Bath & Body Works Inc. reported net income of 40 cents a share for its third quarter, handily topping analysts’ expectations of 20 cents a share (based on FactSet poll). The figure was 66 cents a share in the year-ago quarter.
The fragrance and skincare company’s revenue decreased -5% to $1.6 billion, vs. analysts’ expectations of $1.56 billion.
For the fourth quarter (including the key holiday season), Bath & Body Works is expecting earnings per share of $1.45 to $1.65, compared to FactSet consensus of $1.54. For the full year, Bath & Body Works projected earnings of between $3.00 a share and $3.20 a share, up from a prior forecast of $2.70 to $3.00. FactSet consensus forecast is $2.89 a share for the full year.