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Bath & Body Works
🇺🇸 NYSE:BBWI
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•
Nov 02, 2024

Bath & Body Works Q3 2024 Earnings Report

Reported a net sales increase of 3% and earnings per diluted share exceeded guidance.

Key Takeaways

Bath & Body Works reported strong Q3 2024 results, exceeding net sales and earnings per diluted share guidance. Net sales increased by 3.0% to $1.61 billion, and earnings per diluted share were $0.49. The company is raising its full-year guidance to reflect this outperformance.

Net sales reached $1.61 billion, a 3.0% increase compared to the previous year.

Earnings per diluted share were reported at $0.49, compared to $0.52 last year.

Operating income amounted to $218 million, slightly lower than the $221 million reported last year.

The company is raising its full-year guidance to fully reflect this outperformance.

Total Revenue
$1.61B
Previous year: $1.61B
+0.0%
EPS
$0.49
Gross Profit
$700M
Previous year: $700M
+0.0%
Cash and Equivalents
$191M
Previous year: $191M
+0.0%
Total Assets
$4.98B
Previous year: $4.98B
+0.0%

Bath & Body Works

Bath & Body Works

Bath & Body Works Revenue by Segment

Bath & Body Works Revenue by Geographic Location

Forward Guidance

The company expects Q4 2024 net sales to decline between 6.5% and 4.5% compared to Q4 2023, with a 500 basis points headwind due to the shifted fiscal calendar. Fourth quarter earnings per diluted share is expected to be between $1.94 and $2.07.

Positive Outlook

  • Full-year net sales guidance raised to a decline of 2.5% to 1.7% compared to fiscal 2023.
  • Full-year earnings per diluted share now expected to be between $3.46 and $3.59.
  • Full-year adjusted earnings per diluted share now expected to be between $3.15 and $3.28.
  • Full-year guidance includes the anticipated impact of $400 million of cash deployed towards share repurchases.
  • The company is well-positioned to navigate a volatile retail environment and shorter holiday calendar.

Challenges Ahead

  • Fourth quarter net sales are expected to decline between 6.5% and 4.5%.
  • Fourth quarter net sales will incur a headwind of approximately 500 basis points due to the shifted fiscal calendar.
  • Fourth quarter earnings per diluted share is expected to be between $1.94 and $2.07, compared to $2.55 in the fourth quarter 2023.
  • The 53rd week in fiscal 2023 represents a headwind of approximately 100 basis points to net sales change in fiscal 2024.
  • Third quarter operating income was $218 million compared to $221 million last year, and net income was $106 million compared to $119 million last year.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Bath & Body Works