Bath & Body Works Stock (NYSE:BBWI), Trade Ideas

Bath & Body Works

Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 5% of sales from international markets in fiscal 2023. For fiscal 2023, 74% of sales stemmed from the brick-and-mortar network (which was composed of more than 1,800 retail stores), similar to 2022 levels, as consumer shopping patterns remained to normal. Future growth is expected from store reformatting, digital and international channels, as well as adjacent category expansion.

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

Dell To Rally Around 27%? Here Are 10 Top Analyst Forecasts For Friday

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Bath &amp; Body Works, Inc.  (NYSE: BBWI) reported upbeat fourth-quarter earnings, but issued worse-than-expected FY24 outlook on Thursday.

These Analysts Boost Their Forecasts On Bath &amp; Body Works Following Q4 Results

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Shares of  Butterfly Network, Inc.  (NASDAQ: BFLY) fell sharply during Thursday’s session after the company reported mixed fourth-quarter financial results.

Why Butterfly Network Shares Are Trading Lower By 22%? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

Bath & Body Works Inc

If you're the parent of a child under 12 and have streaming platform Disney+, there's a good chance you've watched Australian <a href="https://www.benzinga.com/general/entertainment/23/12/36400565/is-disneys-percy-jackson-reboot-a-streaming-sensation-the-impact-of-new-shows-and-blueys-tr">animated hit &#8220;Bluey.</a>&#8220;
The show is turning in big numbers for Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), but the company also hinted at the show ending or having less content going forward.
What Happened: Streaming platform Disney+, part of the Walt Disney Company, has one of the<a href="https://www.benzinga.com/general/entertainment/24/04/38024244/appletv-a-streaming-winner-new-survey-shows-platform-has-smallest-library-highest-rated-con"> largest content libraries</a> of family-based content, which is a draw to getting adults with children to subscribe to the platform.
Among the hit shows on Disney+ is the Australian show "Bluey," with Disney having the rights in the U.S. The show has drawn praise from kids and from parents, thanks to its relatable storylines.
On April 14, Disney+ aired the episode "The Sign" from the third season of the show. At 28 minutes, the episode was around three times longer than most episodes.
The episode had 10.4 million views globally in its first week on Disney+, <a href="https://www.hollywoodreporter.com/tv/tv-news/bluey-the-sign-ratings-disney-plus-1235879242/">according </a>to The Hollywood Reporter. This ranked as the most-watched episode in the show's history and had the biggest viewership for a Disney Junior show on Disney+.
This episode and its predecessor "Ghostbasket" left fans asking questions about the future as the Heeler family featured on "Bluey" dealt with a potential sale of their home and a move to another city.
Fans were treated to a surprise with the season 3 finale episode appropriately titled, "Surprise."
The episode included a flash forward to main character Bluey as an adult and with a child —&nbsp;leaving more questions about if the show is ending, as many voiced on social media that it felt more like a series finale than a season finale.
Related Link:<a href="https://www.benzinga.com/news/earnings/24/02/36993564/disney-invests-1-5b-in-fortnite-owner-epic-games-in-biggest-ever-gaming-entry-posts-q1-earnings-bea"> Disney Invests $1.5B In Fortnite Owner Epic Games In &#8216;Biggest Ever&#8217; Gaming Entry, Posts Q1 Earnings Beat, Revenue Miss</a>
What's Next: Show creator Joe Brumm told The Hollywood Reporter in 2023 that the BBC, which originally commissioned the show alongside Australia's ABC, to not talk about the kids' voices or the future of the show.&nbsp;
Brumm has also said he's taking a break after the third season, which added to the speculation about the show's future.&nbsp;
A producer of "Bluey" recently confirmed to <a href="https://www.bbc.com/news/entertainment-arts-68795941">BBC </a>that the show will return in the future. Another producer also said it would be a "dream" to make a movie based on Bluey and her family in the future.
"Bluey" debuted on the streaming platform in 2020, becoming one of the most-watched shows in the U.S. on streaming platforms. Data from Nielsen showed the series had an average of 1.19 billion minutes viewed per week across a three-season library of 150 episodes.
The children's show is the most streamed show in the U.S. in 2024 based on viewing time tracked by Nielsen. The show ranked second in 2023 and sixth in 2022.
The show has been a huge hit for Disney and a gap between seasons or an end to the show could eliminate one of the key pieces of content.&nbsp;
In a highly competitive streaming market, platforms need shows like "Bluey" that aren't available other places and are must-watch content for at least one age demographic.
With its appeal to kids and parents alike, "Bluey" hits multiple demographics.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/03/37701205/taylor-swift-concert-film-hits-streaming-heres-how-to-watch-the-eras-tour-taylors-version">Taylor Swift Concert Film Hits Streaming: Here&#8217;s How To Watch &#8216;The Eras Tour (Taylor&#8217;s Version)&#8217;</a>
Photo: Courtesy Disney+ UK

Entertainment

Media

Bluey Dominates Ratings For Disney+: Kids, Parents Hoping Hit Show Not Over

<h1 class="wp-block-heading">Top Stories for April 24, 2024:</h1>
<ol>
<li>American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) updated <a href="https://www.benzinga.com/news/24/04/38404516/american-battery-technology-company-publishes-updated-initial-assessment-and-economic-analysis-for-t">its initial assessment</a> for the Tonopah Flats Lithium Project (TFLP).</li>
</ol>
It refined the project&#8217;s scope to use only measured and indicated mineral resources, excluding the more speculative inferred resources.&nbsp;
This strategy improves the project's economics by enhancing access to higher-quality resources and optimizing processing at its newly built demonstration facility. 
Key updates include a 7% reduction in total processed claystone, an 8% increase in lithium grade, a 7% decrease in production costs and a 6% rise in the project&#8217;s net present value to $4.67 billion.
<ol start="2">
<li>Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) reported first-quarter results, with net sales of $4.7 billion and net income of $584 million. </li>
</ol>
Highlights include 3.3 million tons of steel shipments, operating income of $751 million and adjusted EBITDA of $879 million.&nbsp;
The company&#8217;s financial health was further supported by liquidity of $3.1 billion and shareholder returns through $298 million in stock repurchases and an 8% dividend increase.&nbsp;
Demand was solid across sectors, particularly automotive and construction, driving sequential improvements in earnings and operational performance.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
<ol start="3">
<li>Gold Royalty Corp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GROY#AMEX">GROY</a>) entered into a three-year mutual cooperation agreement with Taurus Mining Royalty Fund that allows both parties to co-invest in precious metals royalties and streams. </li>
</ol>
The agreement focuses on assets valued at $30 million or more and provides a framework for identifying and evaluating co-investment opportunities, with the option for each party to invest 25% to 50% in selected transactions.&nbsp;
Additionally, any future sales of interests acquired through this partnership will offer first rights to the other partner.
<ol start="4">
<li>Coeur Mining Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) released its 2023 ESG Report, emphasizing its progress in environmental, social and governance efforts aligned with shareholder value. </li>
</ol>
The report highlights Coeur&#8217;s achievement of the lowest injury rate among peers at 0.46 and its adoption of the Global Industry Standard on Tailings Management (placing it among the top 17% of non-International Council on Mining and Metals companies).
The company also shared its commitment to biodiversity through the Biodiversity Management Standard and advancements in climate resilience, aiming for a 35% reduction in GHG emissions by the end of 2024.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38405991/equinox-gold-snaps-up-greenstone-gold-mines-for-995m-in-incredibly-rare-deal">Equinox Gold Snaps Up Greenstone Gold Mines For $995 Million In &#8216;Incredibly Rare&#8217; Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Jose Luis Stephens via Shutterstock.

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American Battery Optimizes Lithium Project; Steel Dynamics Reports Q1 Results; Gold Royalty Teams Up With Taurus Mining And More: Wednesday's Top Mining Stories

Helix Energy Solns Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLX#NYSE">HLX</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $0.02 by 250 percent. The company reported quarterly sales of $296.211 million which missed the analyst consensus estimate of $296.725 million by 0.17 percent. This is a 18.44 percent increase over sales of $250.084 million the same period last year.

Earnings Misses

Helix Energy Solns Gr Q1 2024 Adj EPS $(0.03) Misses $0.02 Estimate, Sales $296.211M Miss $296.725M Estimate

National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.76 by 7.89 percent. This is a 22.64 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $101.724 million which missed the analyst consensus estimate of $103.683 million by 1.89 percent. This is a 7.15 percent decrease over sales of $109.554 million the same period last year.

Earnings Beats

NBHC

National Bank Holdings Q1 2024 GAAP EPS $0.82 Beats $0.76 Estimate, Sales $101.724M Miss $103.683M Estimate

In June 2022, New York Gov. Kathy Hochul announced a deal had finally been reached to <a href="https://www.benzinga.com/markets/cannabis/22/01/24932856/new-york-gov-kathy-hochul-pledges-200m-to-boost-social-equity-efforts-as-part-of-cannabis-legali">fund a $200 million public-private effort</a>, which would finance cannabis dispensaries run by the people who have been the most impacted by the war on drugs.
The much-anticipated public-private fund is now coming under scrutiny following an <a href="https://www.thecity.nyc/2024/04/24/cannabis-fund-social-equity-dispensary/">investigation</a> by THE CITY&#8217;s Rosalind Adams, which uncovered a "lopsided deal" favoring the private equity firm Chicago Atlantic Group and raising concerns about the state's social equity goals. 
The agreement heavily favors Chicago Atlantic, leaving the state exposed to significant risks, noted the outlet.
Even the New York Office of Cannabis Management (OCM) cast doubts on the fund&#8217;s viability according to internal OCM documents that questioned whether the deal had overstated the potential revenue and profit potential.
<h1 class="wp-block-heading">What Happened</h1>
New York state, unable to secure a private equity partner, agreed to a $50 million loan from Chicago Atlantic at a 15% interest rate, with all risk borne by the state.
Critics, including Reinvent Albany, an organization that advocates for government transparency and accountability, deemed the deal to have been detrimental to the state and prospective dispensary owners. Legal experts and consultants likened it to distressed debt lending.
Despite the skepticism and advice against the arrangement, negotiations ultimately led to a secret agreement benefiting Chicago Atlantic.
Previously, THE CITY revealed how cannabis licensees who accept loans from the social equity fund are burdened with high construction costs that they don't control and with interest rates that exceed the state's initial estimates.
"Everyone is worried about defaulting because of the rules and regulations of this loan," said Roland Conner, who runs <a href="https://www.benzinga.com/markets/cannabis/23/01/30496199/ny-gov-hochul-announces-opening-of-first-cannabis-shop-owned-by-person-impacted-by-war-on-drugs">Smacked on Bleecker Street</a> in Greenwich Village, the first legal dispensary owned by a person affected by the drug war.
<h1 class="wp-block-heading">Who's Responsible?</h1>
Details of the deal are still secret, with New York state authorities denying Freedom of Information Law requests. The state comptroller&#8217;s office and key lawmakers say they were not informed or involved in the making of the deal, exposing a shocking lack of oversight.
Meanwhile, Chicago Atlantic secured favorable terms, including leasing rights and a $100 million commitment for property development, raising yet more concerns about profiteering at the expense of marginalized communities.
<h1 class="wp-block-heading">Corruption Or Ineptitude?</h1>
The handling of New York&#8217;s cannabis program seems to reflect a corrosive mix of both ineptitude and potential corruption. While officials may have sought to support marginalized groups, their actions suggest a lack of due diligence and transparency.
One element of the story, which you can read in full <a href="https://www.thecity.nyc/2024/04/24/cannabis-fund-social-equity-dispensary/">here</a>, is that social equity applicants are furious.
A Queens shop owner, Dalessio, who was awarded a retail license designated for people impacted by past drug convictions told THE CITY that after a year of back and forth with the fund, he walked away from the deal.
"It just left such a bad taste in my mouth. I warned everyone I could to stay away from this deal," he said.
Photo: Courtesy of Branding Pot via Shutterstock

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Cannabis Saga In The Empire State: Corruption Or Ineptitude? Private Equity Tramples Social Equity, Report Reveals

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) reported quarterly Adj earnings of $0.13 per share which met the analyst consensus estimate. The company reported quarterly sales of $277.600 million which beat the analyst consensus estimate of $272.000 million by 2.06 percent. This is a 10.38 percent increase over sales of $251.500 million the same period last year.

Alamos Gold Q1 Adj EPS $0.13, Inline, Sales $277.600M Beat $272.000M Estimate

Piper Sandler analyst Clarke Jeffries maintains Tyler Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) with a Overweight and maintains $520 price target.

Piper Sandler Maintains Overweight on Tyler Technologies, Maintains $520 Price Target

Rogers, who will continue to serve as a director of Mativ and will assume the role of Audit Committee Chair.

Management

MATV

Mativ Holdings Appoints Kimberly Ritrievi As Chair Of Board, Succeeding John Rogers

First Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.59 by 10.17 percent. This is a 24.42 percent decrease over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $57.341 million which missed the analyst consensus estimate of $59.927 million by 4.32 percent. This is a 11.68 percent decrease over sales of $64.926 million the same period last year.

FBMS

First Bancshares Q1 2024 Adj EPS $0.65 Beats $0.59 Estimate, Sales $57.341M Miss $59.927M Estimate

Guidance

Veris Residential Raises FY24 Core FFO Per Share Outlook From $0.48-$0.53 To $0.50-$0.54, Est $0.53

Colony Bankcorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBAN#NASDAQ">CBAN</a>) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.31 by 6.45 percent. This is a 6.45 percent increase over earnings of $0.31 per share from the same period last year. The company reported quarterly sales of $28.141 million which beat the analyst consensus estimate of $27.600 million by 1.96 percent. This is a 0.30 percent decrease over sales of $28.227 million the same period last year.

CBAN

Colony Bankcorp Q1 2024 Adj EPS $0.33 Beats $0.31 Estimate, Sales $28.141M Beat $27.600M Estimate

Needham analyst Mike Matson maintains Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Buy and raises the price target from $71 to $82.

Needham Maintains Buy on Boston Scientific, Raises Price Target to $82

CVB Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVBF#NASDAQ">CVBF</a>) reported quarterly earnings of $0.35 per share which beat the analyst consensus estimate of $0.34 by 2.94 percent. This is a 16.67 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $126.574 million which beat the analyst consensus estimate of $116.576 million by 8.58 percent. This is a 8.89 percent decrease over sales of $138.930 million the same period last year.

CVBF

CVB Financial Q1 2024 GAAP EPS $0.35 Beats $0.34 Estimate, Sales $126.574M Beat $116.576M Estimate

Bridgewater Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>) reported quarterly earnings of $0.24 per share which missed the analyst consensus estimate of $0.25 by 4 percent. This is a 35.14 percent decrease over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $26.181 million which missed the analyst consensus estimate of $27.033 million by 3.15 percent. This is a 13.50 percent decrease over sales of $30.267 million the same period last year.

Bridgewater Bancshares Q1 2024 GAAP EPS $0.24 Misses $0.25 Estimate, Sales $26.181M Miss $27.033M Estimate

U.S. President Joe Biden&#8216;s recent signing of legislation has thrown ByteDance&#8217;s TikTok into the spotlight, with CEO Shou Zi Chew saying <a href="https://www.benzinga.com/news/24/03/38001945/amid-us-china-tussle-tiktok-content-creators-worry-about-bread-and-butter-if-app-ban-succeeds">the platform will fight back.</a>
&#8220;Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,&#8221; the CEO said in a two-minute&nbsp;<a href="https://www.tiktok.com/@tiktok/video/7361448925972155679" target="_blank" rel="noreferrer noopener">video</a>&nbsp;posted to TikTok&#8217;s main corporate account.
See Also: <a href="https://www.benzinga.com/news/24/04/38372058/analyst-predicts-tiktok-shutdown-in-us-by-next-year-ahead-of-senate-vote-will-not-operate-here">Analyst Predicts TikTok Shutdown In US By Next Year Ahead Of Senate Vote: &#8216;Will Not Operate Here&#8230;&#8217;</a>
Chew&#8217;s statement, delivered Wednesday, April 24, continued: &#8220;Politicians may say otherwise. But don't get confused. Many who sponsored the bill admit a TikTok ban is their ultimate goal.&#8221;
The legislation, part of a $95 million foreign aid package supporting Israel and Ukraine, was widely supported by the U.S. Senate and the House of Representatives.
It gives ByteDance, TikTok&#8217;s parent company, 270 days to find new owners. If ByteDance fails to comply, TikTok faces removal from Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google app stores in the U.S., People magazine <a href="https://people.com/tiktok-ceo-says-we-arent-going-anywhere-biden-signs-potential-ban-into-law-8638226">reported. </a>
Additionally, there&#8217;s a provision for a three-month extension if a sale is in progress by the initial deadline.
<h1 class="wp-block-heading">ByteDance&#8217;s TikTok Fights Back Against Ban</h1>
TikTok&#8217;s uncertain future stems from discussions that began during the COVID-19 pandemic. Former President Donald Trump initially proposed banning the app in April 2020, a move later paused by the Biden administration in February 2021. Currently, TikTok boasts 170 million American users.
The legislation presents concerns about security, with fears that TikTok could be used for Chinese surveillance or data access. TikTok denies these allegations, and the Chinese government asserts there&#8217;s no evidence supporting claims of national security threats. 
TikTok plans to challenge the legislation, citing freedom of speech. In his video, Chew expressed confidence in their legal fight: &#8220;Rest assured, we aren&#8217;t going anywhere.&#8221; 
&#8220;We are confident and we will keep fighting for your rights in the courts&#8230; The facts and the U.S. Constitution are on our side, and we expect to prevail again,&#8221; he added. 
<h1 class="wp-block-heading">Can I Keep Using TikTok? Exploring The Ban&#8217;s Impact</h1>
Don&#8217;t worry, TikTok won&#8217;t just vanish from your phone overnight.
It&#8217;s likely to be at least a year before any ban takes effect, with potential legal challenges possibly extending the timeline further. While TikTok has succeeded in court before, this marks a new challenge against federal legislation.
Concerning your TikTok app, it&#8217;s unlikely to disappear from your phone immediately. However, if the ban goes into effect it may vanish from Apple and Google&#8217;s app stores, meaning no new downloads, updates, or fixes, as <a href="https://www.nbcnewyork.com/news/national-international/tiktok-ban-us-what-to-know/5350848/#:~:text=No%2C%20TikTok%20will%20not%20suddenly%20disappear%20from%20your%20phone.">per</a> NBC New York. 
Over time, this could pose security risks and usability challenges.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">Microsoft And Oracle Could Be TikTok&#8217;s &#8216;Likely Buyers,&#8217; But Real Winners Would Be Mark Zuckerberg And Sundar Pichai</a>
Photo: <a href="https://www.shutterstock.com/es/g/salarko">salarko</a> on Shutterstock.

Asia

Regulations

Social Media

AAPL

GOOGL

TikTok Fights Back, 'We Aren't Going Anywhere': What's Next For Users?

Barrington Research analyst James Goss maintains Travelzoo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZOO#NASDAQ">TZOO</a>) with a Outperform and lowers the price target from $14 to $12.

TZOO

Barrington Research Maintains Outperform on Travelzoo, Lowers Price Target to $12

Nanobiotix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTX#NASDAQ">NBTX</a>) reported quarterly losses of $(1.17) per share which beat the analyst consensus estimate of $(1.66) by 29.52 percent. This is a 32.37 percent increase over losses of $(1.73) per share from the same period last year. The company reported quarterly sales of $39.323 million which beat the analyst consensus estimate of $13.680 million by 187.45 percent. This is a 681.30 percent increase over sales of $5.033 million the same period last year.

NBTX

Nanobiotix FY 2023 GAAP EPS $(1.17) Beats $(1.66) Estimate, Sales $39.323M Beat $13.680M Estimate

PennyMac Mortgage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PMT#NYSE">PMT</a>) reported quarterly earnings of $0.39 per share which beat the analyst consensus estimate of $0.32 by 21.88 percent. This is a 22 percent decrease over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $74.205 million which missed the analyst consensus estimate of $85.366 million by 13.07 percent. This is a 17.88 percent decrease over sales of $90.366 million the same period last year.

PennyMac Mortgage Q1 2024 GAAP EPS $0.39 Beats $0.32 Estimate, Sales $74.205M Miss $85.366M Estimate

CDMO

Avid Bioservices Maintains FY24 Revenue Guidance Of $137M-$147M, Est $138.656M

Pathward Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASH#NASDAQ">CASH</a>) reported quarterly earnings of $2.56 per share which beat the analyst consensus estimate of $2.30 by 11.3 percent. This is a 28.64 percent increase over earnings of $1.99 per share from the same period last year. The company reported quarterly sales of $247.246 million which beat the analyst consensus estimate of $240.460 million by 2.82 percent. This is a 8.23 percent increase over sales of $228.443 million the same period last year.

CASH

Pathward Financial Q2 2024 GAAP EPS $2.56 Beats $2.30 Estimate, Sales $247.246M Beat $240.460M Estimate

Warning: BBWI is at high risk of cutting its dividend

Bath & Body Works: Downgrading To Hold As I Monitor Industry Demand For 1H24

Tracking Lone Pine Capital Portfolio - Q4 2023 Update

Top 20 S&P 500 stocks by hedge fund net exposure - BofA

Exercise equipment maker Peloton (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) was on top of the world about four years ago, during the worst of the pandemic, as a population that...

Peloton (NASDAQ:PTON) Notches Up Despite Potential Cash Crunch

In a report released today, Korinne Wolfmeyer from Piper Sandler maintained a Hold rating on Bath & Body Works (BBWI – Research Report), with a pri...

Piper Sandler Keeps Their Hold Rating on Bath & Body Works (BBWI)

Celsius, Starbucks, McDonald's and e.l.f. Beauty stand out in a survey of teenagers

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
At the beginning of 2024, <a href="https://investorplace.com/industries/consumer-discretionary/retail/">retail stocks</a> has a bright outlook. Consumer spending was holding up, the rate of inflation was easing, and there were expectations of an interest-rate cut. &nbsp;



That three-legged stool looks more unstable. The latest reading on inflation showed an uptick that is likely to follow oil prices higher, and Federal Reserve chair Jerome Powell is making it clear that investors should not count on rate cuts anytime soon.&nbsp;



Still, it&rsquo;s not altogether crazy to invest in retail stocks. As the latest retail spending numbers showed, consumer spending is holding up. With late-filing consumers in line to receive their tax refunds in coming weeks, spending will remain strong. &nbsp;



That means some retailers will be in line to report solid earnings. And many of these stocks are offering good value for investors. &nbsp;



This doesn&rsquo;t mean you have to focus on defensive stocks such as consumer staples. But you still want to focus on retail stocks with strong demand, growing earnings, and an e-commerce presence. Here are seven budget-friendly stocks to consider. &nbsp;



<h2>Bath &amp; Body Works (BBWI)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/lb-stock-l-brands-bath-and-bodyworks-300x169.jpg" alt="A Bath &amp; Bodyworks storefront"><div>Source: Shutterstock</div></div>Bath &amp; Body Works (NYSE:<a href="https://investorplace.com/stock-quotes/bbwi-stock-quote/">BBWI</a>) is a well-known specialty retailer of home fragrance, body care, and soaps and sanitizer products. 



The company has a loyal customer base which is reflected in a base of approximately <a href="https://investors.bbwinc.com/static-files/ba23a192-feea-4ca2-870d-348de746d368" target="_blank">37 million &ldquo;loyalty&rdquo; customers that accounted for about 80% of the company&rsquo;s sales</a> in 2023. &nbsp;



By almost any meaningful measure: free cash flow, operating margin, net margin, and earnings per share, Bath &amp; Body Works had a solid year in 2023. But the stock is down 5.7% in the month following its fourth quarter and full-year earnings report. 



That&rsquo;s because the company forecast slightly lower guidance for 2024. And that guidance was given when the company was expecting near-term interest rate cuts. &nbsp;



However, at 13x forward earnings, BBWI stock is undervalued compared to the <a href="https://yardeni.com/charts/consumer-discretionary-retail-composite/" target="_blank">composite retail average of around 29x</a>. 



Analysts are forecasting a <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NYSE%3ABBWI&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NYSE%3ABBWI" target="_blank">potential 14% upside</a> in the stock price. And if analysts are correct about the 12.7% increase in earnings, investors may also be in line for a dividend increase. &nbsp;



<h2>Target (TGT)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/tgt_1600-300x169.jpg" alt="Image of the Target (TGT) logo on a storefront."><div>Source: jejim / Shutterstock.com</div></div>Target (NYSE:<a href="https://investorplace.com/stock-quotes/tgt-stock-quote/">TGT</a>) was one of the heavily beaten-down retail stocks in 2023. 



However, with the stock off to a 16% gain through mid-April, the stock is now up about 2% in the last 12 months. And there appears to be room for the stock to move higher.&nbsp;



Not all was rosy in the company&rsquo;s fourth quarter earnings report. Year-over-year comparable store sales were down. The same was true for digital sales. But when it came to the metric that matters the most, earnings, the company reported a 58% YOY increase. &nbsp;



It&rsquo;s true that the company offered <a href="https://corporate.target.com/press/release/2024/03/target-corporation-reports-fourth-quarter-and-full-year-2023-earnings" target="_blank">cautious guidance</a>. But that&rsquo;s true for all retailers. TGT stock is attractively valued at 17.5x earnings. 



Plus those earnings, even on the low end of the company&rsquo;s guidance easily support an increase to the company&rsquo;s dividend. That would make it 54 consecutive years of increases for Target.&nbsp;



<h2>Foot Locker (FL)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/fl1600-300x169.jpg" alt=""><div>Source: Roman Tiraspolsky / Shutterstock.com</div></div>Foot Locker (NYSE:<a href="https://investorplace.com/stock-quotes/fl-stock-quote/">FL</a>) is in a continued downtrend that&rsquo;s been going on for over two years. FL stock is down 46% in the last 12 months and 29% in 2024. 



The latest reason for investors to sour on the retailer was weaker than expected guidance. &nbsp;



However, the latest dip in FL stock may be a case of price discovery. That&rsquo;s because there have been a handful of analyst upgrades since the company reported earnings in March. 



Opinions are mixed, but the stock has a <a href="https://www.tradingview.com/chart/aMepJfAr/?symbol=NYSE%3AFL&amp;utm_source=www.marketbeat.com&amp;utm_medium=widget&amp;utm_campaign=chart-logo&amp;utm_term=NYSE%3AFL" target="_blank">consensus price target</a> that points to about 15% share price growth. &nbsp;



A key reason for this change in sentiment came from Nike (NYSE:<a href="https://investorplace.com/stock-quotes/nke-stock-quote/">NKE</a>) which accounts for about 65% of Foot Locker&rsquo;s sales. Nike has been moving to a direct-to-consumer model, but in the company&rsquo;s last earnings report, it&rsquo;s now saying it&rsquo;s taking a closer look at its wholesaler strategy. &nbsp;



Foot Locker is also making a pivot to digital and cited an approximately <a href="https://investors.footlocker-inc.com/static-files/d7e633d6-0bb4-416b-89c7-3a7c003c2894" target="_blank">10% growth in YOY digital sales</a>. And the company expects that number to grow by approximately 25% by 2026. &nbsp;



<h2>McDonald&rsquo;s (MCD)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/mcd1600-1-300x169.png" alt="New McDonalds Being Built in 2020, Close Up of Main McD Sign"><div>Source: Retail Photographer / Shutterstock.com</div></div>McDonald&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/mcd-stock-quote/">MCD</a>) has been showing up in my social media feeds for the past few months. Some say the prices are too high, others say it&rsquo;s still a value. Those familiar with the business model know that it depends on where you live. 



The company is mostly franchisee-owned, and those franchises are free to set their own prices. The point being, how you perceive MCD stock may have a lot to do with how you perceive its value. &nbsp;



Not that pricing isn&rsquo;t an issue. The <a href="https://investorplace.com/2024/04/7-dividend-growth-stocks-to-buy-now-q2-edition/" target="_blank">company acknowledges as much</a>. However, the company&rsquo;s digital game, which it was working on before 2020, is on point, and a way for cash-strapped consumers to get instant daily deals. &nbsp;



Another consistent knock on MCD stock is that growth is behind it. But it should be noted that the company beat revenue and earnings estimates in every quarter in 2023. 



The stock is up 38% in the last five years. Not eye-watering growth, but when you add in the dividend, a significant total return for investors. &nbsp;



<h2>Dollar General (DG)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/dg1600-300x169.jpg" alt="Dollar General (DG) store front with yellow store sign, midday"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Dollar stores were among the worst-performing retail stocks in 2023. And Dollar General (NYSE:<a href="https://investorplace.com/stock-quotes/dg-stock-quote/">DG</a>) was no exception. 



This reflects the effect that inflation has on the low-income consumers that are a core base of the dollar store model. &nbsp;



But after a double beat on earnings in March, investors are starting to see the value of DG stock. It&rsquo;s true that higher-for-longer interest rates are a headwind. But as the company&rsquo;s earnings report shows, investors may be too negative. &nbsp;



One reason that I&rsquo;ve mentioned before is the company&rsquo;s <a href="https://investorplace.com/2024/04/forget-the-bad-cpi-news-buy-the-dip-in-these-3-runaway-earnings-winners/" target="_blank">strategy regarding store location</a>. The company ensures it&rsquo;s located in rural areas and other spots not easily serviced by big-box retailers. &nbsp;



But that doesn&rsquo;t mean Dollar General isn&rsquo;t leaning into digital. The company has ramped up its digital presence with MyDG which gives consumers access to online-only coupons. In 2023, the company reported <a href="https://ecommercedb.com/store/dollargeneral.com" target="_blank">$381.3 million in digital sales</a>. This was comparable to 2020, which shows that the pivot is going well. &nbsp;



In times of ongoing market volatility, you should be looking for <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> that are best in class. DG stock checks that box. &nbsp;



<h2>Tractor Supply Company (TSCO)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/TSCO1600-300x169.jpg" alt="A Tractor Supply Co. Store"><div>Source: Shutterstock</div></div>Tractor Supply Company (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsco-stock-quote/">TSCO</a>) is a rural lifestyle retailer with over 2,200 stores in 49 states. 



The company has been delivering mixed revenue and earnings results over the last year. TSCO stock is up 139% over the last five years. However, it&rsquo;s only up about 1% in the last 12 months and that&rsquo;s because of the 15% rally in 2024. &nbsp;



But this is a time to remember why you want to own a quality dividend stock. In February, the company raised its dividend for the fifteenth consecutive year. It&rsquo;s been growing the dividend at around a 40% average over the last three years, but still has a sustainable payout ratio of around 48%. &nbsp;



There are a lot of reasons to like Tractor Supply Company as an undervalued retail stock. But the price action on TSCO stock shows that the stock recently broke above a level of resistance at $248. 



After a pullback, that price is now being tested as a line of support. A bullish earnings report in late April may be the fuel that the stock needs to take the next leg higher.&nbsp;



<h2>Lovesac (LOVE)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/love-stock-1-300x169.jpg" alt="lovesac storefront"><div>Source: BCFC / Shutterstock.com</div></div>Lovesac (NASDAQ:<a href="https://investorplace.com/stock-quotes/love-stock-quote/">LOVE</a>) rounds out this list of budget-friendly retail stocks. This is no value stock. Lovesact is a young company that is still in the expansion phase. 



In its most recent quarter, it gave mixed results, but one shining star was expanding margins. That had been a problem for the company. &nbsp;



One time doesn&rsquo;t make a pattern. But it should allow investors to focus on other <a href="https://d1io3yog0oux5.cloudfront.net/_7862ad9fd4f4221bf0e66edcd2ae0f5c/lovesac/db/781/6928/pdf/LOVE+Q3+FYE+2024+Investor+Presentation+%28Final%29.pdf" target="_blank">positive developments</a> such as a 15% increase in store count, positive cash flow that almost doubled between 2022 and 2023. That highlights the company&rsquo;s inventory reduction that puts Lovesac in a good position as it waits for a more favorable monetary environment. &nbsp;



Short interest of over 30% is concerning. But institutional investors own 92% of the stock&rsquo;s float and the overwhelming sentiment is bullish. That means investors with some appetite for speculation could see a small position slingshot higher if the company continues to deliver strong earnings. &nbsp;



On the date of publication, Chris Markoch had a LONG position in MCD. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-budget-friendly-retail-plays-due-for-a-tax-refund-spending-boost/">7 Budget-Friendly Retail Plays Due for a Tax Refund Spending Boost</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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EPAM

EXPE

EXPR

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Press Releases

Bath & Body Works to Present at the Goldman Sachs 30th Annual Global Retailing Conference

Bath & Body Works to Report Third Quarter Financial Results on November 16, 2023

Dividends

Bath & Body Works Declares Cash Dividend

Bath & Body Works Reports Third Quarter 2023 Earnings Results

Bath & Body Works to Present at the Morgan Stanley Global Consumer & Retail Conference