Victoria's Secret Seen with Momentum Heading into Fashion Show
Dow Jones10-19
1128 ET - Victoria's Secret looks like it's gaining steam, particularly with younger consumers, ahead of its fashion show tonight, Morgan Stanley analysts say in a note. The bra retailer's growth accelerated across web traffic, total spend and new customer spend in September, likely helped by earlier marketing, the analysts say. That sets up for stronger momentum entering the event than in prior years, they say. "We think this positions the Show to amplify existing demand rather than having to create it, which has been the case in prior years," they say. The analysts point to particular strength with Gen Z, a group they say has been pivotal in successful turnarounds at other brands like Coach, Abercrombie and Gap.
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