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 ...

The upcoming report from Bath & Body Works (BBWI) is expected to reveal quarterly earnings of $0.33 per share, indicating no change from the year-ago quarter compared to the year-ago period. Analysts forecast revenues of $1.37 billion, representing a decrease of 2.1% year over year.Over the last 30 days, there has been an upward revision of 3.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forec ...

COLUMBUS, Ohio, May 28, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE:BBWI) announced today that Eva Boratto, chief financial officer, will participate in a fireside chat at the Evercore ISI Consumer & Retail Conference on Tuesday, June 11, 2024, at 11:00 a.m. EDT. A live audio webcast will be available at the time of the event and may be accessed through the Events and Presentations section of the company's website at https://investors.bbwinc.com/financial-reporting/events-presentations. The webca ...

COLUMBUS, Ohio, May 21, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) announced today that it plans to report its first quarter 2024 financial results before market open on Tuesday, June 4, 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. Supplemental mater ...

COLUMBUS, Ohio, May 21, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE:BBWI) announced today that it plans to report its first quarter 2024 financial results before market open on Tuesday, June 4, 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. Supplemental materi ...

COLUMBUS, Ohio, May 17, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) announced today the declaration of its regular quarterly dividend of $0.20 per share payable on June 21, 2024, to shareholders of record at the close of business on June 7, 2024. ABOUT BATH & BODY WORKS: Home of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home ...

Key PointsThree value stocks could be a fit for Berkshire Hathaway if they had a larger market cap: Ulta Beauty, Bath & Body Works, and Tapestry.Despite a weakening U.S. consumer sentiment and stubbornly high inflation, consumers typically find space in their budgets for these beauty and home goods products.With high profitability rates and low valuation multiples, these stocks could provide smaller retail investors with Buffett-like moments.Investors follow what stocks Warren Buffett buy. However, they lac ...

At the beginning of 2024, retail stocks has a bright outlook. Consumer spending was holding up, the rate of inflation was easing, and there were expectations of an interest-rate cut.  That three-legged stool looks more unstable. The latest reading on inflation showed an uptick that is likely to follow oil prices higher, and Federal Reserve chair Jerome Powell is making it clear that investors should not count on rate cuts anytime soon. Still, it’s not altogether crazy to invest in retail stocks. As the late ...