other material
confidence high
sentiment negative
materiality 0.80
Bath & Body Works lowers Q2 and FY 2022 guidance on inflation pressure
Bath & Body Works, Inc.
- Q2 sales now expected down 6-7% YoY vs prior guide of low single-digit increase.
- Q2 EPS from continuing ops guided to $0.40-$0.42, down from $0.60-$0.65.
- Full-year sales forecast lowered to down mid-to-high single digits from low single-digit increase.
- Full-year operating income rate estimated in the mid-teens; EPS details deferred to Q2 earnings Aug 17.
- Cites inflationary pressure affecting customers and the business; clean inventory allows adaptation.