I sounds fine. You could get away with just writing "women's weekly" by itself, on the other hand, with "weekly" functioning as a noun. This would depend on your audience: Do you have to ensure that you're using very clear standard English to ensure that they understand everything you write?
A bit of local knowledge
It would be best to avoid "women's weekly" in that order if you are writing for the UK or about UK women's magazines in general.
That is the title of one of the UK's weekly women's magazines.