Bath & Body Works Stock Jumps 17 Percent on Back of Raised Full-year Forecast

Bath & Body Works (BBW) Q3 2024 earnings are in: it raises full year forecast after better than expected third quarter earnings.

Bath & Body Works is forecasting a smaller decline in full-year sales and raising its profit estimate after better-than-expected third-quarter earnings. The news sent the retailer’s share price up 17 percent to $35.96. company, which was spun off from L Brands, reported net sales of $1.61 billion for the quarter ended Nov. 2, up 3 percent from a year earlier. Wall Street had forecast $1.58 billion.

For fiscal 2024, the company now expects net sales to range between a decline of 2.5 percent to a decline of 1.7 percent, versus a previous estimate of a 2 percent to 4 percent drop. “This quarter our innovation across all categories resonated with new and loyal customers and was a key driver of our strong performance,” Boswell added in a statement provided to WWD. “As we enter the critical fourth-quarter holiday period, we have an exciting set of products at a range of price points. I’m confident that our leadership in home fragrance, compelling assortment of gift options, and operational excellence will help us end the year strong.

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