Bath & Body Works Inc. experienced a significant surge in its shares, which was the largest increase since 2022. This was a result of the company revising its profit forecast for the year.
The fragrance retailer reported strong results for the most recent quarter, leading to an adjustment in its expectations for adjusted earnings per share. The new range is $3.15 to $3.28, which is higher than the previous guidance of $3.06 to $3.26. Market analysts had predicted earnings of $3.23 per share. The positive outlook reflects the company's strong performance and confidence in its financial trajectory, indicating potential growth in the retail sector.