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  4. Bath & Body Works Dips on Big EPS Forecast Cut, Analyst Sees Several Positive Catalysts
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Bath & Body Works Dips on Big EPS Forecast Cut, Analyst Sees Several Positive Catalysts

By Senad Karaahmetovic Shares of Bath & Body Works Inc. (NYSE:BBWI) are down about 1% after the company cut its annual profit forecast. BBWI topped its recent preannouncement...
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Bath & Body Works Dips on Big EPS Forecast Cut, Analyst Sees Several Positive Catalysts © Reuters. Bath & Body Works (BBWI) Dips on Big EPS Forecast Cut, Analyst Sees Several Positive Catalysts

By Senad Karaahmetovic

Shares of Bath & Body Works Inc. (NYSE:BBWI) are down about 1% after the company cut its annual profit forecast.

BBWI topped its recent preannouncement of $0.40-$0.42 by reporting EPS from continuing operations at 52c, also beating the 45c consensus. Revenue came in at $1.62 billion, slightly below the $1.64 billion consensus.

“Our results in the second quarter were better than our most recent expectations, reflecting improvement in sales toward the end of the quarter as customers responded to newness in our assortment as well as favorability in expenses,” Sarah Nash, Executive Chair and Interim Chief Executive Officer, commented.

For this quarter, BBWI sees EPS from continuing operations in the range of 10c to 20c with the consensus standing at 34c.

On a full-year basis, EPS is seen between $2.70 to $3.00, much lower than the prior guidance of $3.80 to $4.15, and below the consensus of $3.07.

A BofA analyst reiterated a Buy rating and hiked the price target to $48 from $40 as she sees a rich catalyst path for the second half of the year.

“We expect the company to announce a new CEO and think that as sales stabilize, investor focus will shift to the outsized operating margin expansion opportunity in 2023, leading to multiple expansion,” she explained.

A Raymond James analyst added:

“BBWI reported FQ3 results after the close and updated its FY outlook. FQ3 sales and EPS beat our estimates, which were reset last month, as slowing consumer demand, a lower than anticipated lift from the semi-annual sale and inventory culling was partly offset by improved traffic and spending in 2H July.”

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
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 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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