While Bath & Body Works did incredibly well during the pandemic, its spending became excessive, forcing activist investor Third Point LLC — who owns 6% of the company — to push for change. “We believe the demand backdrop in 2024 will improve as inflationary and rising interest rate pressures on the consumer potentially subside,” said Barron’s report of Barclays analyst Adrienne Yih’s comments to clients. “Notwithstanding our more cautious near-term consumer outlook, we believe Hibbett remains well positioned for the long-term to continue to grow and increase market share,” stated CEO Mike Longo in the Q1 2024 press release.