Bath & Body Works Q4 sales down 5% to $2.889B; EPS $1.86 vs $2.27; guides FY23 EPS $2.50-$3.00

Bath & Body Works, Inc.

2022-FY EPS reported $3.43 revenue$7,560,000,000

Q4 net sales $2.889B (-5% YoY); operating income $652.7M vs $879.2M; net income $428.2M vs $592.6M.
Full-year 2022 net sales $7.560B (-4% YoY); EPS $3.40 vs $3.94; operating income $1.376B vs $2.009B.
Q1 2023 EPS guidance $0.17-$0.27 vs $0.64 prior year; full-year 2023 EPS $2.50-$3.00 vs $3.40.
Enterprise efficiency program targets $200M annual cost savings; over half expected in 2023 second half.
Loyalty program exceeds 33 million members; CEO cites challenging macro environment.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bath & Body Works, Inc. reported the fourth quarter ended Jan. 28, 2023 results: revenue $2.889 billion, net income $428.2 million, EPS $1.86.

Period: the fourth quarter ended Jan. 28, 2023
Revenue: $2.889 billion
Net income: $428.2 million
EPS: $1.86
Result: reported results

Exact text from the filing

The company reported net sales of $2.889 billion for the fourth quarter ended Jan. 28, 2023, a decrease of 5% compared to net sales of $3.027 billion for the fourth quarter ended Jan. 29, 2022. The company reported earnings from continuing operations per diluted share of $1.86 for the fourth quarter of 2022, compared to $2.27 for the same period of the prior year. Fourth quarter operating income was $652.7 million compared to $879.2 million last year, and net income from continuing operations was $428.2 million compared to $592.6 million last year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bath & Body Works, Inc. reported the first quarter of fiscal 2023 results: EPS between $0.17 and $0.27. Guidance initiated.

Period: the first quarter of fiscal 2023
EPS: between $0.17 and $0.27
Guidance: initiated
Result: guidance update

Exact text from the filing

The company expects first quarter net sales to decline low- to mid-single digits compared to $1.450 billion in 2022. First quarter earnings from continuing operations per diluted share are expected to be between $0.17 and $0.27, compared to $0.64 earnings from continuing operations per diluted share in the first quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bath & Body Works, Inc. reported fiscal 2023 results: EPS between $2.50 and $3.00. Guidance initiated.

Period: fiscal 2023
EPS: between $2.50 and $3.00
Guidance: initiated
Result: guidance update

Exact text from the filing

For fiscal 2023, the company is forecasting flat net sales to a mid-single digit decline compared to $7.560 billion in 2022. Full-year 2023 earnings from continuing operations per diluted share is expected to be between $2.50 and $3.00, compared to $3.40 in 2022. Fiscal 2023 will include a 53 rd week, with the fourth quarter of fiscal 2023 consisting of 14 weeks. The company’s full-year outlook includes the impact of the 53 rd week, estimated at 7 cents per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bath & Body Works, Inc. reported the year ended Jan. 28, 2023 results: revenue $7.560 billion, net income $794 million, EPS $3.40.

Period: the year ended Jan. 28, 2023
Revenue: $7.560 billion
Net income: $794 million
EPS: $3.40
Result: reported results

Exact text from the filing

Net sales from continuing operations decreased 4% to $7.560 billion for the year ended Jan. 28, 2023, compared to $7.882 billion for the year ended Jan. 29, 2022. The company reported earnings from continuing operations per diluted share of $3.40 for the year, compared to $3.94 in 2021. Full-year operating income was $1.376 billion compared to $2.009 billion last year, and net income from continuing operations was $794 million compared to $1.075 billion last year.

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Source: SEC EDGAR

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