Global Finance News
27 Feb 2025, 17:50
Bath & Body Works reported its fourth-quarter and full-year 2024 results, exceeding earnings expectations and providing 2025 guidance.
The company recorded fourth-quarter net sales of $2.8 billion and earnings per diluted share of $2.09, surpassing projections. Strong traffic and conversion rates contributed to performance, despite a 4.3% decline in sales due to a shifted fiscal calendar that included an extra week in 2023. Net income for the quarter was $453 million, down from $579 million in the prior year.
For the full year, net sales declined 1.6% to $7.3 billion, reflecting the impact of the 53rd week in fiscal 2023. Earnings per diluted share were $3.61, compared to $3.84 in 2023. The company repurchased 10.4 million shares for $400 million and exited the year with a debt leverage ratio of 2.5x.
Looking ahead to 2025, Bath & Body Works expects net sales growth of 1% to 3% and earnings per diluted share between $3.25 and $3.60. The first quarter is projected to see similar sales growth, with earnings per diluted share between $0.36 and $0.43. The company also authorized a new $500 million share repurchase program.
CEO Gina Boswell highlighted the company’s success in product innovation, marketing, and international expansion, positioning it for continued growth despite broader retail sector challenges.
The company recorded fourth-quarter net sales of $2.8 billion and earnings per diluted share of $2.09, surpassing projections. Strong traffic and conversion rates contributed to performance, despite a 4.3% decline in sales due to a shifted fiscal calendar that included an extra week in 2023. Net income for the quarter was $453 million, down from $579 million in the prior year.
For the full year, net sales declined 1.6% to $7.3 billion, reflecting the impact of the 53rd week in fiscal 2023. Earnings per diluted share were $3.61, compared to $3.84 in 2023. The company repurchased 10.4 million shares for $400 million and exited the year with a debt leverage ratio of 2.5x.
Looking ahead to 2025, Bath & Body Works expects net sales growth of 1% to 3% and earnings per diluted share between $3.25 and $3.60. The first quarter is projected to see similar sales growth, with earnings per diluted share between $0.36 and $0.43. The company also authorized a new $500 million share repurchase program.
CEO Gina Boswell highlighted the company’s success in product innovation, marketing, and international expansion, positioning it for continued growth despite broader retail sector challenges.
