Q2 sales down 2.1% on year (Il Sole 24 Ore Radiocor) - New York, 28 Aug - Bath & Body Works cut its annual sales forecast as it takes a more cautious approach to a "choppier macroeconomic environment".

The Ohio-based group said it expected 2024 net sales to fall between 2-4%, compared to a previous forecast of a fall of 2.5-0.0%.

It said it expected annual adjusted profit to be 3.06-3.26 dollars per share, compared to a prior 3.05-3.35.

"As we look forward to the rest of the year, we are taking a prudent approach to our outlook and adjusting our full-year guidance given the choppier macroeconomic environment and first half sales trends," said Gina Boswell, CEO of Bath & Body Works.

In the second quarter ended August 3, net sales were 1.526 billion dollars, down 2.1% on the same period last year.

Earnings per diluted share in the period were 0.68 dollars compared to 0.43 a year ago. On an adjusted basis, EPS was 0.37 dollars compared to 0.40.

AAA-Sje

(RADIOCOR) 28-08-24 14:36:37 (0338) 5 NNNN