Bath & Body Works Lowers Annual Sales Forecast Amid Consumer Spending Shifts

The retailer adjusts its guidance due to economic uncertainty and changing consumer priorities.

Bath & Body Works expects a 2% to 4% decline in net sales for 2024, revising its previous forecast.
Second-quarter net sales fell short of expectations, with a 2.1% decrease from the previous year.
CEO Gina Boswell cites a cautious consumer environment and economic challenges as reasons for the adjustment.
Despite lower sales, the company reported a slight increase in adjusted profit per share, aided by cost-reduction measures.
The retailer is expanding its men's product line and international presence to drive future growth.