Why Bath & Body Works Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Bath & Body Works, Inc. (NYSE:BBWI) shares fell after reporting Q4 earnings and a modest outlook for Q1 and FY24. Despite beating Q4 earnings and revenue estimates, the company's forecast for net sales and EPS for the full year and Q1 2024 is below consensus estimates. BBWI also announced a new $500 million share repurchase program.
February 29, 2024 | 2:27 pm
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Bath & Body Works shares declined due to modest FY24 and Q1 outlooks despite beating Q4 earnings and revenue estimates. The company also announced a $500 million share repurchase program.
BBWI's share price is likely to be negatively impacted in the short term due to its modest sales and earnings outlook for FY24 and Q1 2024, despite a strong Q4 performance. The announcement of a $500 million share repurchase program may provide some support to the stock price, but the cautious outlook appears to be the dominant factor influencing investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100