Why Bath & Body Works Stock Was Up This Week
Bath & Body Works (NYSE: BBWI) shareholders had a good week. Their stock rose 14% through Thursday trading compared to a 1.8% boost in the S&P 500. Yet this rally only erased a small portion of recent losses as the stock is down 11% in 2023, according to data provided by S&P Global Market Intelligence, compared to the wider market's 9% increase.
The rally was sparked by good news on the earnings front that was tempered by weak growth results through late April.
Bath & Body Works said on Thursday that first-quarter sales trends met management's conservative targets. Revenue fell 4% through April on sluggish demand in categories like home fragrance and personal care. Executives said the selling environment wasn't ideal as consumers became more cautious and inflation pushed supply chain costs higher.
Source Fool.com
