Bath & Body Works reports second quarter 2024 results meeting guidance, with increased share repurchases

From GlobeNewswire: 2024-08-28 06:55:00

Bath & Body Works, Inc. reported net sales of $1.5 billion, meeting guidance. Earnings per diluted share were $0.68, exceeding expectations. Fiscal year 2024 guidance was updated, with expected share repurchases increased to $400 million. The company is confident in its strategy and ability to deliver sustainable growth while navigating the retail environment.

Second quarter 2024 results saw a decrease in net sales compared to the previous year. Operating income and net income were lower, but earnings per diluted share improved. Adjusted earnings per diluted share exceeded last year’s results. Full-year 2024 guidance includes an increase in expected share repurchases and adjusted earnings per diluted share.

For fiscal year 2024, net sales are expected to decline, with earnings per diluted share lower compared to 2023. Share repurchases are anticipated to increase. Third quarter 2024 net sales are projected to be flat to slightly higher, with earnings per diluted share lower than last year. A 52-week fiscal calendar shift will impact results.

Bath & Body Works, Inc. will conduct its second quarter earnings call on August 28. The company’s predominantly U.S.-based supply chain allows for quality products at affordable prices. With over 1,870 locations in the U.S. and Canada, the company aims to serve customers through innovative products and welcoming in-store experiences. The company cautions that forward-looking statements involve risks and uncertainties.



Read more at GlobeNewswire:: Bath & Body Works Reports Second Quarter 2024 Results