Pre-market trading is back in the red this morning. We have two economic prints out this morning — Job Openings and Labor Turnover Survey (JOLTS) and Factory Orders, both for April and due at 10am ET today — and key earnings reports, most of which are coming after today’s closing bell. Following a mixed market Monday, we’re looking at -114 points on the Dow, -0.29%, the Nasdaq -0.28%, the S&P 500 -0.35% and the small-cap Russell 2000 again the outlier somewhat: -0.78% at this hour.We had thought we may have ...

Bath & Body Works, Inc. (NYSE:BBWI) Q1 2024 Earnings Conference Call June 4, 2024 9:00 AM ET Company Participants Mike McGuire - Interim Head of Investor Relations Gina Boswell - Chief Executive Officer Julie Rosen - President, Retail Eva Boratto - Chief Financial Officer Conference Call Participants Simeon Siegel - BMO Capital Markets Alex Straton - Morgan Stanley Amanda Douglas - JPMorgan Lorraine Hutchinson - Bank of America Kate McShane - Goldman Sachs Ike Boruchow - Wells Fargo Olivia Tong - Raymond Ja ...

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Bath & Body Works Inc (NYSE:BBWI) posted better-than-expected first-quarter earnings results before the open this morning. However, the retailer's disappointing current-quarter and full-year guidance are sending the shares tumbling. At last glance, BBWI was down 11.4% to trade at $45.88, headed for its worst day since January 2021. Falling from last session's two-year high of $52.98, BBWI is now trading at its lowest levels in a month. The 120-day moving average, which the stock hasn't breached on a closing ...

Bath & Body Works (BBWI) reported $1.38 billion in revenue for the quarter ended April 2024, representing a year-over-year decline of 0.9%. EPS of $0.38 for the same period compares to $0.33 a year ago.The reported revenue represents a surprise of +1.25% over the Zacks Consensus Estimate of $1.37 billion. With the consensus EPS estimate being $0.33, the EPS surprise was +15.15%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

Key TakeawaysBath & Body Works shares tumbled ahead of markets opening Tuesday despite a first-quarter earnings report that came in above expectations.Sales fell from last year, while profits rose slightly and came in above analyst estimates.The company also narrowed its full-year outlook, and issued second-quarter guidance. Shares of retailer Bath & Body Works (BBWI) slid in premarket trading Tuesday despite a first-quarter earnings report that surpassed analyst expectations and the company's own guidance. ...

Q1 2024 Results & 2024 Guidance June 4, 2024 Forward-Looking Statements Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Wecautionthatanyforward-lookingstatements(assuchtermisdefinedinthePrivateSecuritiesLitigationReformActof1995)containedinthispresentationormadebyourcompanyorourmanagementinvolverisksanduncertaintiesandaresubjecttochangebasedon variousfactors,manyofwhicharebeyondourcontrol.Accordingly,ourfutureperformanceandfinancialresultsmaydiffermateriallyfromthoseexpresse ...

Financial Performance - Net sales for Q1 2024 were $1.384 billion, a decrease of 0.9% compared to $1.396 billion in Q1 2023[3]. - Diluted earnings per share for Q1 2024 were $0.38, up 9% on a GAAP basis and 15% on an adjusted basis compared to $0.35 in Q1 2023[3][4]. - Operating income for Q1 2024 was $187 million, compared to $181 million in the same period last year[3]. - The company reported a net income of $87 million for Q1 2024, compared to $81 million in Q1 2023[3][4]. - Net income for Q1 2024 was $87 million, up from $81 million in Q1 2023, representing a 7.4% increase[19]. - Adjusted net income for Q1 2024 was $87 million, compared to $76 million in Q1 2023, reflecting a 14.5% increase[22]. - Adjusted earnings per diluted share for Q1 2024 were $0.38, up from $0.33 in Q1 2023[23]. Guidance and Forecast - The company has narrowed its full-year 2024 guidance, forecasting net sales to decline between 2.5% to flat relative to $7.429 billion in fiscal 2023[5]. - Full-year 2024 earnings per diluted share are expected to be between $3.05 and $3.35, compared to $3.84 in fiscal 2023[5]. - Second quarter 2024 net sales are expected to decline between 2% to flat compared to $1.559 billion in Q2 2023[6]. - Second quarter earnings per diluted share are expected to be between $0.31 and $0.36, compared to $0.43 in Q2 2023[6][7]. Sales Performance - Total sales for Bath & Body Works in Q1 2024 were $1,384 million, a slight decrease of 0.9% compared to $1,396 million in Q1 2023[26]. - U.S. and Canada store sales increased by 3.0% to $1,065 million, while direct sales decreased by 6.8% to $261 million[26]. - International sales fell by 29.3% to $58 million from $82 million in the previous year[26]. Store Operations - The company operated a total of 1,850 stores as of May 4, 2024, with 16 new stores opened and 11 closed since February 3, 2024[28]. Cash Flow and Financing - Net cash provided by operating activities was $76 million, significantly higher than $44 million in Q1 2023[19]. - Net cash used for financing activities totaled $259 million, compared to $135 million in the previous year[20]. - Cash and cash equivalents at the end of the period were $855 million, down from $1,046 million at the end of Q1 2023[20]. Other Factors - The company experienced a headwind of approximately 100 basis points to net sales growth in fiscal 2024 due to the 53rd week in fiscal 2023[5].

Core Insights - Bath & Body Works reported first quarter 2024 net sales of $1.384 billion, slightly down 0.9% from $1.396 billion in the same period last year, but exceeded guidance [1][3] - Diluted earnings per share (EPS) for the first quarter were $0.38, up 9% on a GAAP basis and 15% on an adjusted basis compared to the prior year [1][4] - The company narrowed its full-year guidance, raising the midpoint for both net sales and earnings per share, indicating confidence in long-term profitable growth [2][5] Financial Performance - First quarter 2024 net sales were $1,384 million, a decrease of 0.9% year-over-year, with a 200 basis point benefit from a shifted fiscal calendar and a 170 basis point negative impact from weaker international markets [3][22] - Operating income for the first quarter was $187 million, compared to $181 million in the previous year, while net income increased to $87 million from $81 million [3][12] - On an adjusted basis, EPS increased to $0.38 from $0.33 last year, and net income rose to $87 million from $76 million [4][17] Guidance and Expectations - For fiscal 2024, the company forecasts net sales to decline between 2.5% to flat compared to $7.429 billion in fiscal 2023, with full-year EPS expected to range between $3.05 and $3.35 [5][6] - The second quarter 2024 guidance anticipates net sales to decline between 2% to flat compared to $1.559 billion in the second quarter of 2023, with EPS expected between $0.31 and $0.36 [6][5] Store Performance - As of May 4, 2024, Bath & Body Works operated 1,855 stores, with 1,744 in the U.S. and Canada and 486 international locations [23][24] - The company experienced a 3% increase in U.S. and Canada store sales, while direct sales declined by 6.8% and international sales dropped by 29.3% [22][22] Strategic Initiatives - The CEO highlighted the success of new product introductions and brand engagement efforts, which contributed to customer retention and loyalty [2] - The company is focusing on share repurchases, with an anticipated impact of approximately $300 million for the full year and $75 million for the second quarter [5][6]

MUNCY, PENNSYLVANIA, UNITED STATES - 2022/11/21: A Bath and Body Works store stands at the Lycoming ... [+] Crossing Shopping Center in Muncy. The Christmas holiday shopping season in the United States traditionally begins after Thanksgiving. (Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesBath & Body Works stock (NYSE: BBWI), the largest specialty home fragrance & body care product retailer in the U.S., formerly known as L Brands, is scheduled to repor ...