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Investing.com -- Wells Fargo on Friday reshuffled its ratings across the U.S. apparel and retail sector, upgrading Victoria’s Secret and downgrading Nike and Deckers, arguing that the rapid adoption of GLP-1 weight-loss drugs is impacting consumer spending in ways that favor clothing over footwear and athletic wear.
MCD beats Q1 2026 estimates as global comps rise 3.8% and systemwide sales top $34B, with loyalty sales exceeding $9B across 70 markets.
Victoria’s Secret accused one of its largest shareholders of pursuing a proxy fight after being denied a board seat, calling the effort a distracting campaign.
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