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Bath & Body Works Inc.
stock plunged Thursday after the company reported “disappointing” third-quarter earnings and slashed its full-year outlook, citing “macro consumer pressures.”
Shares sank nearly 25% on Thursday and hit a new 52-week low. The stock has plunged more than 50% this year.
CEO Daniel Heaf announced a turnaround plan for the company, with expectations of $250 million in cost savings by 2027, aimed at attracting younger consumers and recentering the company’s focus to its core products.
