaround. It plans to ask the company to consider replacing a majority, or all of its board, with new independent directors, according to the WSJ. Victoria's Secret, already under pressure from major shareholder Brett Blundy, recently adopted a so-called poison pill to fend off takeover efforts. Barington reportedly views the measure as counterproductive and plans to urge its repeal. A spokesperson told the WSJ that while the company had not yet heard from Barington, it looked forward to engagement and remained confident in its strategy under Super's leadership. Related articles VSCO rises on report activist investor Barington Capital Group has built a stake Is the market overreacting to the Middle East crisis? UBS weighs in Trump's sons launch mobile service offering unlimited plan at $47.45
Wall Street Journal
7 days ago
- Automotive
- Wall Street Journal
Stocks to Watch: Victoria's Secret, Renault, U.S. Steel, Sarepta
🔎 Victoria's Secret & Co. (VSCO): An activist investor has built a stake in the lingerie retailer, with plans to push the company to refresh its board and refocus on its core bra business. ↘️ Renault (FR:RNO): The French car maker's chief executive plans to step down in mid-July; he is set to become the new boss of Kering (FR:KER), according to a media report. Renault's stock fell 7%, while shares of Gucci-owner Kering jumped 9% in Paris. ↘️ Roche (CH:RO): The pharmaceutical company paused the use of Elevidys, a treatment for Duchenne muscular dystrophy, after two fatal liver failures. Roche's stock fell in Switzerland; shares of Sarepta Therapeutics (SRPT), Roche's partner for the gene therapy, tumbled 29% in premarket trading.
Bloomberg
7 days ago
- Business
- Bloomberg
Victoria's Secret Pressured by Another Investor Urging Changes
Victoria's Secret & Co. is being targeted by another activist investor seeking a shake-up of the business, according to a person familiar with the matter. Barington Capital Group has built a stake in the lingerie retailer and plans to urge it to make changes to its board and strategy, said the person, who asked not to be identified because the information was private.
Yahoo
7 days ago
- Business
- Yahoo
Victoria's Secret Is Under Mounting Pressure From Latest Activist Investor
Activist investor Barington Capital Group has built a stake in Victoria's Secret and believes the lingerie retailer hasn't lived up to its full potential, according to people familiar with the matter. The investor's arrival adds to the pressure that Victoria's Secret is already facing from another big disgruntled shareholder and after a recent security incident caused the company to temporarily shut down its website. Barington owns a stake of over 1% in Victoria's Secret and intends to keep buying more shares, the people said.
