Latest news with #TelseyAdvisoryGroup
Yahoo
2 days ago
- Business
- Yahoo
Why Bath & Body Works, Inc. (BBWI) Crashed On Monday
We recently published a list of . In this article, we are going to take a look at where Bath & Body Works, Inc. (NYSE:BBWI) stands against other worst performers on Monday. Bath & Body Works dropped its share prices by 4.94 percent on Monday to end at $26.73 apiece as investor sentiment was dampened by an investment firm's lower price target for the company. On Friday, Telsey Advisory Group reduced its price target for Bath & Body Works, Inc. (NYSE:BBWI) to $38 from $43 previously, but maintained it 'buy' recommendation on its stock. A female customer browsing a variety of body care products in a retail store. According to Telsey, the lower price target was based on the company's continued tariff pressure amid its exposure to the ongoing global trade war. In the first quarter of the year, Bath & Body Works, Inc. (NYSE:BBWI) grew its net income by 21 percent to $105 million from $87 million in the same period last year. Net sales inched up by 3 percent to $1.4 billion from $1.38 billion year-on-year. For the full-year period, Bath & Body Works, Inc. (NYSE:BBWI) maintained its net sales guidance of growing from 1 to 3 percent. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Why Bath & Body Works, Inc. (BBWI) Crashed On Monday
We recently published a list of . In this article, we are going to take a look at where Bath & Body Works, Inc. (NYSE:BBWI) stands against other worst performers on Monday. Bath & Body Works dropped its share prices by 4.94 percent on Monday to end at $26.73 apiece as investor sentiment was dampened by an investment firm's lower price target for the company. On Friday, Telsey Advisory Group reduced its price target for Bath & Body Works, Inc. (NYSE:BBWI) to $38 from $43 previously, but maintained it 'buy' recommendation on its stock. A female customer browsing a variety of body care products in a retail store. According to Telsey, the lower price target was based on the company's continued tariff pressure amid its exposure to the ongoing global trade war. In the first quarter of the year, Bath & Body Works, Inc. (NYSE:BBWI) grew its net income by 21 percent to $105 million from $87 million in the same period last year. Net sales inched up by 3 percent to $1.4 billion from $1.38 billion year-on-year. For the full-year period, Bath & Body Works, Inc. (NYSE:BBWI) maintained its net sales guidance of growing from 1 to 3 percent. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
6 days ago
- Business
- Globe and Mail
Best Buy cuts annual profit forecasts on U.S. tariff uncertainty
Best Buy Co. Inc. BBY-N slashed its full-year comparable sales and profit forecasts on Thursday amid concerns that U.S. tariffs would weigh on consumer demand for big-ticket items such as appliances, home theatres and gaming consoles. Shares of the company were down 2 per cent in premarket trading after it also posted a bigger drop in first-quarter sales than analysts had expected. American households are in limbo as they battle higher borrowing costs, with tariffs now fuelling concerns of price surges on everything from toys to groceries and sneakers. Best Buy chief financial officer Matt Bilunas said the forecast accounted for the impact from levies, assuming they stay at the current levels for the rest of the year, and 'no material change in consumer behaviour from the trends we have seen in recent quarters.' The company is heavily reliant on imports from China, its biggest manufacturing hub, for products such as gaming consoles, audio equipment, cameras and drones, according to Telsey Advisory Group analyst Joe Feldman. Its executives have said earlier that about 60 per cent of the company's overall cost of goods sold came from China, with the next largest country being Mexico at about 20 per cent and almost no domestic sourcing. Retail giant Walmart Inc. WMT-N signalled soft demand in big-ticket discretionary merchandise in its most recent quarterly earnings, while the economic uncertainty has forced several other retailers to shelve their annual targets altogether. The top U.S. electronics retailer expects fiscal 2026 comparable sales in the down 1 per cent-to-up 1-per-cent range, compared with its prior expectation of flat to up 2 per cent. It now forecasts adjusted earnings per share between $6.15 and $6.30, below its prior guidance of $6.20 to $6.60 per share. Same-store sales declined 0.7 per cent for the quarter ended May 3, compared with an expectation of a 0.6-per-cent drop, according to data compiled by LSEG.
Yahoo
6 days ago
- Business
- Yahoo
Electronics retailer Best Buy cuts annual sales forecast on tariff pain
(Reuters) -Best Buy slashed its annual comparable sales forecast on Thursday, on signs that consumer demand for big-ticket items such as appliances, home theater and gaming consoles will be pressured by U.S. tariffs. Shares of the company were down 3% in premarket trading as it also posted a bigger drop in first-quarter sales than analysts expected. American households are in a limbo as they battle higher borrowing costs, with tariffs now fueling concerns of price surges on everything from toys to groceries and sneakers. Best Buy is heavily reliant on imports from China, its biggest manufacturing hub, for products such as gaming consoles, audio equipment, cameras and drones, according to Telsey Advisory Group analyst Joe Feldman. The top U.S. electronics retailer expects fiscal 2026 comparable sales in the range of down 1%-to-up 1%, compared to its prior expectation of flat-to-up 2%. It logged same-store declines of 0.7% for the quarter ended May 3, compared to analysts' average expectation of a 0.6% drop, according to data compiled by LSEG. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
28-05-2025
- Business
- Bloomberg
Dana Tesley: Consumers Are Still Spending
Bloomberg Markets: The Close Dana Telsey, Telsey Advisory Group, Founder & CEO speaks with Romaine Bostick about retail earnings reporting this week and US consumer confidence. (Source: Bloomberg)
