Shares down 8% in premarket trade (Il Sole 24 Ore Radiocor) - New York, 04 Jun - Bath & Body Works said its net sales in the first quarter, ended May 4, were 1.384 billion dollars compared to 1.396 billion in the same period a year ago.

Earnings per diluted share in the three months were 0.38 dollars compared to 0.35 for the same period of the prior year.

Analysts had expected net sales in the quarter of 1.37 billion dollars and adjusted EPS of 0.33 dollars.

For fiscal year 2024, the company narrowed its guidance by raising the midpoint for both the top-and bottom-lines and is now forecasting net sales to range between a decline of 2.5% to flat, relative to 7.429 billion of net sales in fiscal 2023.

Full-year earnings per diluted share is now expected to be between 3.05-3.35 dollars, compared to EPS of 3.84 and adjusted EPS of 3.27 in fiscal 2023.

At 1218 GMT shares were down 8% in premarket trading.

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(RADIOCOR) 04-06-24 14:30:38 (0418) 5 NNNN