Earnings

Bath & Body Works shares tumble as retailer cuts profit outlook due

0


Sale signs inside the Bath and Body Works store in Edmonton. On Thursday, January 6, 2022, in Edmonton, Alberta, Canada.

Artur Widak | Nurphoto | Getty Images

Bath & Body Works shares fell in after-hours trading Wednesday after the retailer cut its profit outlook for the year, in part due to expected increases in inflationary pressures.

The stock fell more than 5% after hours, following an 8.6% decline during the trading day, amid a broader market selloff.

The company said in prepared remarks that it has been facing higher costs of raw materials, transportation and wages — like many retailers. Bath & Body Works now expects to take a hit of between $225 million and $250 million from…



Source cnbc.com

0 0 votes
Article Rating

Strategist discusses getting a mortgage when rates are rising

Previous article

How Big Oil sells off polluting assets in a bid to look green

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Earnings