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Jul 29, 2023
Bath & Body Works Q2 2023 Earnings Report
Bath & Body Works' Q2 2023 earnings exceeded EPS guidance and increased the EPS outlook for the full year.
Key Takeaways
Bath & Body Works reported Q2 2023 net sales of $1.559 billion, a decrease of 3.6% compared to the previous year. EPS was $0.43, and operating income was $188 million. The company has updated its full-year forecast to reflect better-than-expected bottom line results.
Net sales were $1.559 billion, a decrease of 3.6% compared to Q2 2022.
Earnings per diluted share were $0.43, compared to $0.52 for the same period last year.
Operating income was $188 million, compared to $242 million last year.
The company expects full-year 2023 earnings per diluted share to be between $2.85 and $3.15.
Bath & Body Works
Bath & Body Works
Bath & Body Works Revenue by Segment
Bath & Body Works Revenue by Geographic Location
Revenue by Segment
Stores – U.S. and Canada Revenue
CapyFin.comDirect – U.S. and Canada Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
U.S. and Canada Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The company has updated its full‐year forecast to reflect better-than-expected bottom line results in the second quarter, the impact of debt and share repurchases in the second quarter and narrowed sales expectations for the fiscal year.
Positive Outlook
- The company expects full-year 2023 earnings per diluted share to be between $2.85 and $3.15.
- Fiscal 2023 will include a 53rd week, with the fourth quarter of fiscal 2023 consisting of 14 weeks.
- The company’s full-year outlook includes the impact of the 53rd week, estimated at 7 cents per diluted share.
- The company expects third quarter earnings per diluted share to be between $0.30 and $0.40.
- The company’s third quarter and full-year outlook exclude the impact of any future debt or share repurchase activity.
Challenges Ahead
- For fiscal 2023, the company expects net sales to decline 1.5% to 3.5% compared to $7.560 billion in 2022.
- The company now expects full-year 2023 earnings per diluted share to be between $2.85 and $3.15, compared to $3.40 in 2022.
- The company expects full-year 2023 adjusted earnings per diluted share to be between $2.80 and $3.10.
- The company expects third quarter net sales to decline 2.5% to 4.0% compared to $1.604 billion in the third quarter of 2022.
- Third quarter earnings per diluted share are expected to be between $0.30 and $0.40, compared to $0.40 earnings per diluted share in the third quarter of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income