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Bath & Body Works, Inc. (NYSE: BBWI) is a premier retailer specializing in home fragrances and personal care products. Established as an independent company following the 2021 separation from Victoria’s Secret, Bath & Body Works operates under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company boasts over 1,800 retail stores primarily in North America, complemented by a burgeoning international presence and a robust e-commerce platform.
Bath & Body Works has carved a niche in delivering quality, on-trend luxuries at affordable prices. Its product portfolio includes fine fragrance mists, body lotions, body creams, 3-wick candles, home fragrance diffusers, and liquid hand soaps. Recently, the company has expanded its offerings with innovative seasonal collections and exclusive partnerships, such as its recent collaboration with top athletes to promote a new line of men’s grooming products.
In fiscal 2023, Bath & Body Works reported net sales of $7.429 billion, reflecting a 1.7% decrease from the previous year. Despite this, the company demonstrated resilience with adjusted earnings per diluted share of $3.27. The company’s strategic initiatives, including cost optimization and digital channel expansion, have bolstered its financial performance and positioned it for sustained growth.
Recent achievements include exceeding third-quarter and fourth-quarter earnings expectations, launching new fall fragrances, and initiating a $500 million share repurchase program. The company is also actively hiring seasonal associates to meet the increased demand during the holiday season. Bath & Body Works remains committed to enhancing customer experience through an omnichannel approach and ongoing innovation in product development.
Bath & Body Works, Inc. (NYSE: BBWI) declared a quarterly dividend of $0.20 per share, payable on Sept. 2, 2022. Shareholders of record will be noted at the close of business on Aug. 19, 2022. The company, a leader in personal care and home fragrance, operates over 1,770 stores in the U.S. and Canada, alongside more than 360 international locations. It prides itself on delivering quality products through an efficient U.S.-based supply chain, ensuring customers have access to affordable luxuries.
Bath & Body Works, Inc. (NYSE: BBWI) updated its Q2 and full-year 2022 guidance, expecting a sales decline of 6-7% against previous predictions of low single-digit growth. Q2 earnings per diluted share are now estimated at $0.40 to $0.42, significantly down from $0.60 to $0.65. Full-year sales are projected to decrease in the mid-to-high single digits, contrasting with earlier forecasts of low single-digit growth. Operating income is expected to be in the mid-teens percentage of sales. The company will report earnings on August 17, 2022.
Bath & Body Works (NYSE: BBWI) reported Q1 2022 net sales of $1.450 billion, a slight decline of 1% year-over-year. Earnings per diluted share rose to $0.64, up from $0.32 in the same quarter last year, driven by improved customer engagement and a robust domestic supply chain. Operating income decreased to $280 million, reflecting a 19.3% margin on sales. For Q2 2022, the company projects earnings per share between $0.60 and $0.65, lower than last year's $0.77. Full-year guidance has also been revised down to between $3.80 and $4.15, citing inflationary pressures and increased investments.
Bath & Body Works (NYSE: BBWI) declared a quarterly dividend of $0.20 per share, payable on June 17, 2022. Shareholders of record will be eligible if they hold shares by June 3, 2022. This represents a continued commitment to returning value to shareholders.
COLUMBUS, Ohio, May 5, 2022 - Bath & Body Works will release its first quarter 2022 earnings after market close on May 18. A conference call with executives will follow on May 19 at 9:00 a.m. ET. Investors can join the call via the company’s website or by phone. The call details include domestic and international dial-in numbers for participation. The company is known for its exclusive fragrances and has over 1,750 stores in the U.S. and Canada, along with more than 300 international locations.
Bath & Body Works announced the addition of Alessandro Bogliolo and Juan Rajlin to its Board of Directors, enhancing its strategic leadership.
Bogliolo brings over 30 years of retail experience, previously serving as CEO at Tiffany & Co., while Rajlin is the treasurer of Alphabet Inc., overseeing substantial investments and corporate finance strategies. Both leaders will join the board in May 2022, alongside the departure of Andrew Meslow and Robert Schottenstein. The board will then consist of nine directors, emphasizing diversity with over half from diverse communities. Sarah Nash expressed optimism about leveraging their global experience to drive growth.
Andrew Meslow will resign as CEO of Bath & Body Works on May 12, 2022 for health reasons. Sarah E. Nash has been appointed as Executive Chair and will serve as Interim CEO post-Meslow's departure. The Board of Directors intends to engage a search firm for a permanent CEO. Meslow expressed pride in the company's achievements, including the successful spin-off of Victoria's Secret. Nash acknowledged Meslow's leadership and highlighted the company's record performance in fiscal 2021.
Bath & Body Works (NYSE: BBWI) reported strong financial results for Q4 and full-year 2021. Q4 net sales reached $3.027 billion, an 11% increase year-over-year, with earnings per share of $2.27, up from $1.96 in Q4 2020. For the full year, net sales rose 22% to $7.882 billion, with EPS from continuing operations at $3.94, compared to $3.07 in 2020. The Board authorized a new $1.5 billion share repurchase program and increased the dividend by 33%. For 2022, EPS guidance ranges between $4.30 and $4.70.
Bath & Body Works invites investors to its fourth quarter 2021 earnings conference call scheduled for Feb. 24, 2022, at 9:00 a.m. ET. This call will follow the release of the company's earnings report on Feb. 23. Interested parties can listen via the company’s website or call in using provided numbers. The release emphasizes the company’s commitment to transparency and investor engagement.
Bath & Body Works (NYSE: BBWI) announced a new $1.5 billion share repurchase program and a 33% increase in the annual dividend to $0.80 per share. For the fourth quarter ending January 29, 2022, the company reported net sales of $3.027 billion, up 11% year-over-year. Estimated earnings per share (EPS) from continuing operations are projected at approximately $2.25, exceeding prior guidance. The company maintains a strong balance sheet with approximately $2 billion in cash, positioning itself for sustainable growth.
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