Starbucks & Victoria’s Secret 8-5-26 - Becker Private Equity & Business Podcast

Summary3 min read

Becker Private Equity & Business Podcast

Episode: Starbucks & Victoria’s Secret 8-5-26

Host: Scott Becker
Date: August 5, 2026

Episode Overview

In this concise episode, Scott Becker discusses the strong performances of Starbucks and Victoria’s Secret over the past year. He draws on classic investment wisdom and shares his personal perspectives on why both brands are outpacing expectations, referencing management changes and consumer experiences as key drivers of growth.

Key Discussion Points & Insights

Starbucks: A Brewing Turnaround

Year-to-date Surge: Starbucks is up 25% year to date, signaling a robust turnaround for the coffee giant.
[00:34]
Improved Customer Experience: Becker notes that the in-store and overall customer experience at Starbucks has improved, personally attesting to frequenting Starbucks for work and coffee.
Leadership Impact: The company’s positive momentum is attributed to strong leadership. Becker credits Brian Niccol, formerly of Chipotle, as the driving force behind Starbucks’ resurgence:
- “Brian Nicole, the new CEO, just doing a fantastic job... the guy who came from Chipotle, doing a great job.” [01:00]
Investment Wisdom: Becker references Peter Lynch’s classic investment strategy—invest in what you know and like, citing his own experiences as a template for individual investors:
- “If you look at the old line of investing... you look for things that you like the customer experience to think of as places to invest.” [00:44]

Victoria’s Secret: Stunning Returns

Massive Stock Rebound: Victoria’s Secret has surged more than 300% over the last 52 weeks.
[01:24]
Consumer Experience as an Investment Signal: While Becker jokes about not frequenting Victoria’s Secret, he emphasizes that — like Starbucks — positive consumer experience is often a clue to underlying financial strength:
- “...the other place that I don’t frequent but now I think I should, is Victoria’s Secret.” [01:14]
Humorous Commentary: In classic Scott Becker style, he adds levity while making a point about due diligence and understanding the companies you invest in:
- “I say jokingly, and I know this is probably inappropriate, that it might be time to go check out the consumer experience at Victoria’s Secret. That sounds a lot more exciting to me than does Starbucks.” [01:30]
Performance Recognition: Drives home that both brands are “looking up.”

Notable Quotes & Memorable Moments

On classic investing wisdom:
“If you look at the old line of investing, you invest in places... that you like the customer experience, to think of as places to invest.” — Scott Becker [00:44]
On Starbucks’ leadership:
“Brian Nicole, the new CEO, just doing a fantastic job... the guy who came from Chipotle, doing a great job.” — Scott Becker [01:00]
Humor about due diligence:
“I say jokingly... it might be time to go check out the consumer experience at Victoria’s Secret. That sounds a lot more exciting to me than does Starbucks.” — Scott Becker [01:30]

Timestamps for Key Segments

00:30 — Introduction; episode theme: Starbucks and Victoria’s Secret’s business turnarounds
00:34 — Starbucks’ performance and year-to-date growth
00:50 – 01:12 — Peter Lynch’s investment philosophy; Becker’s personal experience at Starbucks
01:00 — Leadership impact: Brian Niccol’s influence on Starbucks
01:14 — Transition to Victoria’s Secret; remarkable 300% stock resurgence
01:30 — Becker’s humorous approach to researching consumer businesses

Conclusion

Scott Becker’s candid, upbeat analysis centers on two standout retail performers, Starbucks and Victoria’s Secret, highlighting the value of direct, experiential research in investment decisions. His blend of solid business insight, references to legendary investors, and lighthearted moments provides valuable perspective on recognizing and riding the wave of brand turnarounds.

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Transcript3 lines

[00:01]
A
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[00:31]
B
This is Scott Becker with the Becker Business and the Becker Private Equity Podcast. Today's discussion is Starbucks and Victoria's Secret. So here's the deal with Starbucks and Victoria's Secret. Both of them are having really good years. Starbucks is back up 25% year to date. And if you look at the old line of investing, you invest in places. An old Peter lynch theory who had Magellan and Fidelity for a long time, that you look for things that you like the customer experience to think of as places to invest. So as I see myself, I'm back at Starbucks, drinking coffee and working all the time. It seems like they've improved the experience at Starbucks. With story written today, a turnaround is brewing at Starbucks. Here's where it'll end the year. But again, the point being Starbucks really moving in the right direction. Up 25% year to date. Brian Nicole, the new CEO, just doing a fantastic job. I always get his name, whether it's Brian Rich, but Nicole, the guy who came from Chipotle, doing a great job. So that's Starbucks. The other place that I don't frequent but now I think I should, is Victoria's Secret. Victoria's Secret, like and tell is up more than 300% over the last 52 weeks. You know, again, I say jokingly, and I know this is probably inappropriate, that it might be time to go check out the consumer experience at Victoria's Secret. That sounds a lot more exciting to me than does Starbucks. I hope I haven't offended anybody as usual. Thank you for listening to the Becker Business, the Becker Private Equity podcast. We hope you enjoy this again. Starbucks and Victoria's Secret looking up. Thank you for listening.
[02:07]
C
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