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Bath & Body Works Spikes On Q3 Profit, Outlook

Bath & Body Works, Inc. (BBWI) shares are surging more than 20 percent on Thursday morning after the company reported an increase in third-quarter earnings, despite a slight dip in revenues. The specialty retailer also raised its outlook for fiscal 2022.

The company reported quarterly earnings of $91.03 million compared to $87.81 million a year ago. On a per-share basis, earnings climbed to $0.40 from $0.33 last year. Adjusted earnings from continuing operations were $0.40 per share.

Looking ahead to the fourth quarter, Bath and Body expect earnings per share from continuing operations between $1.45 and $1.65.

For fiscal 2022, the company upped its earnings outlook from continuing operations to $3.00- $3.20, from its prior projection of $2.70 -$3.00.

Currently, shares are at $36.24, up 16.40 percent from the previous close of $31.13 on a volume of 6,007,359.

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