Bath & Body Works Inc (BBWI)

Bath Body Works Inc Stock (BBWI) dropped by 7.38% from $32.50 to $30.10 in the trading on Thursday November 16, 2023. The reasons why BBWI stock down today include:

• Resilient Q3 performance: The specialty retailer announced its results for the third quarter, with revenue declining by 2.6% year-over-year to $1.56 billion, marginally beating the analyst consensus estimate of $1.560 billion. EPS of $0.48 outpaced expectations by $0.13.
• Decline in segment revenue: Revenue from the U.S. and Canada stores decreased 1% Y/Y to $1.17 billion, International stores fell 5% to $77 million, while Direct sales (U.S. and Canada) declined 8% to $317 million.
• Outlook: Bath & Body Works sees Q4 FY23 EPS of $1.70-$1.90 versus the consensus of $1.98. It expects Q4 sales to decline 1% - 5%. It sees FY23 sales to decline 2.5% - 4% (prior 1.5% - 3.5% decline). It revised FY23 adjusted EPS guidance from $2.80 - $3.10 to $2.90 - $3.10, versus the consensus of $3.07.