07:48 AM EST, 11/20/2025 (MT Newswires) -- (Updates with Bath & Body Works ( BBWI ) strategy update in the ninth and tenth paragraphs.)

Bath & Body Works ( BBWI ) reported fiscal Q3 adjusted earnings Thursday of $0.35 per diluted share, compared with $0.49 a year earlier.

Analysts polled by FactSet expected $0.39.

Net sales for the quarter ended Nov.1 were $1.59 billion, compared with $1.61 billion a year earlier.

Analysts surveyed by FactSet expected $1.63 billion.

The company expects fiscal Q4 earnings of $1.70 per diluted share, which includes expected tariff impacts. Analysts polled by FactSet expect $2.17.

Bath & Body Works ( BBWI ) said it now expects fiscal full-year 2025 net sales to decline low single digits, compared with the prior outlook of 1.5% to 2.7% growth. Analysts surveyed by FactSet expect $7.45 billion.

The company expects its full fiscal 2025 adjusted earnings to be "at least" $2.87 per diluted share. Analysts polled by FactSet expect $3.41. The company noted its full-year guidance includes the impact of all tariff rates as well as the expected impact of $400 million of cash deployed towards share repurchases.

Bath & Body Works ( BBWI ) shares were down by more than 13% in recent Thursday premarket activity.

The company also announced a new strategy called the Consumer First Formula which includes creating new products, reinvigorating the brand, improving online and retail experiences, and delivering products to consumers more quickly.

The company said it plans to come up with $250 million in cost savings over next two years.