Bath & Body Works, Inc. Provides Earnings Guidance for the First Quarter and Fiscal Year 2024
February 29, 2024 at 07:35 am EST
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Bath & Body Works, Inc. provided earnings guidance for the first quarter and fiscal year 2024. The company expects first quarter 2024 net sales to decline 4.5% to 2.0% compared to $1.396 billion in 2023. First quarter earnings per diluted share is expected to be between $0.28 and $0.33, compared to $0.35 and adjusted earnings per diluted share of $0.33 in the first quarter of 2023.
For fiscal 2024, the company is forecasting net sales to range between a decline of 3.0% to flat relative to $7.429 billion of net sales in fiscal 2023. The 53rd week in fiscal 2023 represents a headwind of approximately 100 basis points to net sales growth in fiscal 2024. Full-year 2024 earnings per diluted share is expected to be between $3.00 and $3.35, compared to $3.84 and adjusted earnings per diluted share of $3.27 in fiscal 2023.
Bath & Body Works, Inc. is an omnichannel retailer focused on personal care and home fragrance. The Company sells merchandise through its retail stores in the United States (U.S.) and Canada, and through its websites and other channels, under the Bath & Body Works, White Barn and other brand names. Its international business is conducted through franchise, license and wholesale partners. It offers a range of care and home fragrance, including collections of fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Its products are differentiated through a combination of fragrance, packaging and quality at accessible prices. It also sells products under its sub brands, including White Barn. Its merchandise is sold through about 1,850 Company-operated stores and e-commerce sites in U.S. and Canada, and in 485 stores and 28 e-commerce sites in more than 40 other countries operating under franchise, license and wholesale arrangements.
BATH & BODY WORKS, INC. 
