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Bath & Body Works, Inc. (BBWI) reported a 1% decline in total net sales to $1.6 billion during Q3 2023, reflecting weakened consumer spending on non-essential home products. Management noted that without an extended fall sale, results would have been worse. The company anticipates a challenging Q4 with sales down in the high single digits as it heads into the key holiday season.
BBWI faces stiff competition from major retailers like Sephora, Ulta Beauty, Target, and Walmart, which are expanding their fragrance and body care lines, resulting in market share losses for Bath & Body Works. Zacks Consensus Analyst Estimates project negative earnings growth for the next two years.
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