Walmart Taps The "Hot" Lingerie Segment Ahead Of Holiday Sales - Walmart (NYSE:WMT)

Just Ahead of the big holiday season Walmart Inc WMT revamped a popular top intimates and sleepwear brand.
Walmart launched bras, underwear, socks, pajamas, and other items under the new brand, Joyspun, online and in stores.
Joyspun replaced Secret Treasures, Walmart’s billion-dollar sleepwear and intimates private brand, which won the most extensive customer base across the women’s intimates and sleepwear market in the U.S.
From today, customers will discover over 300 styles of sleepwear, bras, panties, socks, hosiery, and maternity, priced between $7.98 for a super soft sleep shirt and $34.98 for a plush, quilted robe.
Bras start at just $11.98.
“It’s a white-hot moment for the intimates category,” Walmart U.S. EVP Denise Incandela said. “We wanted to take our leading brand, which was Secret Treasures, and reimagine it to offer the quality and elevated prints and premium design details, as well as a new brand name and colors and packaging and modernize in a way that brings us into the future.”
Intimates dollar sales during the first nine months were 15% higher than in 2019, CNBC reports citing NPD. Sleepwear dollar sales are up 52% over that time frame.
Even as some inflation-conscious shoppers watch their spending, items like underwear and socks remain a staple that people must replace, an NPD analyst said. She said it is also a popular holiday gift and a part-time uniform for hybrid workers.
Price Action: WMT shares traded higher by 0.62% at $137.65 in the premarket on the last check Monday.

Market News and Data brought to you by Benzinga APIs