Much of Bath & Body Works' Tariff Refunds Offset by Costs
Dow Jones
Yesterday
0904 ET - Bath & Body Works says more than a third of its tariff refunds were offset by existing tariffs and input cost inflation in the second quarter. The fragrances retailer recorded a benefit of $80 million from refunds during the quarter. However, tariff and input costs dinged results by $30 million. Incremental investments in the company's Consumer First Formula strategy also offset the refunds by $35 million, mainly due to marketing costs. Adjusted earnings were 62 cents a share in the quarter, and would have been 31 cents a share without the refunds, Bath & Body Works says. Analysts were projecting 24 cents a share.
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