Q2 2024 Financial Performance - Net sales reached $1.5 billion, a decrease of 2.1% compared to the previous year[8, 34, 35] - Gross margin increased by 110 basis points year-over-year[12] - Adjusted earnings per diluted share (EPS) was $0.37, exceeding expectations[8, 34] - The company's cost optimization initiatives delivered benefits of approximately $40 million in the quarter[35] Channel Performance - Stores in the U.S & Canada accounted for 75% of net sales, totaling $1.1 billion, a decrease of 0.3% compared to Q2 of the previous year[36] - Direct sales in the U.S & Canada represented 19% of net sales, amounting to $297 million, a decrease of 9.7% compared to Q2 of the previous year[36] - International sales contributed 6% of net sales, reaching $89 million, an increase of 2.2% compared to Q2 of the previous year[36] - Loyalty program members accounted for over 80% of year-to-date U.S sales, an increase of 6 percentage points compared to Q2 year-to-date of the previous year[19] Full Year 2024 Guidance - Net sales are projected to decline by 4% to 2% year-over-year[40, 41] - The company now expects gross profit rate to be approximately 44% and SG&A rate to be 27%[43] - Adjusted earnings per diluted share are expected to be in the range of $3.06 to $3.26[40] - Adjusted free cash flow is forecasted to be between $675 million and $775 million[25, 40] - The company increased its share repurchase forecast for FY24 from $300 million to $400 million[25, 40]

Financial Performance - Net sales for Q2 2024 were $1.526 billion, a decrease of 2.1% compared to $1.559 billion in Q2 2023[2] - Earnings per diluted share for Q2 2024 were $0.68, up from $0.43 in the same period last year[2] - Adjusted earnings per diluted share for Q2 2024 were $0.37, compared to $0.40 in Q2 2023[2] - The company reported a net income of $152 million for Q2 2024, compared to $99 million in Q2 2023[2] - Operating income for Q2 2024 was $183 million, slightly down from $188 million in the prior year[2] - Net income for year-to-date 2024 increased to $239 million from $180 million in 2023, representing a 32.8% increase[15] - Total sales for the second quarter of 2024 were $1,526 million, a decrease of 2.1% compared to $1,559 million in the second quarter of 2023[25] - The adjusted net income per diluted share for year-to-date 2024 was $0.76, compared to $0.73 in 2023[19] Guidance and Forecast - The company updated its fiscal year 2024 guidance, expecting net sales to decline between 4% to 2% relative to $7.429 billion in fiscal 2023[3] - Full-year 2024 earnings per diluted share is now expected to be between $3.37 and $3.57, down from $3.84 in 2023[3] - Q3 2024 net sales are expected to range from flat to an increase of 2.5% compared to $1.562 billion in Q3 2023[4] - Q3 2024 earnings per diluted share is projected to be between $0.41 and $0.47, compared to $0.52 in Q3 2023[4] - The forecasted adjusted net income per diluted share for full-year 2024 is projected to be between $3.06 and $3.26[21] Share Repurchase and Capital Expenditures - The company plans to increase share repurchases to $400 million from the previous expectation of $300 million[4] - The company repurchased $248 million of common stock in year-to-date 2024, compared to $48 million in the same period of 2023[16] - Capital expenditures for year-to-date 2024 were $101 million, down from $178 million in 2023[16] Sales and Store Expansion - Direct sales in the U.S. and Canada decreased by 9.7% to $297 million in Q2 2024 from $329 million in Q2 2023[25] - The company opened 40 new stores in the U.S. and Canada, bringing the total to 1,761 stores as of August 3, 2024[27] - International partner-operated stores increased by 25 to a total of 497 stores as of August 3, 2024[28] Cash Flow - The company reported a net cash provided by operating activities of $30 million for year-to-date 2024, down from $77 million in 2023[15]

Net Sales of $1.5 Billion, In Line with GuidanceEarnings Per Diluted Share of $0.68; Adjusted Earnings Per Diluted Share of $0.37, Exceeded GuidanceUpdates Fiscal Year 2024 GuidanceIncreases Full-Year Expected Share Repurchases to $400 million from $300 million COLUMBUS, Ohio, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) today reported second quarter 2024 results. Gina Boswell, CEO of Bath & Body Works, commented, “We delivered net sales in line with our guidance range while adjust ...

HAYWARD, CALIFORNIA - JUNE 12: Products are displayed at a Bath & Body Works store on June 12, 2024 ... [+] in Hayward, California. (Photo by Justin Sullivan/Getty Images)Getty ImagesBath & Body Works (NYSE: BBWI), the largest specialty home fragrance & body care product retailer in the U.S., formerly known as L Brands, is scheduled to report its fiscal second-quarter results on Wednesday, August 28. We expect BBWI stock to likely trade higher with revenues and earnings beating expectations in its second-qu ...

Core Viewpoint - The upcoming earnings report for Bath & Body Works (BBWI) is anticipated to show a decline in quarterly earnings and revenues compared to the previous year, with analysts adjusting their estimates downward over the past month [1][2]. Financial Performance - Expected quarterly earnings per share (EPS) are $0.36, reflecting a 10% decrease year over year [1]. - Forecasted revenues are $1.55 billion, indicating a 0.8% decline compared to the same period last year [1]. - The consensus EPS estimate has been revised down by 0.5% in the last 30 days [1]. Sales Metrics - Analysts project 'Geographic Net Sales - Stores - U.S. and Canada' to be $1.15 billion, a year-over-year increase of 0.9% [2]. - 'Geographic Net Sales - International' is expected to reach $71.77 million, showing a significant decline of 16.6% year over year [2]. - 'Geographic Net Sales - Direct - U.S. and Canada' is estimated at $321.47 million, reflecting a decrease of 2.3% year over year [2]. Store Operations - Total company-operated stores are projected to be 1,865, up from 1,823 in the same quarter last year [3]. - Total company-operated stores in Canada are expected to reach 111, compared to 109 a year ago [3]. - Total company-operated stores in the U.S. are estimated at 1,755, an increase from 1,714 in the previous year [3]. - Total partner-operated stores internationally are projected to be 466, up from 416 in the same quarter last year [3]. Additional Metrics - Total partner-operated stores internationally are expected to reach 497, compared to 444 a year ago [4]. - Total partner-operated stores in international travel retail are forecasted to be 31, an increase from 28 in the same quarter last year [4]. Stock Performance - Over the past month, Bath & Body Works shares have increased by 2.8%, outperforming the Zacks S&P 500 composite, which rose by 0.3% [4]. - BBWI currently holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [4].

COLUMBUS, Ohio, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) announced today that it plans to report its second quarter 2024 financial results before market open on Wednesday, August 28, 2024. In conjunction with this report, the company will host a conference call at 9:00 a.m. EDT during which Gina Boswell, chief executive officer, Eva Boratto, chief financial officer, and Julie Rosen, president, retail, will provide a business update and discuss the company's results. Supplementa ...

Core Viewpoint - The article discusses the potential investment opportunities in stocks like Nike, Capital One Financial, and Bath & Body Works, particularly in light of anticipated interest rate cuts by the Federal Reserve, which could stimulate consumer spending and positively impact these companies' stock prices. Group 1: Nike Inc. (NKE) - Nike's stock recently dropped over 20% following quarterly earnings that were perceived as weak due to concerns in the Chinese market and lower guidance for the year [3][4] - Currently trading at $75.43, which is 60% of its 52-week high of $123.39, analysts at Guggenheim suggest a price target of $97.19, indicating a potential upside of 52.5% [3][4] - Short interest in Nike has decreased by 7.7% in the past month, reflecting a shift in sentiment among investors [4] Group 2: Capital One Financial Co. (COF) - Capital One's stock is currently priced at $136.00, with a price target of $141.20, suggesting a potential increase of 21.3% [5][6] - The stock has seen a 7.1% decline in short interest over the past month, indicating growing bullish sentiment [6] - Vanguard Group, the largest shareholder, increased its stake by 0.7%, raising its total investment to $4.6 billion, signaling confidence in the stock [7] Group 3: Bath & Body Works Inc. (BBWI) - Bath & Body Works is currently trading at $36.99, with a price target of $48.53, which would require a 54.5% increase to reach [9][10] - The company is expected to benefit from potential interest rate cuts, which could boost consumer demand for home-related products [9] - Vanguard Group also increased its position in Bath & Body Works by 4.2%, bringing its net investment to $1.4 billion, reflecting confidence in the stock's future performance [10]

Bath & Body Works NYSE: BBWI is a brand name synonymous with fragrant lotions and flickering candles, experienced a sudden chill in the market as investors reacted to the company's recent second-quarter sales forecast. Despite Bath & Body Works’ earnings exceeding first-quarter estimates, the company’s stock tumbled over 8% in pre-market trading. Bath & Body Works’ financial report revealed a palpable unease about the retail sector player's ability to weather the changing tides of consumer discretionary spe ...

Core Viewpoint - Bath & Body Works (BBWI) reported strong Q1 2024 results, exceeding revenue and EPS expectations, yet shares fell nearly 10%, which appears irrational given the positive performance [4][5]. Company Performance - In Q1 2024, BBWI achieved net sales of $1.4 billion, surpassing analysts' expectations of $1.37 billion, and reported EPS of $0.38 against an expectation of $0.33 [4]. - The company experienced a revenue decrease of only 1% in Q1 2024, compared to a guidance of a decrease between 2% and 4.5% [4]. - Full-year 2024 EPS guidance was narrowed to between $3.05 and $3.35, indicating a slight upward adjustment from previous expectations [4]. Market Position - BBWI holds approximately 5% market share in the Beauty, Cosmetics & Fragrance Stores industry, positioning it as a significant player in the fragrance segment, especially in brick-and-mortar stores [4]. - Major competitors include Ulta Beauty with a 20% market share and Sephora with nearly 7% [4][2]. Customer Engagement - The company has a successful loyalty program with 37 million members, which encourages frequent purchases, similar to Ulta Beauty's 43 million members [3]. Valuation - With the current EPS guidance, BBWI is expected to trade at a forward P/E ratio between 14 and 15, which is considered reasonable within the industry context [5]. - Despite the recent drop in share price, the valuation remains attractive, suggesting a potential buying opportunity [5].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-Q _________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 4, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8344 _________________________________ BATH & BODY WORKS, ...