After several years of sales and margin declines, Bath & Body Works’ (BBWI) sales in the second half of 2024 inflected positively, and FY25 revenue guidance points to growth, Citigroup analyst Paul Lejuez says, all of which suggest a higher multiple will follow.
The soft guidance “appears prudently conservative,” says Dana Telsey from Telsey Advisory Group, since it assumes a change in U.S. trade policy towards China and the “value seeking customer behavior” CEO Gina Boswell touched on during the earnings call.
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