Bath & Body Works, Inc. (NYSE:BBWI) shares are trading lower on Wednesday.
The company reported the second quarter adjusted earnings per share of 37 cents, beating the analyst consensus of 36 cents.
Quarterly sales of $1.526 billion (down 2.1%) missed the street view of $1.543 billion.
"We are leveraging our agile business model to navigate the dynamic retail environment. We are poised to meet their demand through our good, better, best assortment, which offers exceptionally crafted products and fragrances at price points for everyone," Gina Boswell, CEO of Bath & Body Works, said.
The company's second-quarter results included a $39 million pre-tax gain ($25 million net of tax of $14 million) related to the sales of certain Easton investments and a $44 million tax benefit (related to the release of a valuation allowance on a deferred tax asset).
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Bath & Body Works exited the quarter with cash and equivalents of $514 million. The company's inventories as of quarter end totaled $863 million, with long-term debt of $3.88 billion.
"The strength of our high-margin business model and strong cash flow generation enables us to continue investing in our key initiatives, while at the same time returning cash to shareholders through dividends and planned share repurchases," Boswell added.
Outlook: Bath & Body Works anticipates that its net sales for FY24 will decline between 4% and 2%, down from the previous forecast range of a 2.5% decline to no change. The company has also revised its adjusted EPS forecast to between $3.06 and $3.26, compared to the estimate of $3.26.
The company's full-year guidance includes the anticipated impact of $400 million of cash deployed towards share repurchases, which is an increase from the prior expectation of $300 million.
Bath & Body Works expects its third quarter net sales to remain flat to increase by 2.5%, with earnings per share projected to be between $0.41 and $0.47, compared to the estimate of $0.53.
Price Action: BBWI shares are trading lower by 4.95% to $33.00 premarket at last check Wednesday.
Bath & Body Works, Inc.（纽约证券交易所代码：BBWI）股价周三走低。
该公司公布的第二季度调整后每股收益为37美分，超过了分析师共识的36美分。
季度销售额为15.26亿美元（下降2.1％），未达到15.43亿美元的街景。
“我们正在利用敏捷的商业模式来驾驭动态的零售环境。Bath & Body Works首席执行官吉娜·博斯韦尔说，我们准备通过优质、更好、最好的产品系列来满足他们的需求，这些产品和香水价格合理，适合所有人。
该公司第二季度的业绩包括与出售某些伊斯顿投资相关的3,900万美元税前收益（扣除1,400万美元的税后收益为2500万美元）和4400万美元的税收优惠（与递延所得税资产的估值补贴的发放有关）。
Bath & Body Works以5.14亿美元的现金及等价物在本季度退出。截至季度末，该公司的库存总额为8.63亿美元，长期债务为38.8亿美元。
博斯韦尔补充说：“我们的高利润商业模式和强劲的现金流创造使我们能够继续投资我们的关键举措，同时通过分红和计划中的股票回购向股东返还现金。”
展望：Bath & Body Works预计，其24财年的净销售额将下降4％至2％，从之前的2.5％下降至无变化。该公司还将调整后的每股收益预测上调至3.06美元至3.26美元之间，而估计为3.26美元。
该公司的全年指引包括用于股票回购的4亿美元现金的预期影响，这比之前预期的3亿美元有所增加。
Bath & Body Works预计，其第三季度的净销售额将保持平稳，增长2.5％，预计每股收益将在0.41美元至0.47美元之间，而预期为0.53美元。
价格走势：周三最后一次检查时，BBWI股价盘前下跌4.95％，至33.00美元。
