Barington Capital Group has built a stake in Victoria’s Secret (VSCO) and believes the company hasn’t lived up to its full potential, Lauren Thomas of Wall Street Journal reports, citing people familiar with the matter. Barington owns a stake of over 1% in Victoria’s Secret and intends to keep buying more shares, sources told the Journal. The activist plans to push Victoria’s Secret to refresh its board and refocus on its core bra business to turn around its share performance, the people added. Barington plans to ask Victoria’s to consider replacing a majority, if not all of, the board with new independent directors, the sources told the Journal.
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