Financial Data and Key Metrics Changes - The company reported net sales of $1.4 billion for Q1 2024, a decrease of 0.9% from the prior year, but above the high end of guidance [8][30] - Earnings per diluted share were $0.38, up 15% from the prior year's adjusted EPS, exceeding guidance [8][30] - The gross profit rate increased to 43.8%, up 110 basis points year-over-year, driven by improved merchandise margin [33] Business Line Data and Key Metrics Changes - Body Care sales grew low-single digits, with highlights in fine fragrance mist, men's, travel, and lip categories [21] - Home Fragrance sales declined mid-single digits, with a decrease in candle sales but an increase in unit market share for air fresheners [23] - Soaps & Sanitizers category decreased low-single digits, with soaps increasing due to refills, while sanitizers declined [24] Market Data and Key Metrics Changes - International net sales were $58 million, a decline of 29% from the previous year, primarily due to the war in the Middle East affecting wholesale revenue [32] - Despite the decline, total international system-wide retail sales were roughly flat compared to the prior year, with mid-teens growth outside the affected areas [32] Company Strategy and Development Direction - The company aims for $10 billion in sales and operating margins of 20%, focusing on elevating the brand, engaging customers, and enhancing operational efficiency [13] - A new brand collaboration with Netflix for the "Bridgerton" series and the launch of the Everyday Luxuries collection are part of the strategy to drive growth [10][20] - The company plans to open at least 35 net new stores in international markets this year, indicating a commitment to global expansion [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about a return to sales growth in the second half of the year, supported by strong execution and strategic initiatives [39] - The company is taking a prudent approach to guidance due to a dynamic consumer spending environment [8][37] - Management noted that customer spending is being carefully managed, impacting basket size and average unit retails [11] Other Important Information - The company plans to invest $300 million to $325 million in capital projects during the year, focusing on brick-and-mortar stores and technology [27] - Active loyalty members increased by more than 18% year-over-year to approximately 37 million, driving about 80% of US sales [17] Q&A Session Summary Question: How are you thinking about the benefits from marketing campaigns and new product categories? - Management noted that investments in a full funnel approach are driving brand awareness and customer engagement, with positive early results [41] Question: Can you discuss the impact of the Middle East situation on international sales? - Management indicated that while there is near-term pressure, the long-term international expansion plans remain intact, with expectations for improvement in Q2 [45][46] Question: What are the expectations for AUR in the second half of the year? - Management stated that AUR is expected to be flat, with selective pricing actions taken for certain product launches [60] Question: How is the competition affecting the business? - Management emphasized the importance of innovation and a vertically integrated model to stay ahead of competitors [73] Question: What are the key drivers of net sales outperformance in Q1? - Management highlighted the success of new product categories and strong customer engagement as key drivers [51]

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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 ...

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 ...