BBWI - Bath & Body Works gains after guidance update new buyback plan

Bath & Body Works (BBWI +4.0%) moved higher on Wednesday after the retailer displayed a strong holiday quarter performance in the updated released earlier. BBWI preannounced Q4 revenue of $3.03B vs. $2.97B consensus and EPS of $2.28, which lands at the high end of the guided range of $2.10 to $2.25 and just short of the consensus mark of $2.30 The board also authorized a $1.5B repurchase program, $1B of which will be completed via an accelerated program. Bath & Body Works (NYSE:BBWI) noted that it ended the fiscal year with approximately $2B in cash. Looking ahead, the plan is to remained focused on strong brand positioning, as well as delivering sustainable growth. Bank of America reiterated a Buy rating on BBWI following the update and became even more constructive on the retailer. Analyst Lorraine Hutchinson: "We continue to view BBWI as one of the most consistent growth stories in

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Bath & Body Works gains after guidance update, new buyback plan