Weight loss drugs likely to boost apparel stocks: Survey

 The market for GLP-1 weight loss drugs such as Wegovy and Ozempic have captured Wall Street's attention. A consumer survey carried out by Stifel Financial (SF) found 15% of respondents currently use a GLP-1 drug while an additional 21% said they would be interested if it were FDA approved with proven results.

Stifel Analyst Jim Duffy joins Yahoo Finance to discuss how the uptake of weight loss drugs could prompt a shift in spending trends and the greater impact of GLP-1's across industries.

"We do expect that there will be less calories consumed, by the projections of our food & beverage team, get to 4% less calories consumed with this adoption. We do think that there's going to be more apparel spend," Duffy says. "Consumers are losing significant amounts of weight on these drugs, some clinical trials, including one released recently from Mounjaro, speaks to greater than 40% of consumers losing more than 10% of their body weight."

Duffy names Lululemon (LULU), Dick's Sporting Goods (DKS) and Levi's (LEVI) as potential winners.

https://finance.yahoo.com/video/weight-loss-drugs-likely-boost-154833145.html