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Bath & Body Works lowers Q2 sales and earnings outlook

By Prachi Singh

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Business

Image: Bath & Body Works media gallery

Updating its outlook for the second quarter and full year, Bath & Body Works, Inc. said, second quarter sales are expected to be down six to seven percent compared to its previous guidance for a low single digit percent increase compared to 2021.

The company currently expects earnings per diluted share for the quarter to be 40 cents to 42 cents versus its previous guidance of 60 cents to 65 cents.

Commenting on the trading update, Sarah Nash, the company’s executive chair and interim chief executive officer, said: “Our business continues to perform at levels significantly above pre-pandemic, although we are navigating a challenging operating and macroeconomic environment with inflationary pressure affecting our customers and our business.”

The company currently expects full year sales to be down mid to high single digits compared to last year versus its previous guidance of a low single digit percent increase compared to 2021.

Full year operating income rate as a percentage of sales is expected to be in the mid-teens.

The company will report second quarter earnings on August 17, 2022.

Bath & Body Works