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.（紐約證券交易所代碼：BBWI）股價週三走低。
該公司公佈的第二季度調整後每股收益爲37美分，超過了分析師共識的36美分。
季度銷售額爲15.26億美元（下降2.1％），未達到15.43億美元的街景。
“我們正在利用敏捷的商業模式來駕馭動態的零售環境。Bath & Body Works首席執行官吉娜·博斯韋爾說，我們準備通過優質、更好、最好的產品系列來滿足他們的需求，這些產品和香水價格合理，適合所有人。
該公司第二季度的業績包括與出售某些伊斯頓投資相關的3,900萬美元稅前收益（扣除1,400萬美元的稅後收益爲2500萬美元）和4400萬美元的稅收優惠（與遞延所得稅資產的估值補貼的發放有關）。
Bath & Body Works以5.14億美元的現金及等價物在本季度退出。截至季度末，該公司的庫存總額爲8.63億美元，長期債務爲38.8億美元。
博斯韋爾補充說：「我們的高利潤商業模式和強勁的現金流創造使我們能夠繼續投資我們的關鍵舉措，同時通過分紅和計劃中的股票回購向股東返還現金。」
展望：Bath & Body Works預計，其24財年的淨銷售額將下降4％至2％，從之前的2.5％下降至無變化。該公司還將調整後的每股收益預測上調至3.06美元至3.26美元之間，而估計爲3.26美元。
該公司的全年指引包括用於股票回購的4億美元現金的預期影響，這比之前預期的3億美元有所增加。
Bath & Body Works預計，其第三季度的淨銷售額將保持平穩，增長2.5％，預計每股收益將在0.41美元至0.47美元之間，而預期爲0.53美元。
價格走勢：週三最後一次檢查時，BBWI股價盤前下跌4.95％，至33.00美元。
