Seldon Capital Acquires Stake in Victoria's Secret & Co.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 20 2026
0mins
Should l Buy VSCO?
Source: Fool
- New Investment Disclosure: Seldon Capital disclosed the acquisition of 155,950 shares of Victoria's Secret in Q4 2025, amounting to approximately $8.45 million, marking a new investment that reflects confidence in the brand's future growth potential.
- Significant Stake: This acquisition gives Seldon Capital a 2.92% stake in Victoria's Secret, representing a notable position within its reportable U.S. equity AUM, indicating a bullish outlook on the consumer goods sector.
- Performance Rebound: Victoria's Secret recently reported Q3 net sales of $1.472 billion, up 9% year-over-year, with management raising full-year sales guidance to $6.48 billion, showcasing strong performance amid market recovery.
- Enhanced Market Competitiveness: The company's stock price surged 93.2% over the past year, significantly outperforming the S&P 500, indicating an increasing competitive edge in the women's intimate apparel and beauty products sector, which is likely to continue attracting investor interest.
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Analyst Views on VSCO
Wall Street analysts forecast VSCO stock price to rise
11 Analyst Rating
4 Buy
7 Hold
0 Sell
Moderate Buy
Current: 46.560
Low
29.00
Averages
53.40
High
73.00
Current: 46.560
Low
29.00
Averages
53.40
High
73.00
About VSCO
Victoria's Secret & Co. is a specialty retailer of women's intimate and other apparel and beauty products marketed under the Victoria's Secret, PINK, and Adore Me brand names. The Company offers a range of products including bras, panties, lingerie, casual sleepwear, apparel, sport and swim, as well as prestige fragrances and body care. Victoria’s Secret brand offers bras, panties, lingerie, casual sleepwear, swim, lounge and sport, as well as fragrances and body care. PINK is a lifestyle brand for young women providing variety of collections and heritage pieces, including apparel, loungewear, activewear, bras, panties, accessories, beauty, and others. Adore Me is a direct-to-consumer lingerie and apparel brand that is focused on serving women of all sizes and budgets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Victoria's Secret Q1 2026 Earnings Call Scheduled
- Earnings Release Schedule: Victoria's Secret will hold its Q1 2026 earnings call on June 2, 2026, at 8:30 a.m. ET, with financial information expected to be released one hour prior, ensuring timely updates for investors on the company's performance.
- Participation Details: Investors can join the call via the company’s website, with a domestic dial-in number of 800.619.9066 and an international number of 212.519.0836, facilitating global participation from stakeholders.
- Performance Outlook: The earnings report will cover the latest performance metrics for Victoria's Secret and its subsidiary brand PINK, reflecting the company's standing in the global retail market and its potential for future growth amidst a rapidly changing consumer landscape.
- Company Overview: Victoria's Secret is a leading fashion retailer with over 30,000 associates and 1,420 stores, committed to enhancing consumer confidence through innovative products and brand image, showcasing its competitiveness in the global market.
See More
BBRC Urges Shareholders to Vote Against James' Reelection
- Call for Governance Reform: BBRC, a long-term shareholder owning approximately 13% of Victoria's Secret, criticizes the board under Donna James for misallocating $625 million in stock buybacks and failing a $591 million acquisition, urging shareholders to vote against her reelection at the 2026 annual meeting to drive governance reforms.
- Audit Committee Failures: During James' tenure as chair of the Audit Committee at L Brands, significant oversight failures regarding the relationship with convicted sex offender Jeffrey Epstein led to her being named a defendant in a $90 million lawsuit, highlighting major shortcomings in risk management that have impacted the company's reputation and shareholder trust.
- Shareholder Value Destruction: Under James' leadership, Victoria's Secret experienced a stock decline of over 70%, with BBRC pointing out the board's inability to justify continued support for her reelection despite her prolonged underperformance and three consecutive years of declining shareholder support.
- Management Turnover: The board's announcement that Mariam Naficy will not seek reelection is seen as a step towards change; however, BBRC argues that this does not adequately address concerns over weak management oversight, emphasizing the need for a new independent chair to ensure the company's sustainable future.
See More
David Einhorn Bullish on Overlooked Companies
- Acadia Healthcare: Einhorn highlighted that Acadia's newer facilities are underutilized, needing occupancy rates raised to 70-80% and improved reimbursement negotiations, with a potential share price of $56, doubling the current value.
- Centene's AI Potential: He argued that Centene could significantly benefit from AI in automating claims processing, with a projected stock value between $85 and $102, indicating substantial upside from the current $56 if margins normalize.
- Fluor's Capital Spending Opportunities: Einhorn noted that Fluor is well-positioned to capitalize on a U.S. capital spending boom across various sectors, suggesting shares could reach $115 in a few years, as the market underestimates its exposure to potential super cycles.
- Versant Media's Cash Flow Advantage: He mentioned that Versant Media remains insulated from streaming competition due to its focus on news and live sports, estimating it could generate free cash flow exceeding 60% of its market cap over the next four years for share buybacks or acquisitions.
See More
Victoria's Secret Blocks Billionaire Blundy from Board Position
- Board Member Changes: Victoria's Secret announced that board member Mariam Naficy will not seek re-election due to pressure from Brett Blundy, indicating external challenges to corporate governance that may affect investor confidence.
- Reasons for Board Rejection: After evaluating Blundy's request to join the board, the company concluded that the potential reputational and legal risks, along with conflict of interest and competition concerns, justified its decision not to invite him, reflecting a commitment to governance integrity.
- Shareholder Rights Plan Expiration: The anti-takeover defense measure implemented after Blundy increased his stake is set to expire later this month, potentially exposing the company to greater shareholder pressure and impacting future strategic decisions.
- Competition and Privacy Issues: Blundy's controlled company has been accused of improperly obtaining confidential sales information from Victoria's Secret, raising concerns about the company's privacy protections and potentially harming brand image and market competitiveness.
See More
Victoria's Secret Board Faces Shareholder Challenge
- Shareholder Voting Threat: BBRC International and its Chairman Brett Blundy's campaign to withhold votes against board members Donna James and Mariam Naficy indicates strong dissatisfaction with corporate governance, potentially destabilizing future decision-making at Victoria's Secret.
- Board's Opposition: Victoria's Secret's board expressed disappointment over Blundy's nomination, citing serious reputational and legal risks that could threaten the progress made, highlighting the board's commitment to governance integrity.
- Changing Shareholder Dynamics: With BBRC holding a 13% stake, becoming the second-largest shareholder, its increasing influence may lead to significant shifts in corporate governance and strategy at Victoria's Secret.
- Poison Pill Expiration: The company's decision not to extend the poison pill set to expire on May 18 suggests that its defensive measures against potential hostile takeovers may be insufficient in the face of shareholder pressure.
See More
Victoria's Secret Achieves 164% Total Shareholder Return Since CEO Appointment
- Significant Shareholder Returns: Since CEO Hillary Super's appointment in 2024, the company has delivered a total shareholder return of 164%, outperforming the S&P 500 Consumer Discretionary Distribution Index by 124% and peers by 172%, demonstrating the effectiveness of its strategic initiatives and market competitiveness.
- Transparent Board Decisions: The Board conducted a comprehensive review of Brett Blundy's candidacy, identifying significant reputational, legal, and conflict of interest risks, thereby ensuring robust governance and protecting shareholder interests.
- Ongoing Strategic Execution: The company is actively implementing its Path to Potential strategy, with the Board meeting 35 times over the past three years to navigate retail challenges and ensure growth amid geopolitical and supply chain disruptions.
- Enhanced Shareholder Communication: The Board values engagement with shareholders and is committed to incorporating their feedback into decision-making, ensuring continued value creation for all shareholders in future strategic executions.
See More
Victoria's Secret Q1 2026 Earnings Call Scheduled
- Earnings Release Schedule: Victoria's Secret will hold its Q1 2026 earnings call on June 2, 2026, at 8:30 a.m. ET, with financial information expected to be released one hour prior, ensuring timely updates for investors on the company's performance.
- Participation Details: Investors can join the call via the company’s website, with a domestic dial-in number of 800.619.9066 and an international number of 212.519.0836, facilitating global participation from stakeholders.
- Performance Outlook: The earnings report will cover the latest performance metrics for Victoria's Secret and its subsidiary brand PINK, reflecting the company's standing in the global retail market and its potential for future growth amidst a rapidly changing consumer landscape.
- Company Overview: Victoria's Secret is a leading fashion retailer with over 30,000 associates and 1,420 stores, committed to enhancing consumer confidence through innovative products and brand image, showcasing its competitiveness in the global market.
See More
BBRC Urges Shareholders to Vote Against James' Reelection
- Call for Governance Reform: BBRC, a long-term shareholder owning approximately 13% of Victoria's Secret, criticizes the board under Donna James for misallocating $625 million in stock buybacks and failing a $591 million acquisition, urging shareholders to vote against her reelection at the 2026 annual meeting to drive governance reforms.
- Audit Committee Failures: During James' tenure as chair of the Audit Committee at L Brands, significant oversight failures regarding the relationship with convicted sex offender Jeffrey Epstein led to her being named a defendant in a $90 million lawsuit, highlighting major shortcomings in risk management that have impacted the company's reputation and shareholder trust.
- Shareholder Value Destruction: Under James' leadership, Victoria's Secret experienced a stock decline of over 70%, with BBRC pointing out the board's inability to justify continued support for her reelection despite her prolonged underperformance and three consecutive years of declining shareholder support.
- Management Turnover: The board's announcement that Mariam Naficy will not seek reelection is seen as a step towards change; however, BBRC argues that this does not adequately address concerns over weak management oversight, emphasizing the need for a new independent chair to ensure the company's sustainable future.
See More
David Einhorn Bullish on Overlooked Companies
- Acadia Healthcare: Einhorn highlighted that Acadia's newer facilities are underutilized, needing occupancy rates raised to 70-80% and improved reimbursement negotiations, with a potential share price of $56, doubling the current value.
- Centene's AI Potential: He argued that Centene could significantly benefit from AI in automating claims processing, with a projected stock value between $85 and $102, indicating substantial upside from the current $56 if margins normalize.
- Fluor's Capital Spending Opportunities: Einhorn noted that Fluor is well-positioned to capitalize on a U.S. capital spending boom across various sectors, suggesting shares could reach $115 in a few years, as the market underestimates its exposure to potential super cycles.
- Versant Media's Cash Flow Advantage: He mentioned that Versant Media remains insulated from streaming competition due to its focus on news and live sports, estimating it could generate free cash flow exceeding 60% of its market cap over the next four years for share buybacks or acquisitions.
See More
Victoria's Secret Blocks Billionaire Blundy from Board Position
- Board Member Changes: Victoria's Secret announced that board member Mariam Naficy will not seek re-election due to pressure from Brett Blundy, indicating external challenges to corporate governance that may affect investor confidence.
- Reasons for Board Rejection: After evaluating Blundy's request to join the board, the company concluded that the potential reputational and legal risks, along with conflict of interest and competition concerns, justified its decision not to invite him, reflecting a commitment to governance integrity.
- Shareholder Rights Plan Expiration: The anti-takeover defense measure implemented after Blundy increased his stake is set to expire later this month, potentially exposing the company to greater shareholder pressure and impacting future strategic decisions.
- Competition and Privacy Issues: Blundy's controlled company has been accused of improperly obtaining confidential sales information from Victoria's Secret, raising concerns about the company's privacy protections and potentially harming brand image and market competitiveness.
See More
Victoria's Secret Board Faces Shareholder Challenge
- Shareholder Voting Threat: BBRC International and its Chairman Brett Blundy's campaign to withhold votes against board members Donna James and Mariam Naficy indicates strong dissatisfaction with corporate governance, potentially destabilizing future decision-making at Victoria's Secret.
- Board's Opposition: Victoria's Secret's board expressed disappointment over Blundy's nomination, citing serious reputational and legal risks that could threaten the progress made, highlighting the board's commitment to governance integrity.
- Changing Shareholder Dynamics: With BBRC holding a 13% stake, becoming the second-largest shareholder, its increasing influence may lead to significant shifts in corporate governance and strategy at Victoria's Secret.
- Poison Pill Expiration: The company's decision not to extend the poison pill set to expire on May 18 suggests that its defensive measures against potential hostile takeovers may be insufficient in the face of shareholder pressure.
See More
Victoria's Secret Achieves 164% Total Shareholder Return Since CEO Appointment
- Significant Shareholder Returns: Since CEO Hillary Super's appointment in 2024, the company has delivered a total shareholder return of 164%, outperforming the S&P 500 Consumer Discretionary Distribution Index by 124% and peers by 172%, demonstrating the effectiveness of its strategic initiatives and market competitiveness.
- Transparent Board Decisions: The Board conducted a comprehensive review of Brett Blundy's candidacy, identifying significant reputational, legal, and conflict of interest risks, thereby ensuring robust governance and protecting shareholder interests.
- Ongoing Strategic Execution: The company is actively implementing its Path to Potential strategy, with the Board meeting 35 times over the past three years to navigate retail challenges and ensure growth amid geopolitical and supply chain disruptions.
- Enhanced Shareholder Communication: The Board values engagement with shareholders and is committed to incorporating their feedback into decision-making, ensuring continued value creation for all shareholders in future strategic executions.
See More
