Bath & Body Works Inc. (NYSE: BBWI), a provider of personal care and home fragrance products, announced financial results for the fourth quarter of 2023.
- The company reported net sales of $2.91 billion for Q4, an increase of 0.8% from $2.89 billion posted in the prior-year period
- Earnings from continuing operations per share was $2.55, vs. $1.86 per share in the same period of the prior year
- Fourth-quarter operating income was $696 million, compared to $653 million last year; net income from continuing operations rose to $579 million from $428 million in Q4 2022
- Adjusted net income from continuing operations was $469 million or $2.06 per share during the three months
- For fiscal 2024, the company forecasts net sales change to range between a decline of 3.0% to flat, compared to last year
- Full-year 2024 earnings per share is expected to be between $3.00 and $3.35
- The company expects first-quarter 2024 net sales to decline 4.5-2.0%; Q1 earnings per share are expected to be between $0.28 and $0.33
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