Bath & Body Works shares are trading lower after the company reported Q4 earnings and issued worse-than-expected Q1 and FY24 outlook. It also authorized $500 million stock buyback.
Portfolio Pulse from Benzinga Newsdesk
Bath & Body Works shares are trading lower following the company's Q4 earnings report, which included a worse-than-expected outlook for Q1 and FY24. Additionally, the company has authorized a $500 million stock buyback.
February 29, 2024 | 12:14 pm
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Bath & Body Works reported lower-than-expected Q4 earnings and provided a disappointing outlook for Q1 and FY24, but announced a $500 million stock buyback.
The negative short-term impact on BBWI's stock price is likely due to the disappointing earnings report and future outlook, which can dampen investor sentiment. However, the stock buyback program may provide some support to the stock price by signaling the company's confidence in its future, potentially mitigating the extent of the negative impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100