Speaker · Updated
Dana Telsey: latest market views
Telsey Advisory Group
Summary
Dana Telsey is the founder, chair and CEO of Telsey Advisory Group, a research firm, and a longtime Wall Street retail and restaurant analyst.
Chorus has 12 views from Dana Telsey across 2 episodes on Bloomberg Talks and Bloomberg Surveillance since October 15, 2026. Their latest calls: bullish on Tiffany & Co., Chanel and Target; bearish on LVMH Moët Hennessy Louis Vuitton and Nike.
Where they stand
Their latest bullish or bearish call on each company.
- Tiffany & Co.Bullish ·
- ChanelBullish ·
- LVMH Moët Hennessy Louis VuittonBearish ·
- NikeBearish ·
- TargetBullish ·
What they talk about most
- GLP-1s & obesity drugs · 3
- Consumer & retail · 2
- US consumer · 2
- Tiffany & Co. · 1
- Chanel · 1
- LVMH Moët Hennessy Louis Vuitton · 1
- Nike · 1
- Target · 1
The latest views
Newest first. Every quote is checked against the episode's transcript.
Telsey forecasts US holiday sales growth of 5% to 5.5%, a solid rise on last year.
Her firm's holiday sales forecast calls for 5% to 5.5% growth, a good number versus last year. Promotions are normalizing and inflation is present, which are headwinds, but GLP-1-driven gift buying and spending on new clothing, beauty and dining out is a tailwind she expects to lift the season.
“we came out with our holiday sales forecast of five to five and a half percent, which is a good forecast”at 1:29
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
GLP-1 users are driving spending across food, apparel, beauty and fitness, making GLP-1s a consumer accelerant.
About 11% of US adults now use GLP-1s, more women than men, and use is still rising given the health benefits shown. Users are changing spending across the lifestyle spectrum: protein and food, new clothing and size changes, skin care and moisturizers, gym workouts, dinners out and beauty treatments. Shoppers also buy gifts for people on the drugs, so GLP-1s are, in her view, a consumer accelerant for spending.
“GLP ones are definitely a consumer accelerant in terms of spending.”at 2:08
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
Oral GLP-1 dosing and falling prices should widen the user base beyond people who would inject.
The shift from injections to oral dosage should open the market to many people who did not want to inject. Costs are also falling while health benefits increase, which she sees as a further reason adoption will keep growing.
“I would think that would open up the market to a whole ton of people that maybe did not wanna inject. ... It's getting cheaper. The cost of GLP ones is coming down.”at 2:23
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
Tiffany & Co.Bullish
Tiffany is growing faster post-merger than as a public company, with remodels lifting sales.
Tiffany's growth rates have been higher since the merger than when it was a public company. Its icon collections are being accepted by younger generations. At least 40% of stores have been remodeled and are getting a sales lift, and the Blue Box Cafe is hard to book after the South Coast Plaza remodel. Watches and jewelry are gaining share, with bridal improving as couples who did not date during COVID get engaged.
“I think it's going well so far. You think about the growth rates that it's had. It's growing faster than it did when it was its own public company.”at 3:29
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
Lab-grown diamonds are far cheaper, but natural stones keep demand for authenticity.
The cost gap between lab-grown and natural diamonds is very large, and lab-grown stones come in bigger sizes. Even so, buyers still want authenticity and natural stones. She points to bridal demand picking up as evidence of a return to natural, and to Japanese buyers favoring smaller, higher-quality pieces.
“The cost differential is definitely vast with lab grown, and you can get larger stone sizes for lab grown. However, there's still a demand for authenticity and natural stones.”at 5:09
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
Activewear is slowing while fashion and occasion wear grows as people dress up again.
The COVID-era athleisure trend, when people worked on Zoom, has faded. Activewear has slowed while fashion and occasion wear has grown. She cites people dressing up for events, suits returning without ties, dresses, skirts and brown suede boots as examples of the shift.
“activewear has slowed, fashion and occasion wear has grown. People are dressing up.”at 6:32
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
ChanelBullish
Chanel's recovery under its new creative lead has been remarkable, with products selling out.
Telsey says Chanel is back in vogue after a recovery she calls remarkable. The new designer's impact on clothing has spread to the whole company, including makeup, where lipsticks are selling out everywhere.
“Have you ever seen a recovery of a house like Chanel in the last year? It's been amazing, and thank you for having me here, Tom.”at 13:32
Bloomberg Surveillance: Inflation and Bonds Amid AI Concerns ·
GLP-1 drug use is driving new apparel wardrobe purchases and changing consumer buying patterns.
Telsey says GLP-1 drugs are causing wardrobe changes and new apparel purchases among users. The effect is not finished because the drugs' impact keeps extending, so it is an additional reason for consumption shifts.
“GLP ones are causing new apparel wardrobe changes, new apparel wardrobe purchases, and they are not done because the impact that it has basically extends.”at 15:53
Bloomberg Surveillance: Inflation and Bonds Amid AI Concerns ·
TargetBullish
Target is up over 50% this year on newness, collaborations and a search for value.
Telsey cites Target shares up more than 50% this year. She credits new assortment and collaborations such as Hollister and Home and Warby Parker shop-in-shops, which draw value-seeking shoppers.
“Look at Target this year. Target's up over 50%. The newness in the assortment, the new collaborations.”at 16:35
Bloomberg Surveillance: Inflation and Bonds Amid AI Concerns ·
NikeBearish
Athletic footwear is promotional and weak; Nike needs fresh product to revive the category.
Telsey says the athletic footwear category has been very tough and promotional. She argues the category needs newness from Nike to recover, and says the industry has moved on from Nike as people dress up more for events.
“Look at active footwear, the athletic footwear. That category has been very tough. It's been promotional, and you need the newness from Nike to resuscitate the category.”at 17:55
Bloomberg Surveillance: Inflation and Bonds Amid AI Concerns ·
Expects a decent holiday season, helped by early promotions around Amazon Prime Day.
Telsey expects a decent holiday season. Advertising and activation are pulling spending forward, and Amazon Prime Day kicked off the season, with Target and others running events around it. She says her full holiday forecast comes next week.
“I think the holiday season's gonna be okay. ... I think it'll be a decent holiday season.”at 19:01
Bloomberg Surveillance: Inflation and Bonds Amid AI Concerns ·
LVMH Moët Hennessy Louis VuittonBearish
LVMH's fashion and leather goods missed on weak Chinese demand, down mid-teens, a key headwind.
Fashion and leather goods, about 45% of the business, came in weaker than expected. Telsey attributes this to Chinese consumer demand, which fell in the mid-teens. Other segments such as Sephora and jewelry were doing well.
“fashion and leather goods, which is 45% of the business, was weaker than expected. Why? China. Chinese consumer demand was weaker. It was down mid teens.”at 20:05
Bloomberg Surveillance: Inflation and Bonds Amid AI Concerns ·
Shows
- Bloomberg Talks · 1 episode
- Bloomberg Surveillance · 1 episode
Ask your AI what Dana Telsey thinks
Chorus gives Claude, ChatGPT and other assistants every view Dana Telsey has shared on the shows it covers, next to everyone else's. Ask where they stand, what changed, and who disagrees.
Chorus reports what speakers said. It isn't investment advice.