Bath & Body Works Q3 FY24 #EarningsReport Summary | $BBWI (+1.18%)
In Q3 FY24, Bath & Body Works faced a volatile retail environment but exceeded sales and EPS guidance. Strong performance was driven by innovation in core product lines and strategic agility in its predominantly U.S.-based supply chain. Despite challenges, the company raised its FY24 guidance.
📊 Income Statement Highlights (vs. Q3 FY23):
▫️Net Sales: $1.61B vs. $1.56B (+3.00%)
▫️Net Income: $106M vs. $119M (-10.92%)
▫️Adjusted Net Income: $106M vs. $110M (-3.64%)
▫️EPS: $0.49 vs. $0.52 (-5.77%)
▫️Adjusted EPS: $0.49 vs. $0.48 (+2.08%)
▫️Gross Profit: $700M vs. $682M (+2.64%)
▫️Operating Income: $218M vs. $221M (-1.36%)
▫️General and Administrative Expenses: $482M vs. $461M (+4.55%)
Revenue Breakdown:
▫️Stores (U.S. & Canada): $1.22B (+4.40%)
▫️Direct Sales (U.S. & Canada): $321M (+1.50%)
▫️International Sales: $69M (-11.11%)
💼 Balance Sheet Highlights (vs. October 28, 2023):
▫️Total Assets: $4.98B (-4.95%)
▫️Cash and Cash Equivalents: $191M (-53.64%)
▫️Inventories: $1.18B (-2.24%)
▫️Total Current Liabilities: $1.58B (+11.77%)
▫️Long-term Debt: $3.88B (-13.68%)
▫️Equity (Deficit): $(1.75B) vs. $(2.12B) (+17.64%)
🔮 Future Outlook:
Bath & Body Works raised its FY24 guidance to reflect strong Q3 results. Full-year net sales are expected to decline by 1.7%-2.5% due to a shorter fiscal calendar. EPS guidance was increased to $3.46-$3.59, supported by investments in marketing, technology, and supply chain efficiencies. The company aims for long-term growth driven by innovation, operational agility, and customer-centric strategies.