Soap and perfume retailer’s disappointing guidance for fiscal 2024
- Bath & Body Works expects earnings to fall in fiscal 2024
- Fourth-quarter net income of $579 million, beating expectations
- Sales climbed to $2.912 billion, exceeding consensus
- Fiscal 2024 sales expected to range from down 3% to flat
- Adjusted EPS expected to range from $3.00 to $3.35 in fiscal 2024
- First-quarter sales expected to fall 4.5% to 2.0%
- New shareholder buyback program approved for up to $500 million
Bath & Body Works Inc. reported better-than-expected fourth-quarter numbers, with net income of $579 million and sales of $2.912 billion. However, the company’s disappointing guidance for fiscal 2024, expecting a decline in earnings, overshadowed the positive results. The sales and earnings for the quarter were above expectations and were boosted by a strong holiday performance. Bath & Body Works, which was spun out of Victoria’s Secret, is now expecting fiscal 2024 sales to range from down 3% to flat, with adjusted EPS expected to range from $3.00 to $3.35. The company also announced a new shareholder buyback program of up to $500 million. The stock has gained 18% in the last 12 months.
Factuality Level: 7
Factuality Justification: The article provides specific details about Bath & Body Works Inc.’s financial performance, including net income, earnings per share, sales figures, and future expectations. The information is sourced from the company’s official statements and includes comparisons to analyst expectations. However, the article lacks in-depth analysis and context about the industry or market trends that could provide a more comprehensive understanding of the situation.
Noise Level: 3
Noise Justification: The article provides relevant information about Bath & Body Works Inc.’s stock performance and financial outlook. It includes details about earnings, sales, and expectations for fiscal 2024. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people. The article stays on topic and supports its claims with data and examples, but it does not offer actionable insights or solutions for the reader.
Financial Relevance: Yes
Financial Markets Impacted: Bath & Body Works Inc.’s stock
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to Bath & Body Works Inc.’s financial performance and stock market impact. There is no mention of an extreme event.
Public Companies: Bath & Body Works Inc. (N/A), Victoria’s Secret (N/A)
Key People: Gina Boswell (Chief Executive)
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