Bath And Body Works Forecasts Wider Sales Drop
Bath And Body Works predicted a larger than expected third quarter sales decline due to weak store traffic. However the company raised its annual profit forecast.
Insights:
Bath & Body Works forecast a third-quarter sales decline of between 2.5% and 5% on Wednesday, missing expectations as weak store traffic dampens its turnaround. The drop exceeds the 2.9% decline analysts anticipated for the period. The retailer's struggles highlight ongoing softness in mall traffic that early-stage product innovations have yet to offset.
