Historically the center of the ancient suburban area of Bordeaux (during Middle Ages), La Victoire is now considered as one of the two gravity centers of the town (with Gambetta). A lot of young people gather here at night to enjoy the numerous bars, and during the day a lot of people go through that place to reach the pedestrian district.
La Victoire is west of the railway station, and can be reached by bus (lines 7/8) or by foot (15 minutes walk).
Not much to do here during the day... Except going to the pedestrian area :).
A lot of places to eat, going from Mac Donald's, in front of the arch, to restaurants from several different countries in the surroundings (it's possible to eat Italian, Chinese, Indian, African...). If you're in a hurry and do not like "Mac Do" too much, check its various competitors : there are at least a dozen kebab restaurants in the immediate surroundings of the square.
If you want to cook your own food, there are several small shops, open 24h/24, which sell almost everything you want. East of La Victoire live a lot of foreigners, and you can buy a lot of products from Africa or Asia there.
Ah, drinks... La Victoire is the biggest drinking place in France, considering the huge number of bars it has in its surroundings. Bars usually open in the afternoon and close at around 2:00 or 3:00 AM, and you can get almost every kind of drink you want there, from beer to strong alcohols.
A few places to checkout :
There are several cybercafes in the surroundings - checkout the Cours Pasteur (north-west) and the street leading to the Lycee Montaigne (close to the Break).
Several shops sell phonecards and SIM cards for your cellphone, to the east of La Victoire.