Bath & Body Works Inc. (NYSE: BBWI), a provider of personal care and home fragrance products, announced financial results for the first quarter of 2024.
- The company reported net sales of $1.38 billion for Q1, a decrease of 1% $1.40 billion reported in the year-ago quarter
- First-quarter earnings per share increased to $0.38 from $0.35 in the same period of fiscal 2023
- Net income came in at $87 million in the April quarter, compared to $81 million in the corresponding period last year
- On an adjusted basis, Q1 earnings per share rose 15% annually to $0.38 from $0.33 a year earlier
- Adjusted net income rose to $87 million from $76 million in Q1 2023
- First-quarter operating income was $187 million, vs. $181 million in the prior-year period
- For fiscal 2024, the company forecasts net sales to range between a decline of 2.5% to flat, vs. $7.43 billion in 2023
- Full-year earnings per share is expected to be between $3.05 and $3.35
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