Bath & Body Works Increases Full-Year Expected Share Repurchases To $400M From $300M
Portfolio Pulse from Benzinga Newsdesk
Bath & Body Works has increased its full-year expected share repurchases from $300 million to $400 million, indicating confidence in its financial position and future prospects.
August 28, 2024 | 10:57 am
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Bath & Body Works has raised its full-year share repurchase target to $400 million from $300 million. This move suggests the company is confident in its financial health and future growth, which could positively impact its stock price.
Increasing the share repurchase plan indicates that Bath & Body Works has excess cash and believes its stock is undervalued. This action often leads to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100