Bath & Body Works(BBWI)2024-08-28 11:33Financial Performance - Net sales for Q2 2024 were 1.559 billion in Q2 2023[2] - Earnings per diluted share for Q2 2024 were 0.43 in the same period last year[2] - Adjusted earnings per diluted share for Q2 2024 were 0.40 in Q2 2023[2] - The company reported a net income of 99 million in Q2 2023[2] - Operating income for Q2 2024 was 188 million in the prior year[2] - Net income for year-to-date 2024 increased to 180 million in 2023, representing a 32.8% increase[15] - Total sales for the second quarter of 2024 were 1,559 million in the second quarter of 2023[25] - The adjusted net income per diluted share for year-to-date 2024 was 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 3.37 and 3.84 in 2023[3] - Q3 2024 net sales are expected to range from flat to an increase of 2.5% compared to 0.41 and 0.52 in Q3 2023[4] - The forecasted adjusted net income per diluted share for full-year 2024 is projected to be between 3.26[21] Share Repurchase and Capital Expenditures - The company plans to increase share repurchases to 300 million[4] - The company repurchased 48 million in the same period of 2023[16] - Capital expenditures for year-to-date 2024 were 178 million in 2023[16] Sales and Store Expansion - Direct sales in the U.S. and Canada decreased by 9.7% to 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 77 million in 2023[15]