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Why Victoria’s Secret stock is down today

Yahoo Finance's Brad Smith discusses Victoria's Secret sales and an analyst downgrade sending shares lower.

Video Transcript

[BLINK]

[MUSIC PLAYING]

BRAD SMITH: Victoria's Secret shares, they are trending this morning. They're moving lower by about 8% after the company reported an 8 and 1/2% decline in sales in the third quarter as it struggles to reach lower income brackets. The retail brand is also facing a downgrade from JP Morgan to neutral from overweight this morning, with the bank citing an increasingly cautious macroeconomic backdrop.