Bath & Body Works Sees Steeper Sales Drop on Slowing Demand
August 24, 2023
Bath & Body Works issued a warning of a more significant decline in annual sales as Americans hold back on purchasing its higher-priced home fragrances and personal care products due to ongoing inflation. The company’s second-quarter sales fell by 3.6% to $1.56 billion, and it now expects annual net sales to decline between 1.5% and 3.5%. The challenges faced by Bath & Body Works are in line with other retailers like Estee Lauder and Macy’s, which have also cautioned about weak consumer spending for the rest of the year amid rising living costs and borrowing expenses.
Recent News
Ice Cream Listeria Recall: What We Know
Thirteen ice cream brands are affected by the listeria recall.
Bimbo Bakeries FDA Warning: What We Know
Bimbo is one of America’s most popular bakery brands.
Toys ‘R’ Us Unveils AI-Powered Promo with OpenAI’s Sora
Last week at the Cannes Lions International Festival for Creativity, Toys “R” Us showcased a mini promo film made predominantly using OpenAI’s text-to-video tool, Sora.
Netflix Series ‘Stranger Things’ to Take Center Stage at Six Flags’ Fright Fest
Six Flags is ramping up for this year’s Fright Fest with major partnerships in place. The theme park has announced collaborations with Netflix, Warner Bros., Lionsgate, and Legendary for its Halloween event at its venues across the U.S.