BBWI - Bath & Body Works shares slip as trimmed forecast overshadows earnings beat

Bath & Body Works (NYSE:BBWI) is sliding in Wednesday’s extended session after trimming its full-year forecast. The Columbus, Ohio-based specialty retailer reported a beat on top and bottom lines for the first quarter. The company reported non-GAAP EPS of $0.64, above expectations by $0.12, alongside revenue of $1.45 billion that narrowly beat estimates by just $10 million. However, it was the company’s guidance that attracted the market’s attention and sent shares south after hours on Wednesday. While management indicated it saw “positive store traffic and transaction trends” in the quarter and remains nimble in adjusting to trends, profit forecasts were still pulled back. The retailer now expects diluted earnings per share to fall to a range between $0.60 and $0.65 in the second quarter, compared to $0.77 in the prior year quarter. For the full year, the company expects between $3.80 and $4.15 in earnings per share, well below both

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Bath & Body Works shares slip as trimmed forecast overshadows earnings beat