Bath & Body Works reports 3% increase in net sales, exceeding guidance, with raised fiscal year outlook.

From GlobeNewswire: 2024-11-25 06:55:00

Bath & Body Works reported net sales of $1.6 billion, a 3% increase, exceeding guidance. Earnings per diluted share were $0.49, compared to $0.52 last year. The company raised its fiscal year 2024 guidance, expecting a decline of 2.5% to 1.7% in net sales and earnings per diluted share of $3.46 to $3.59.

CEO Gina Boswell credited the strong results to innovation in core products, adjacencies, and collaborations. The company’s agile business model and U.S.-based supply chain position it well in a volatile retail environment. Despite expecting a decline in fourth-quarter net sales, Boswell is confident in the company’s strong execution and momentum heading into the holidays.

The company’s third quarter 2024 results included net sales of $1,610 million, up 3% from last year. Earnings per diluted share were $0.49, with operating income at $218 million and net income at $106 million. Adjusted earnings per diluted share for third quarter 2023 were $0.48 and adjusted net income was $110 million.

Bath & Body Works plans to conduct its third quarter earnings call on November 25. The company’s predominantly U.S.-based supply chain allows for quality, on-trend products at affordable prices, with over 1,880 U.S. locations, 500 international franchised locations, and an online store. The company’s full-year guidance reflects the impact of $400 million in share repurchases.



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