Bath & Body Works (BBWI) shares tumbled 15% in premarket trading on Thursday after CEO Daniel Heaf noted that the company's third-quarter results were below expectations and that the retailer was lowering its outlook for the remainder of the year to reflect current business trends and the continuation of recent macro consumer pressures. 

“While this is disappointing, we are acting swiftly and decisively to position the business for sustainable, long-term growth,” Heaf said. He added that the consumers will begin to see the benefits of these changes in the coming quarters, though it will take time for the impact to be reflected in the company's financial performance.

The company said it was revising its full-year 2025 net sales guidance to a decline in the low single digits, compared with the previous forecast of 1.5% to 2.7% growth. Bath & Body Works now expects annual adjusted earnings per diluted share to be at least $2.87, compared to the prior estimate of $3.35 to $3.60.

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