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By Remy Blaire Wall Street settled higher for the second session in a row. The Dow Jones Industrial Average (^DJI) managed to add another triple-digit gain heading into the closing bell, tracking the Nasdaq and S&P 500 into positive territory. The Nasdaq-100 (IXIC) extended its surge higher bringing its advance above 25% YTD. Retailer earnings are painting a mixed picture on consumer spending across the nation. Discretionary spending patterns were reflected in quarterly results for Walmart (WMT), Target (TGT) and Home Depot (HD). One retailer shrugging off analyst skepticism over discretionary purchases is Ohio-based Bath & Body Works (BBWI). Shares of the company rallied over 10% with trading volume coming in at over three times the daily average, after it reported fiscal Q1 earnings that topped estimates and as it raised its full-year guidance. The maker of body care products and home fragrances is expanding its lineup to include men’s grooming items, haircare, and laundry. Bath & Body Works found success with its customer loyalty program, limited edition product drops, and addition of natural product formulations. The retailer offers a dizzying array of fragrances for everyday hand soap and hand sanitizer, from Firecracker Fizz, Wildberry Lemonade to Poolside Pomelo. Bath & Body Works hopes to boost revenue in 2023 with the addition of essential household items to its product lineup – including scented shampoo and detergents.
Wall Street traded mixed on a cocktail of economic data and earnings reports, as investors keep an eye on the progress of ongoing debt ceiling negotiations.The latest U.S. data releases reflected economic uncertainty across the nation as higher inflation and interest rates affected the consumer.April existing home sales declined 3.4% from March, to a seasonally adjusted annual rate of 4.28 million – but the reading was not as dire as expected. The National Association of Realtors report showed that sales tumbled 23.2% compared to a year earlier, while the national median price of existing homes posted its biggest annual decline in over a decade.Other data releases included the Conference Board’s Leading Economic Index that showed a decline for the 13th consecutive month in April, while weekly jobless claims fell to 242,00 in the week ended May 13. Earnings from retailers on Thursday showed a divergence from results earlier this week. Walmart (NYSE: WMT) shares ticked higher on strong sales in the recent quarter as the bellwether upped its full-year outlook. Bath & Body Works (NYSE: BBWI) shrugged off negative expectations for an easing of discretionary spending among consumers as it launched innovative new products and special drops of limited-time items. The maker of fragranced body care products and candles reported fiscal Q1 earnings that topped forecasts and boosted its guidance. Shares advanced 10% following the earnings release.
Yahoo Finance markets contributor Remy Blaire discusses current investor sentiment as markets react to the possibilities of the Fed's next move concerning interest rates.
2023 is going to be tough for this personal care company.
Yahoo Finance Live’s Julie Hyman discusses the rise in stock for Bath & Body Works following fourth-quarter earnings.
NEW YORK, February 22, 2023--Third Point LLC (LSE: TPOU), a New York-based investment firm managing approximately $13 billion in assets, today sent a letter to Bath & Body Works, Inc.’s (NYSE: BBWI) Board of Directors. The full text of the letter is below.
Shares of Bath & Body Works moved to the downside after Citi downgraded the stock to Neutral.
Investors need to pay close attention to Bath & Body Works (BBWI) stock based on the movements in the options market lately.
Yahoo Finance Live anchors discuss activist investor Dan Loeb’s Third Point hedge fund raising its stake in Bath & Body Works.
Yahoo Finance Live anchors discuss third-quarter earnings for Bath & Body Works.
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Bath & Body Works (BBWI) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
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Bath & Body Works, Inc. ( NYSE:BBWI ) stock is about to trade ex-dividend in three days. The ex-dividend date is...
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This week we saw the Bath & Body Works, Inc. ( NYSE:BBWI ) share price climb by 13%. But in truth the last year hasn't...
One of the leading candle and hand sanitizer sellers in the country issued a brutal warning to investors amid broader pressure on consumer spending.
Yahoo Finance Live anchors discuss Bath & Body Works cutting its second-quarter earnings guidance as the retailer faces heavy discounting, inflation, and other headwinds.
Yahoo Finance Live anchors discuss Wall Street analyst expectations for Bath & Body Works as well as reports that Victoria's Secret is cutting 5% of staff amid a broader reorganization.