Activist investor Barington Capital has acquired an additional stake in Bath & Body Works (BBWI) and is suggesting that the personal care brand consider a sale, Bloomberg reported Thursday, citing an interview with Barington's Chief Executive James Mitarotonda.
The retailer is "undervalued" and has been hindered by "unstable management," and should retain advisers to explore a sale, according to Mitarotonda, the media outlet added.
Representatives of Barington and Bath & Body Works did not immediately respond to MT Newswires' request for comment.
Bath & Body Works shares rose around 2.3% in after-hours trading.
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