BBWI - Why Bath & Body Works Stock Was Surging Today
Shares of Bath & Body Works (NYSE: BBWI) were up 24% as of 1:18 p.m. EST on Thursday after the company announced better-than-expected earnings results.
Weak sales growth amid a weak economic backdrop has sent the stock down 44% year to date, but the company is still not out of the woods.
Management attributed the quarter's performance to "innovation and newness," but it's still a rough environment for retailers as the company's sales declined by 5% year over year. This translated to a 40% drop in earnings per share from continuing operations to $0.40.
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Why Bath & Body Works Stock Was Surging Today