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- The BBWI stock was up over 25 per cent on Thursday.
- Bath & Body Works reported its latest quarterly earnings results on November 16.
- The company raised its annual diluted earnings guidance from continuing operations.
The stocks of the retail store company Bath & Body Works, Inc. (NYSE: BBWI) were among the top percentage gainers in the US market on Thursday, November 17, as seen by the jump in its price.
Soon after Wall Street trading commenced on Thursday, the BBWI stock ticked up over 25 per cent, a day after the company reported its latest financial results.
So, let's take a look at the company's earnings release and its recent stock movements for cues on how it has performed in the latest quarter.
Bath & Body Works is a retail store chain operator based in Reynoldsburg, Ohio. The company sells self-care and bathroom products like soaps, fragrances, lotions, etc. It is one of the major bath shop chains in the US.
The company's earnings results from November 16 showed that its revenue decreased by 4.5 per cent YoY to US$ 1.6 billion in Q3 FY22 The retail-store chain operator's diluted earnings from continuing operations were US$ 0.4 apiece, against US$ 0.66 in Q3 FY21.
Meanwhile, the company said that its diluted EPS from continuing operations exceeded its guidance range of US$ 0.10 per share to US$ 0.20 apiece.
Bath & Body Works' gross profit totaled US$ 677.59 million in the recent quarter, against US$ 838.75 million in Q3 FY21. However, its net income noted a surge to US$ 91.02 million from US$ 87.8 million in Q3 FY21.
For the first nine months ended October 29, 2022, the US-based bath shop chain's net income totaled US$ 365.94 million on revenue of US$ 4.67 billion, compared to an income of US$ 738.61 million on revenue of US$ 4.85 billion.
The price of the BBWI stock was US$ 38.997 at 9:41 am ET on Thursday, November 17, an increase of 25.27 per cent from its previous close, while its trading volume was more than 2.48 million. The company's stock closed at US$ 31.33 on Wednesday.
Bath & Body Works expects its final quarter diluted earnings from continuing operations to be between US$ 1.45 and US$ 1.65 per share. It has raised its annual diluted earnings from continuing operations to be between US$ 3 and US$ 3.20, from its prior guidance of US$ 2.70 and US$ 3.00.
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