Bath & Body Works Q2 adjusted EPS $0.37 beats guidance; lowers FY2024 outlook

Bath & Body Works, Inc.

2024-Q2 EPS reported $1.06 revenue$2,910,000,000

Q2 net sales $1,526M, down 2.1% YoY; adjusted EPS $0.37 vs. $0.40 last year, above guidance.
Reported EPS $0.68 includes $39M pre-tax gain on Easton investments and $44M tax benefit.
FY2024 net sales guidance lowered to decline 2%-4% vs. FY2023; adjusted EPS $3.06-$3.26.
Increased expected FY2024 share repurchases to $400M from prior $300M.
Q3 guidance: net sales flat to +2.5%, EPS $0.41-$0.47 vs. $0.52 reported last year.

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