The Bath & Body Works segment operating income in the second quarter was $431 million, an increase of 135%, or $247 million compared to 2019, and an increase of 24%, or $82 million compared to last year. Thanks for taking my question. Contact IR Year 2023 Jun 21, 2023 Let Sweetness Ring! But again, we feel very comfortable in those long-term mid to high single-digit revenue growth rate targets that we provided. Investor Resources. And Ill turn it back over to the operator. We are continually working to reduce our carbon footprint and improve our packaging to make long-term positive changes for everyones benefit. The company ended second-quarter fiscal 2021 with cash and cash equivalents of $1,987.8 million, inventories of $1,472.9 million, long-term debt of $5,937.6 million and shareholder deficit of $1,187.8 million.During the second quarter, the company purchased 14.4 million shares $1.03 billion. Gross margin improved 1,130 bps from second-quarter fiscal 2019 levels, driven by growth in the merchandise margin rate as well as buying and occupancy expense leverage.Operating income amounted to $599.1 million, rising from $44 million in the year-ago quarter. Great. Learn how we create a supportive environment focused on our people. Yes. Type a symbol or company name. We provide access to our media gallery and blog articles. Do Not Sell My Personal Information (CA Residents Only). Investor Relations. Ms. Hollander will be responsible for leading the company's investor relations program, including engagement with shareholders, investors and . Innovation remains at the foundation of Bath & Body Works. Thank you. We're dedicated to crafting fragrances and formulas our customers can trust. If you are unable to participate during the live webcast, the call will also be archived on our website here. Thanks for taking my question. Great. 0 (0%) Volume: 0. Compared with year-ago levels, the company saw strong growth in home fragrance, fragrant body care, and gifting. But again, what I would highlight is we were very pleased that even as that business, as expected, softened year-over-year, we were able to more than overcome that, offset that with strong growth out of our other categories, leading to the total growth that we articulated. Quarterly gross margin re expected to rise 100-150 bps from third-quarter fiscal 2019 tally. Learn more about our business practices. Weitere Informationen darber, wie wir Ihre personenbezogenen Daten nutzen, finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. The stocks in this report could perform even better. ET on Tuesday, February 28, 2023, review its 2022 fourth quarter and full year financial results. Both of those factors are embedded in our guidance. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. That said, we have lots of different ideas in the pipeline that we will be looking to test over the next several years. Data Provided by Refinitiv. Bath & Body Works, Inc. price-consensus-eps-surprise-chart | Bath & Body Works, Inc. Quote. So on the top line growth aspect, again, we feel very comfortable with those three to five-year targets that we provided as part of the Investor Meeting and roadshows over the last month or so. Thanks, Andrew. Most of those tests that Im describing will be ramping up a little bit more in the back half of this year, but much more in 2022 and beyond. As weve talked about, those ideas run the gamut from potentially getting into the skin care business, getting into the hair care business, looking at further line extensions within the home business, whether thats into cleaning products or laundry products, etc. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. We would expect that it will normalize somewhere in the mid-teens and thats consistent with what weve seen here through the first two quarters of the year. Company Profile More >> Build-A-Bear is a multi-generational global brand focused on its mission to "add a little more heart to life" appealing to a wide array of consumer groups who enjoy the personal expression in making their own "furry friends" to celebrate and commemorate life moments. That's why we're passionate about our people, our product and our planet. MarketBeat Week in Review - 5/22 - 5/26 . Bath & Body Works Board of Directors Sends Letter to Shareholders Highlighting Transformative Value-Creating Actions and Responding to Third Point's Potential Proxy Contest We will have the Bath & Body Works operating segment that weve reported extensively historically. Zacks->. But wed like to thank you for your continuing interest in Bath & Body Works. Als u uw keuzes wilt aanpassen, klik dan op 'Privacyinstellingen beheren'. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. It also anticipates opening 55 new off-mall store locations in North America. We're dedicated to crafting fragrances and formulas our customers can trust. Gross margin came in at 45.2%, up 1,110 basis points (bps) year on year. Thanks. So very pleased with what weve been able to see so far in terms of the customer behavior that were experiencing here as we move in through 2021. The Plan, Investor's Choice, provides both registered holders and interested first-time investors with an affordable alternative for buying and selling BBWI common stock. We strive to create an inclusive culture for our associates and our customers. And our first question comes from Kimberly Greenberger with Morgan Stanley. Next question, please. Review financial reports, stock performance and governance materials, and connect to our shareholder center. Creating products you love and believe in. Thanks, Roxanne. To access the conference call, interested parties may dial +1 877-407-9208 or +1 201-493-6784 conference ID 13735877 (domestic and international callers). Both at those both items went to Victorias Secret as part of the spin, but since we had the cash in the bank, so to speak, at the quarter end, its sitting on the consolidated balance sheet. Jazz Pharmaceuticals JPM 2023 Presentation 9.1 MB. Good morning. Thank you, Stephanie. Zacks Equity Research for All Rights Reserved, $refs.close.focus());" @closesearch.window="show=false;" x-show="show" x-transition:enter="transition ease-out duration-300" x-transition:enter-start="-translate-y-full" x-transition:enter-end="translate-y-0" x-transition:leave="transition ease-in duration-300" x-transition:leave-start="translate-y-0" x-transition:leave-end="-translate-y-full">, Bath & Body Works Invites You to Listen to the Third Quarter 2021 Earnings Call Webcast, Committee Charters and Governance Materials, Notice of Settlement of Shareholder Derivative Actions, Do Not Sell or Share Personal Information (Certain States), Limited the Use of My Sensitive Personal Information (California), Bath & Body Works Third Quarter 2021 Earnings Conference Call Webcast. Empowering Individual Investors. Dcouvrez comment nous utilisons vos donnes personnelles dans notre Politique de confidentialit et notre Politique relative aux cookies. Learn about our policies and approach to product sourcing, safety, ingredients and more. The other point I would make go forward is weve also disclosed that as we look to separate the two businesses, one of the key areas of focus is in the technology area. Q1 2023 Results. And also, as weve disclosed, well have about $25 million per quarter of corporate overhead expense. Your line is open. A high-level overview of Bath & Body Works, Inc. (BBWI) stock. The top- and bottom-line metrics improved year on year, gaining from strong business momentum. 2023 All categories achieved solid growth and strong sales demand continued to allow us to pull back on promotional activity versus 2019. For second-quarter fiscal 2021, adjusted earnings per share amounted to $1.34, which surpassed the Zacks Consensus Estimate for earnings of 75 cents. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Wanneer u onze sites en apps gebruikt, gebruiken we, gebruikers authenticeren, veiligheidsmaatregelen toepassen en spam en misbruik voorkomen, en, gepersonaliseerde advertenties en content weergeven op basis van interesseprofielen, de effectiviteit meten van gepersonaliseerde advertenties en content, en, onze producten en services ontwikkelen en verbeteren. We are thrilled to have reached this milestone and to launch Bath & Body Works as a standalone company. Learn how we create a supportive environment focused on our people. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. At Bath & Body Works, everybody belongs. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Consistent with our previously disclosed intention to reduce debt by up to $500 million, this morning, we announced a tender offer to purchase $500 million of our 2023, 2025, and 2027 outstanding notes, which commences today. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. View BBWI financial statements in full. Thanks. Bath & Body Works is a leader in personal care and home fragrance, so we understand the positive impact we can make. Our operating income rate for the quarter of 25.3% increased 870 basis points compared to 2019, driven by merchandise margin rate expansion and leverage in both buying and occupancy and SG&A on the high sales growth. January 9, 2023. Bath & Body Works, Inc., All Rights Reserved, Committee Charters and Governance Materials, Notice of Settlement of Shareholder Derivative Actions, Do Not Sell or Share My Personal Information (Certain States), Limit the Use of My Sensitive Personal Information (California), BATH & BODY WORKS CELEBRATES 25TH ANNIVERSARY OF NOSTALGIC ICON, CUCUMBER MELON, Bath & Body Works to Launch First-Ever Fabric Care Collection This Fall, Bath & Body Works Reports First Quarter 2023 Earnings Results, Bath & Body Works Appoints Maurice Cooper as Chief Customer Officer, Bath & Body Works to Report First Quarter Financial Results on May 18, 2023, Bath & Body Works Announces Changes to Leadership Team and Organizational Structure, Bath & Body Works Releases Inaugural ESG Report, BATH & BODY WORKS ANNOUNCES LEGACY-INSPIRED LAUNCHES IN CELEBRATION OF NATIONAL FRAGRANCE DAY, CEO Gina Boswell Named One of the Most Inspirational Women Leaders by Womens Wear Daily. It has shares worth $770 million remaining under the $1.5 billion share repurchase program.For fiscal 2021, the company expects capital expenditures in the bracket of $345-$370 million. Data Provided by Refinitiv. We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this report or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. I wanted to follow up on the category discussion. Bath & Body Works, Inc. will conduct its fourth quarter earnings call tomorrow, Feb. 24 at 9:00 a . Next question, please. Learn more about our business practices. -36.3%. The Childrens Place, Inc. PLCE, sporting a Zacks Rank #1, has a long-term earnings growth rate of 8%. Comparable sales went up 5% from second-quarter fiscal 2019 figures. KRISPY KREME Introduces New Fourth of July 'Stars and Stripes Dozen,' Beginning June 21 Jun 07, 2023 Krispy Kreme to Present at Evercore ISI Consumer and Retail Conference Jun 07, 2023 KRISPY KREME Expands 'C-Sweet' via Search for Fan to Serve as Brand's First-Ever 'Chief Doughnut Dreamer' While we're proud of our +2,650 customers, this represents only 6% of the global corporate market, leaving a tremendous opportunity for growth. Yeah. The vast majority of that $25 million is SG&A, so it will be included in SG&A. Skip to main content. On a one-year basis, we did see more expansion out of units with, obviously, the stores having been closed last year. Words such as estimate, project, plan, believe, expect, anticipate, intend, planned, potential and any similar expressions may identify forward-looking statements. It expects to close about 20-40 stores during fiscal 2021, mainly in malls. Nous, Yahoo, faisons partie de la famille de marques Yahoo. According to the issued ratings of 20 analysts in the last year, the consensus rating for Bath & Body Works stock is Hold based on the current 1 sell rating, 9 hold ratings and 10 buy ratings for BBWI. Zanidatamab KOL Investor Webcast Presentation 5.8 MB. Your line is open. Direct sales during the second quarter increased 128% from the figure in the same period in fiscal 2019.Moving on to Victorias Secret, sales surged 51.3% year on year to $1,613.8 million. Great. Presentation 970.6 KB. Review financial reports, stock performance and governance materials, and connect to our shareholder center. Learn about our approach to sustainability and environmental responsibility. In terms of the soap and sanitizer business, as we think about that, as we mentioned in our prepared remarks, it did decline on a one-year basis in Q2 of this year. Im just kind of curious how youre planning the business from a margin perspective? Thank you. Zacks earnings numbers are reported on a BNRI (Before Non Recurring Items) basis and include stock option expenses where possible. And Im not sure history is the best guide here just given that the business has grown so much as you look at it over a multiyear basis. Turning to our second quarter performance, we delivered record results, and we could not have done so without the continued hard work and commitment of all of our associates and partners. Learn about our policies and approach to product sourcing, safety, ingredients and more. So a long-winded way to say that our margin forecasts do assume that quite a bit of that inflationary pressure will actually come through to the bottom line. So its essentially, if you look at our reported consolidated balance sheet, its essentially a gross up. You can sign up for additional alert options . Additional information regarding these and other factors can be found in Item 1A. Nasdaq provides visual representation of analyst expected earnings growth. Or are you embedding any kind of offset on pricing or anything? This Zacks Rank #5 (Strong Sell) companys shares have declined 11.7% in the past three months compared with the industrys fall of 14.9%. So again, that guidance that weve provided of up 40% to 45% on a two-year basis for Q3 is a forecast that we feel very good about at this point. Great. Yeah. But again, those are two weeks out of 13 weeks and relatively small weeks relative to the overall quarter. Learn more about our business practices. Investor Relations. Obviously, youve got the debt buyback announced today, but just generally, what youre thinking about. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays.
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