Bath & Body Works: Downgrading To Hold As I Monitor Industry Demand For 1H24 [Seeking Alpha]
Bath & Body Works, Inc. (BBWI)
Company Research
Source: Seeking Alpha
Sales grew by 0.8% and gross margin beat estimates, but international and e-commerce sales declined. Concerns about meeting FY24 guidance, potential de-rating of stock valuation, and limited upside potential at 14x forward earnings contribute to the hold rating. Summary My previous rating was a buy (Dec 2023) as Bath & Body Works ( NYSE: BBWI ) continued to show very strong execution, as evident in the 3Q23 performance, which I expected to continue into CY24. I am revising my rating from buy to hold as I am worried about BBWI's ability to meet FY24 guidance. Now that the stock is trading at 14x earnings, the expectation embedded is very different from a few months ago. If BBWI were to miss guidance, I am afraid that the market will punish the stock's valuation by derating it downward. Financials / Valuation In 4Q23 (2024 Feb 29), overall sales grew by 0.8% to $2.91 billion, coming in above the consensus of $2.84 billion. Sales were driven by 4% growth in U.S. and Canadian s
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BBWI
News
- Bath & Body Works Recognized by Forbes as One of "America's Best Employers for Diversity" [Yahoo! Finance]Yahoo! Finance
- Bath & Body Works, Inc. (NYSE: BBWI) had its price target raised by analysts at Wells Fargo & Company from $42.00 to $48.00. They now have an "equal weight" rating on the stock.MarketBeat
- Bath & Body Works ESG Efforts Recognized With PR News Impact Communications Award [Yahoo! Finance]Yahoo! Finance
- Bath & Body Works Named to USA Today's List of "America's Customer Service Champions" [Yahoo! Finance]Yahoo! Finance
- A Look Back at Specialty Retail Stocks' Q4 Earnings: Bath and Body Works (NYSE:BBWI) Vs The Rest Of The Pack [Yahoo! Finance]Yahoo! Finance
BBWI
Earnings
- 2/29/24 - Beat
BBWI
Sec Filings
- 4/22/24 - Form 8-K
- 3/28/24 - Form 4
- 3/27/24 - Form 144
- BBWI's page on the SEC website