10 Firms Suffer Amid Optimistic Market Environment

5. Bath & Body Works, Inc. (NYSE:BBWI)

Bath and Body Works saw its share prices tumble by 3.55 percent on Friday to end at $26.64 each as investors repositioned portfolios amid the company’s risks from the ongoing global trade tensions.

Earlier this year, BBWI forecast annual sales largely below expectations as it grapples with uncertainties in consumer spending due to the US-China trade war.

In the latest update, Beijing retaliated with a 125-percent tariff on US goods but signaled that if the US continues to raise tariffs, it would not respond.

“Given the current level of tariffs, U.S. goods exported to China are no longer market-viable,” the Chinese Ministry of Finance said in a statement announcing the new levies.

Meanwhile, BBWI still earned an upgraded rating of Overweight from investment firm Piper Sandler, saying that, along with Inter Parfums, it was well-positioned to benefit from the increasing demand in the fragrance category.