Companies /Consumer Cyclical
Bath & Body Works Inc
NYSE: BBWI Specialty Retail
$17.94
▲ $0.48 (+2.75%) today
Markets closed · 4:46pm ET

Bath & Body Works (BBWI) Q4 2024 Earnings

Reported Feb 27, 2025, 7:10am ET · SEC source
$2.09
Beat +2.23%
EPS · est. $2.04 GAAP
$2.8B
Beat +0.42%
Revenue · est. $2.8B
−11.1%
Trailing market
BBWI vs S&P since report
3 quarters
Consecutive EPS beats

How Did BBWI Stock React to Q4 2024 Earnings?

% change · around the report
−12%−6%0+6%Feb 27Feb 28report 7:10am ETearnings−2.6%−8.6%
−12%−6%0+6%Feb 27Feb 28earnings−2.6%−8.6%
BBWI −8.6%S&P 500 −2.6%
−12%−6%0+6%Feb 27Feb 28report 7:10am ETearnings−4.0%−8.6%
−12%−6%0+6%Feb 27Feb 28earnings−4.0%−8.6%
BBWI −8.6%NASDAQ −4.0%
−14%−7%0+7%Feb 26Mar 7report 7:10am ETearnings−4.4%−12.6%
−14%−7%0+7%Feb 26Mar 7earnings−4.4%−12.6%
BBWI −12.6%S&P 500 −4.4%
−14%−7%0+7%Feb 26Mar 7report 7:10am ETearnings−5.9%−12.6%
−14%−7%0+7%Feb 26Mar 7earnings−5.9%−12.6%
BBWI −12.6%NASDAQ −5.9%
−12.71%
Day of report
+1.03%
Next session
−4.63%
One week
−15.45%
30 days

S&P 500 over the same 30 days: −4.39%.

Did BBWI Beat Earnings? Q4 2024 Results

Yes. Bath & Body Works reported Q4 2024 earnings of $2.09 a share on Feb 27, 2025, beating the $2.04 consensus estimate by 2.2%. Revenue was $2.8B against a $2.8B estimate.

Bath & Body Works closed out fiscal 2024 with a holiday quarter that beat expectations on both lines, even as a shorter selling period weighed on headline results. GAAP diluted EPS of $2.09 edged past the $2.04 consensus by 2.23%, while net sales of $2.79 billion topped estimates by 0.42%, though they fell 4.3% year-over-year; management noted that roughly 500 basis points of that decline reflected the calendar shift from a 14-week Q4 in 2023 to a 13-week quarter this time around. Unlike the prior-year period, which carried a $112 million tax benefit that inflated GAAP results, Q4 2024 required no such adjustments, making the comparison more straightforward on the earnings line. Investors nonetheless sent shares sharply lower, skeptical of a 2025 outlook that guides for only 1% to 3% net sales growth and GAAP EPS of $3.25 to $3.60, a range that incorporates China tariff impacts but leaves potential further trade policy changes unaddressed, adding another layer of uncertainty to the company's near-term trajectory.

Key Takeaways
  • Strong traffic and conversion in Q4 building on Q3 momentum
  • Product innovation driving customer engagement
  • Outstanding customer experience provided by store associates
  • Enhanced marketing and technology initiatives
  • Improved cost of goods sold and SG&A expenses

“Our team delivered strong performance that exceeded expectations on both the top and bottom line in the critical fourth quarter. This success was driven by our product innovation, strong execution and the outstanding customer experience provided by our associates.”

Bath & Body Works CEO, on the earnings call

What Was Bath & Body Works's Outlook in Q4 2024?

For fiscal 2025, Bath & Body Works forecasts net sales growth of 1% to 3% compared to $7,307 million in fiscal 2024. Full-year 2025 EPS is expected to be $3.25 to $3.60. The company anticipates deploying approximately $300 million towards share repurchases and generating free cash flow of $750 million to $850 million (from operating cash flow of $1,020 to $1,100 million less capital expenditures of $250 to $270 million). For Q1 2025, net sales are expected to grow 1% to 3% versus $1,384 million in Q1 2024, with EPS of $0.36 to $0.43. The outlook reflects recently enacted tariffs on goods imported from China but excludes potential impacts from other possible tariff changes.

BBWI YoY Financials

Q4 2024 vs Q4 2023 · SEC filings Q4 2023 Q4 2024
$0$900.0M$1.8B$2.7B$2.9B$2.8BRevenue$1.3B$1.3BGross Profit$695.0M$678.0MOperating Income$579.0M$453.0MNet Income
$0$900.0M$1.8B$2.7BRevenueGross ProfitOperating IncomeNet Income
BBWI income statement, Q4 2024 versus Q4 2023
Metric Q4 2024 Q4 2023 Year over year
Revenue $2.8B $2.9B −4.3%
Gross Profit $1.3B $1.3B −2.6%
Operating Income $678.0M $695.0M −2.5%
Net Income $453.0M $579.0M −21.8%

BBWI Revenue by Segment

Stores - U.S. and Canada$2.1B−2.4%
Direct - U.S. and Canada$595.0M−9.4%
International and Other$84.0M−10.1%

Figures from SEC filings and company reports. Not investment advice.