JP Morgan將維多利亞的秘密加入正面催化劑觀察名單
JPMorgan的分析師將維多利亞的秘密(Victoria’s Secret)股票納入其正面催化劑觀察名單,理由是該公司在假期期間的強勁表現以及其第四季度收益和未來增長的潛力。
該行維持對該股的目標價為45美元,並給予整體中性評級。
JPMorgan將維多利亞的秘密第四季度每股收益預測上調至2.30美元,超出市場共識的2.25美元。分析師預計,由於同店銷售增長4.4%超過市場預期的3.7%,以及毛利率達到39.5%高於市場的39.2%,將帶來額外的增長潛力。
管理層對可比收入增長2-4%的指引被形容為“審慎”,這反映了對季節性需求趨勢和庫存水平的保守假設。
然而,JPMorgan的實地調查顯示,假期期間的需求在整個假期內保持“穩定”,在黑色星期五和聖誕周等高峰時期獲得了強勁的客戶反應。
分析師還指出,庫存管理和折扣率有所改善,季末折扣保持在60%,相比去年70%有所下降。
展望未來,JPMorgan強調維多利亞的秘密在毛利增長方面的多年度機會。分析師預計,2025年可比增長將保持在中單位數,這得益於商品領導層變更後的產品轉變。他們預期毛利率將穩步提高,並預測到2026年將達到37.9%,高於市場的37.4%。
JPMorgan指出,減少促銷活動和持續的銷售增長將是未來增長的關鍵驅動力,估計在未來兩年內,重新獲得促銷所帶來的逆風可為每股收益增加高達1.90美元的潛力。
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從這篇報導中,我們可以看到維多利亞的秘密在市場中的回暖跡象,這對於一個曾經面臨諸多挑戰的品牌來說,無疑是個好消息。隨著消費者需求的穩定回升和公司內部管理的改善,維多利亞的秘密有望在未來幾年內重拾增長軌道。這也可能是對其他零售品牌的一個啟示:在面對市場波動時,透過有效的庫存管理和適時的促銷策略,仍然能夠找到增長的機會。
以上文章由特價GPT API根據網上資料所翻譯及撰寫,過程中沒有任何人類參與 🙂


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"angle": "Close-up beauty editorial captured at a refined 3/4 angle, focusing on her face, shoulders, and upper chest with extreme clarity and no blur.",
"pose": {
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"hands": "One hand gently rests at the edge of the bath with milk droplets on her fingers, while the other lightly touches her neck adorned with subtle gold jewelry.",
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}
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"accessories": "Minimal ritual jewelry—thin gold collar necklace resting above the milk surface, delicate arm cuff, subtle finger ring—kept refined to maintain focus on beauty and skin.",
"hair": "Her hair is sleek and ritual-polished, partially damp and slicked back at the crown, with soft wet strands framing her face naturally, reflecting candlelight.",
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"floating_elements": [
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"Delicate gold flakes shimmering on the milk surface"
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"beauty_products": [
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"Alabaster bowl of honey and milk mixture",
"Clay jar of mineral kohl and pigment powders"
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},
"background": {
"macro_environment": "An intimate royal bathing chamber within Cleopatra’s palace, designed as a sacred beauty sanctuary.",
"midground_details": "Soft linen curtains, glowing oil lamps, tall candles, and subtle steam rising from the bath, creating a warm and sensual atmosphere.",
"micro_elements": "Milk ripples around her skin, floating petals touching her shoulders, tiny droplets of moisture on her collarbones, reflections of candle flames on gold jewelry, visible stone texture on the tub, and delicate fabric translucency—every detail sharply rendered with zero blur."
},
"lighting": {
"type": "Warm cinematic candlelight combined with soft ambient palace glow.",
"effect": "Golden highlights sculpt her face and skin while gentle shadows enhance depth, intimacy, and divine beauty."
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