Shares of fragrance retailer Bath & Body Works Inc BBWI are trading lower in after-hours Wednesday after the company reported financial results and issued third-quarter earnings guidance below average analyst estimates.
Bath & Body Works said second-quarter revenue decreased 5% year-over-year to $1.618 billion, which beat average analyst estimates of $1.58 billion, according to Benzinga Pro. The retailer reported quarterly earnings of 52 cents per share, which beat average analyst estimates of 45 cents per share.
"The business continues to perform at levels significantly above pre-pandemic and our team is effectively navigating the challenging environment and inflationary pressure affecting our customers and our business," said Sarah Nash, executive chair and interim CEO of Bath & Body Works.
Bath & Body Works expects third-quarter earnings to be between 10 cents and 20 cents per share versus the estimate of 35 cents per share. The company expects full-year earnings to be between $2.70 and $3 per share versus the estimate of $2.98 per share.
See Also: Wolfspeed Shares Rise High After Q4 Results Top Street Expectations, Upbeat Q1 Outlook
BBWI Price Action: Bath & Body Works has a 52-week high of $71.51 and a 52-week low of $25.75.
The stock was down 3.37% in after-hours at $39.05 at press time.
Photo: Mike Mozart from Flickr.
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