(Finance) – Marked rise for Bath & Body Workswhich converts into a profit of 2.60% on previous values.
The perfume and body care retailer ended the second quarter with revenues down 3.6% to 1.559 billion dollars and a Net income of $99 million ($120 million in Q2 2022). Operating profit dropped to 188 million from 242 million.
For the full year Bath & Body Works estimates net revenues down between 1.5% and 3.5% compared to 7.56 billion in 2022 while earnings per share are expected to be between 2.85 and 3. $15 ($3.40 in 2022).
The one-week trend of Bath & Body Works is more sluggish than the trend ofS&P-500. Such decline could trigger opportunities for the market to sell the stock.
The technical framework of Bath & Body Works it signals a widening of the negative trend line with a drop to the support seen at USD 34.17, while on the upside it identifies the resistance area at 36.71. Forecasts are for a possible further retreat with a target set at 32.5.