BBWI
Bath & Body Works, Inc.19.64
-0.08-0.41%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Proof points, margin details emerge
Q&A surfaced early proof points for the Consumer First Formula, including double productivity from the new moisturizing hand soap versus gel soap and plans for a tenfold ramp in content creators to snag younger shoppers. Eva quantified $50 million sales contribution from Amazon and expanded distribution—half a point of growth—while detailing 130 basis points gross margin pressure from product investments and tariffs, with Q1 outsized hits. Core sales trend down 3% excluding promotions; international partners plan 60 net new stores. No buybacks assumed, but cash return flexibility persists. Growth precedes margins. Watch new-to-brand gains and hero category traction.
Key Stats
Market Cap
4.05BP/E (TTM)
6.08Basic EPS (TTM)
3.23Dividend Yield
0.04%Recent Filings
8-K
Q4 sales beat, 2026 guidance
Bath & Body Works reported Q4 2025 net sales of $2.7B, down 2%, with adjusted EPS of $2.05 beating guidance amid Consumer First Formula execution like Amazon launch. Full-year sales dipped 0.2% to $7.3B; 2026 guides sales down 2.5%-4.5%, adjusted EPS $2.40-$2.65. Transformations take time. Free cash flow eyed at $600M.
8-K
Calls 2027 notes for redemption
8-K
CLO Wu departs Bath & Body Works
Bath & Body Works' Chief Legal Officer Michael Wu ceased his role effective February 24, 2026. The company launched a search for his replacement while Wu aids transition as a non-executive until separation around March 27. He'll get termination-without-cause severance per his 2022 agreement, subject to release and good standing. Post-exit restrictive covenants bind him.
10-Q
Q3 FY2025 results
Bath & Body Works posted Q3 net sales of $1,594M, down 1.0% y/y yet up 1.1% YTD to $4,567M on store traffic gains that offset direct sales softness. Operating income fell to $161M from $218M y/y amid gross margin contraction to 41.3% from 43.5% (tariffs, promotions per MD&A) and higher selling expenses, while diluted EPS dropped to $0.37 from $0.49 on 206M shares. Cash fell to $236M after $225M operating cash flow minus $174M capex and $344M buybacks, with $3.9B long-term debt offset by $741M ABL availability. Leadership transition costs hit $15M YTD. Stores drive growth. Competition crimps margins.
8-K
Q3 sales dip, transformation launched
Bath & Body Works reported Q3 2025 net sales of $1,594 million, down 1% from last year, with adjusted EPS of $0.35 versus $0.49. The company launched its Consumer First Formula transformation plan targeting product innovation, brand revival, marketplace gains, and efficiency—including $250 million cost savings over two years. Q4 sales guidance cut to high-single-digit decline; full-year sales now low-single-digit drop, adjusted EPS at least $2.87. Macro pressures persist.
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