Bath & Body Works Q1 2024 earnings are in: Revenue decreased 0.9 percent.
Bath & Body Works beat Wall Street forecasts in its first quarter, but the retailer’s full year guidance fell short of expectations.
The company reported net sales of $1.38 billion for the quarter ended May 4, a decrease of 0.9 percent compared to $1.39 billion for the same period last year. Wall Street had expected $1.37 billion.per diluted share increased 15 percent to 38 cents compared to 33 cents last year, and net income was $87 million, up from $76 million. Analysts had forecast 33 cents.
Gina Boswell, chief executive officer of Bath & Body Works, said” “We delivered a better-than-expected start to the year with net sales and earnings per share above the high-end of our guidance range. We are particularly excited with the success of our product introductions and newness, which drove the performance of both our core business and new adjacencies. Our focus on building strong brand awareness and engagement is delivering greater customer retention and loyalty.
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