BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'Business Tech'. (Return)

MarketWatch MarketPulseMay 18, 2022
Bath & Body Works stock falls after retailer lowers 2022 guidance
Shares of Bath & Body Works Inc. fell more than 4% in the extended session Wednesday after the specialty retailer reported first-quarter earnings above Wall Street expectations, but lowered its guidance for the full year. The company said it earned $155 million, or 64 cents a share, in the quarter, compared with $277 million, or 97 cents a share, in the year-ago period. Sales fell 1% to $1.45 billion, the company said. FactSet consensus called for earnings of 53 cents a share on sales of $1.44 billion. "With our vertically integrated and approximately 85% domestic supply chain, we are taking advantage of the agility in our inventory decision-making to leverage early customer reads and chase our best performers in season," interim Chief Executive Sarah Nash said in a statement. Bath & Body Works will continue to "plan prudently" this year and accelerate investments in the business to drive long-term growth, Nash said. The company forecast second-quarter earnings from continuing operations to be between 60 cents a share and 65 cents a share, compared to earnings of 77 cents a share in the prior year. For fiscal 2022, Bath & Body Works projected earnings from continuing operations between $3.80 a share and $4.15 a share, compared with a previous guidance of between $4.30 a share and $4.70 a share. That reflects "the company's decision to accelerate investments in information technology and its customer loyalty program, as well as projected increases in inflationary pressures," the company said. Shares of Bath & Body Works, which became a standalone company in August, ended the regular trading day down nearly 9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


TRENDING TAGS
Stockmarket Target Buy Earnings Today
Stocksmarket Target Buy retail biggest
inflationFed Market high earnings UK
TargetStock Earnings stocks Miss Walmart
marketStock Stocks Dow Points Snapshot
Dowdown points Market Stock earnings
MuskElon Twitter Deal forward move
Chinalockdowns Steve Wynn Consumer Casino
TwitterMusk Elon Deal forward move
PointsDow Market earnings since Wall

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2022 CEOExpress Company LLC