Bath & Body Works Stock Jumps 21% on Q3 Earnings Beat, Raises Guidance Amid Dow Jones Surge

Nov 25, 2024, 02:15 PM

Bath & Body Works Inc. reported a significant earnings beat for the third quarter of fiscal year 2024, with earnings per share (EPS) of $0.48, surpassing estimates by $0.01. The company's revenue reached $1.61 billion, exceeding expectations by $30 million and marking a 3.07% year-over-year increase. Following the earnings release, Bath & Body Works raised its full-year guidance for 2024, leveraging an agile U.S. supply chain to position itself strongly for the holiday season. The company's stock surged in pre-market trading, with gains of up to 21% reported. CEO Gina Boswell highlighted that the strong results exceeded the high end of their net sales guidance. This news comes as the Dow Jones Industrial Average surged over 300 points today.