• Home
  • News
  • Business
  • Bath & Body Works reports rise in Q4 sales and earnings

Bath & Body Works reports rise in Q4 sales and earnings

By Prachi Singh

loading...

Scroll down to read more

Business

Image: Bath & Body Works media assets

Bath & Body Works, Inc. reported net sales of 3.027 billion dollars for the fourth quarter ended January 29, 2022, an increase of 11 percent and earnings per share from continuing operations of 2.27 dollars compared to 1.96 dollars for the quarter ended Jan. 30, 2021.

The company also announced that Andrew Meslow will step down as chief executive officer and as a member of the board of directors, due to health reasons, effective May 12, 2022. To facilitate a smooth transition, Sarah E. Nash, chair of the board of directors, has been appointed executive chair, effective immediately, and will assume the role of interim chief executive officer upon Meslow’s departure.

Commenting on the results Meslow said: “We are very pleased to have delivered record sales and earnings results for both the fourth quarter and full-year 2021, particularly given the continued dynamic operating environment. Our confidence in the business and our positive momentum is reflected in the board’s recent authorization of a new 1.5 billion dollars share repurchase program and 33 percent increase to our annual dividend.”

Bath & Body Works Q4 and full year result highlights

Fourth quarter operating income was 879.2 million dollars compared to 869.2 million dollars last year, and net income was 592.6 million dollars compared to 556.9 million dollars last year.

On an adjusted basis, fourth quarter earnings per share increased 17 percent to 2.30 dollars compared to 1.96 dollars last year, operating income from continuing operations was 888.6 million dollars compared to 869.2 million dollars last year, and net income from continuing operations was 599.7 million dollars compared to 556.9 million dollars last year.

For the full year, net sales from continuing operations increased 22 percent to 7.882 billion dollars, while earnings per share from continuing operations were 3.94 dollars compared to 3.07 dollars for the year ended January 30, 2021.

Full-year operating income was 2.009 billion dollars compared to 1.604 billion dollars last year, and net income from continuing operations was 1.075 billion dollars compared to 864.7 million dollars last year.

Adjusted full-year earnings per share from continuing operations increased 45 percent to 4.51 dollars; adjusted operating income from continuing operations was 2.019 billion dollars compared to 1.634 billion dollars last year; and adjusted net income from continuing operations was 1.230 billion dollars compared to 878.2 million dollars last year.

Bath & Body Works reveals 2022 earnings outlook

The company is forecasting first quarter earnings per share from continuing operations between 47 cents and 55 cents, compared to 60 cents adjusted earnings per share from continuing operations in the prior year.

For the full fiscal year 2022, the company is forecasting earnings per share from continuing operations between 4.30 dollars and 4.70 dollars, compared to 4.51 dollars adjusted earnings per share from continuing operations in 2021.

Bath & Body Works