Bath & Body WorksShares fell Wednesday afternoon after the retailer reduced its profit outlook. The reason for that was due in part to inflationary pressures expected to increase.

Following an 8.6% decrease during the trading session, and a wider market selloff, the stock plunged more than 5 percent after hours.

The company said in prepared remarks that it has been facing higher costs of raw materials, transportation and wages — like many retailers. Bath & Body Works now expects to take a hit of between $225 million and $250 million from inflation this fiscal year, or about $75 million more than originally planned.

These comments are directed at big-box retailers TargetAnd WalmartBoth companies reported that they suffered from these expenses in the first quarter. thereby denting their guidance for the coming months.

Bath & Body Works, which sells lotions, candles and other bath soaps, is forecasting its fiscal 2022 earnings from continuing operations per diluted share to be between $3.80 and $4.15, compared with a prior range of $4.30 to $4.70.

Expect second-quarter earnings per share to range between 60 cents or 65 cents, as compared to 77 cents one year ago.

For the three-month period ended April 30, Bath & Body Works reported net income of $154.9 million, or 64 cents per share, compared with income of $276.6 million, or 97 cents per share, a year earlier.

According to Refinitiv, analysts had predicted that this would be 53 cents per share.

The sales fell to $1.45 Billion from $1.47 Billion a year ago. Revenues were higher than expected at $1.43billion.

Bath & Body Works shares are down about 39% this year.

The full earnings press release is available here here.