24 stories mentioning BBWIUpdated 4d ago
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Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.8%.In corporate news, Bath & Body Works' (BBWI) fiscal Q1 results exceeded market estimates, while the personal care and home fragrance retailer said its chief financial officer plans to step down. Its shares rose 11%.
Bath & Body Works' (BBWI) fiscal first-quarter results exceeded Wall Street's estimates, while the personal care and home fragrance retailer said its chief financial officer plans to step down.The company on Wednesday reported adjusted per-share earnings of $0.32 for the quarter ended May 2, down from $0.49 a year earlier but higher than the FactSet-polled consensus of $0.29. Sales declined 3% to $1.38 billion, while analysts expected $1.36 billion.Shares of Bath & Body Works were up 17% intraday and turned positive for the year, with a year-to-date gain of 3.5%.The company's turnaround strategy is working, with its impact expected to build through the year, Chief Executive Daniel Heaf said during an earnings call, according to a FactSet transcript.Bath & Body Works CFO Eva Boratto will step down, effective June 12, to pursue another opportunity, the company said in a statement. While a search for a new CFO is underway, insider Tom Javitch will assume the role on an interim basis, according to the statement.Bath & Body Works affirmed its fiscal 2026 adjusted EPS guidance of $2.40 to $2.65, while analysts are looking for $2.64. The company continues to expect a 2.5% to 4.5% drop in full-year net sales, while the Street is projecting a decline to $7.08 billion from the previous year's $7.29 billion.For the second quarter, the company anticipates EPS between $0.20 and $0.25 on a 3% to 5% decline in net sales year over year. Analysts are looking for GAAP EPS of $0.21 and revenue of $1.49 billion.Price: $20.81, Change: $+3.08, Percent Change: +17.34%
Bath & Body Works (BBWI) reported fiscal Q1 adjusted earnings Wednesday of $0.32 per diluted share, compared with $0.49 a year earlier.Analysts surveyed by FactSet expected $0.29.Revenue for the quarter ended May 2 was $1.38 billion, compared with $1.42 billion a year earlier.Analysts surveyed by FactSet expected $1.36 billion.For fiscal 2026, the company maintained its adjusted EPS guidance of $2.40 to $2.65 per diluted share. Analysts surveyed by FactSet expect $2.64.Shares of Bath & Body Works were surging more than 12% pre-bell Wednesday.Price: $19.88, Change: $+2.14, Percent Change: +12.06%
US equity futures were trending higher on Wednesday amid tech-driven momentum from the previous trading session, while investors continue to monitor ongoing uncertainty in the Middle East.The S&P 500 rose 0.3%, the Dow Jones Industrial Average gained 0.5% and the Nasdaq added 0.4% in premarket activity. The Nasdaq and the S&P 500 finished Tuesday trading at new record peaks, while the Dow closed lower.Shares of Micron Technology (MU) advanced 5.7% pre-bell after finishing the prior session up 19%. The semiconductor manufacturer's market capitalization crossed the $1 trillion mark for the first time on Tuesday, with UBS Securities increasing its price target on the company's stock.Marvell (MRVL) rose 6% before the bell, while Seagate (STX) and Western Digital (WDC) gained 3.6% and 3.3%, respectively.Investors are also keeping an eye out for any updates on peace talks between the US and Iran. Tehran's Islamic Revolutionary Guard Corps reportedly said Tuesday that Iran has a "legitimate" right to respond to any violation of a ceasefire by the US.Earlier in the week, the US military targeted Iranian missile launch sites and boats around the crucial Strait of Hormuz, in what it described as "self-defense strikes," according to multiple media outlets. President Donald Trump said Monday that negotiations with Iran were "proceeding nicely.""While an extended conflict with Iran remains the largest risk to continued market gains, in our view, markets are positioned for more progress on peace talks and the Strait of Hormuz reopening," D.A. Davidson said in a report Tuesday.West Texas Intermediate crude oil declined 4% to $90.12 a barrel before the opening bell, while Brent fell 3.2% to $96.43.Treasury yields were down in premarket action, with the two-year rate retreating 2.9 basis points to 4.02% and the 10-year rate off 2.6 basis points to 4.47%.US consumer confidence fell in May amid mounting inflation concerns as the Middle East conflict has stretched for about three months now, a survey by the Conference Board showed Tuesday.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Federal Reserve Bank of Richmond's manufacturing index for May at 10 am. The Atlanta Fed's survey of business uncertainty for this month is out at 11 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 3:55 pm, while Fed Vice Chair Philip Jefferson speaks later at 8 pm.PDD (PDD), Dick's Sporting Goods (DKS), Dycom Industries (DY), Bath & Body Works (BBWI), Abercrombie & Fitch (ANF), Manchester United (MANU) and Capri (CPRI) report their latest financial results before the bell, among others. Marvell, Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) post their earnings after the markets close.Gold edged down 0.4% to $4,484 per troy ounce, while bitcoin was up slightly at $75,878.
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