11:58 AM EDT, 06/04/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

Bath & Body Works ( BBWI ) shares plunged about 14% in recent Tuesday trading after the company earlier reported lower net sales in fiscal Q1.

The company reported fiscal Q1 adjusted earnings of $0.38 per diluted share, up from $0.33 a year earlier.

Analysts polled by Capital IQ expected $0.33.

Net sales for the quarter ended May 4 was $1.38 billion, down from $1.40 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.37 billion.

The company said it expects fiscal Q2 earnings of $0.31 to $0.36 per diluted share. Analysts surveyed by Capital IQ expect $0.38. The company said it expects full-year 2024 diluted earnings of $3.05 to $3.35 per diluted share. Analysts surveyed by Capital IQ expect $3.25.

Price: 44.65, Change: -7.17, Percent Change: -13.83