400 Billion Disappears in a Day… New York Lingerie Giant's Stock Plummets 6%

Victoria’s Secret & Co. (NYSE: VSXY), the parent company of the Victoria’s Secret lingerie brand, saw its shares drop 5.65% to close at $74.50 (approximately KRW 104,000) on June 4 in New York trading. Volume totaled 2,018,769 shares, and market capitalization declined by about $3.16 billion (roughly KRW 440 billion), bringing the company’s value down to around $5.9 billion (about KRW 8.3 trillion).

On June 2, the company reported fiscal 2026 first-quarter results that beat market expectations and raised its full-year sales outlook, driving the stock more than 40% higher to an all-time high before it surrendered some gains over the next two days (). On May 21, Victoria’s Secret & Co. changed its NYSE ticker from VSCO to VSXY, signaling a fresh start built around a “sexy” image. A day earlier, Barclays had sharply raised its price target from $67 to $108, further capturing investor interest. With all major proxy advisory firms backing management’s slate, the company also secured an advantage in its proxy contest with activist fund BBRC ().

Victoria’s Secret & Co. is a leading U.S. retailer of women’s lingerie, loungewear, and beauty products, encompassing brands such as Victoria’s Secret, PINK, and the digital lingerie brand Adore Me (). The company spun off from L Brands in 2021 via a tax-free distribution and has since pursued brand repositioning and restructuring to overcome past image controversies and underperforming sales. Under CEO Hilary Super, appointed in 2024, Victoria’s Secret & Co. is realigning its strategy to reemphasize its core “sexy” concept ().