Companies /Consumer Cyclical

Bath & Body Works Inc

NYSE: BBWI Specialty Retail
$16.73
▲ $0.01 (+0.06%) today
Markets closed · 11:06pm ET

Q1 2026 Earnings

Reported May 29, 2025, 7:20am ET · SEC source
$0.49
Beat +3.99%
EPS · est. $0.47
$1.4B
Miss −0.02%
Revenue · est. $1.4B
+7.8%
Beating market
BBWI vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0May 29May 30report 7:20am ETearnings−1.4%−10.3%
−8%−4%0May 29May 30earnings−1.4%−10.3%
BBWI −10.3%S&P 500 −1.4%
−8%−4%0May 29May 30report 7:20am ETearnings−2.4%−10.3%
−8%−4%0May 29May 30earnings−2.4%−10.3%
BBWI −10.3%NASDAQ −2.4%
−15%−10%−5%0May 28Jun 6report 7:20am ETearnings+0.8%−14.6%
−15%−10%−5%0May 28Jun 6earnings+0.8%−14.6%
BBWI −14.6%S&P 500 +0.8%
−15%−10%−5%0May 28Jun 6report 7:20am ETearnings+0.6%−14.6%
−15%−10%−5%0May 28Jun 6earnings+0.6%−14.6%
BBWI −14.6%NASDAQ +0.6%
−6.23%
Day of report
−1.61%
Next session
−6.96%
One week
+12.49%
30 days

S&P 500 over the same 30 days: +4.68%.

Did BBWI Beat Earnings? Q1 2026 Results

Bath & Body Works posted a solid first quarter of fiscal 2025, beating earnings expectations while revenue landed essentially in line with Wall Street. The company reported adjusted earnings per diluted share of $0.49, ahead of the $0.47 consensus estimate by 3.99%, while net sales rose 2.9% year over year to $1.42 billion, finishing at the high end of its own guidance range. The earnings strength was underpinned by meaningful operating leverage, with gross profit expanding to $646 million from $606 million a year ago, even as interest expense declined to $71 million from $82 million thanks to ongoing debt reduction. U.S. and Canada stores led the top-line charge, with sales climbing 4.3% to $1.11 billion, though the direct channel slipped 4.3% to $250 million. The quarter also brought a notable leadership shift, as the company appointed former Nike executive Daniel Heaf as CEO. Looking ahead, Bath & Body Works reaffirmed its full-year guidance of 1% to 3% sales growth and EPS of $3.25 to $3.60, inclusive of current tariff assumptions.

Key Takeaways
  • Positive customer response to fragrance innovation drove net sales growth
  • U.S. and Canada store channel up 4.3%, outperforming e-commerce
  • International sales grew 10.1% year-over-year
  • Predominantly U.S.-based supply chain providing tariff insulation
  • Interest expense declined to $71 million from $82 million due to debt reduction

“I'm honored to join this iconic brand with a deep sense of purpose and a powerful foundation. I have already had the privilege of meeting many associates across the company, and I'm incredibly impressed by the passion, dedication, and talent across our teams. I believe we're incredibly well positioned to define and lead the home fragrance and beauty categories globally and accelerate growth.”

Bath & Body Works CEO, on the earnings call

Forward Guidance & Outlook

Bath & Body Works maintains full-year fiscal 2025 net sales guidance of 1% to 3% growth (compared to $7,307 million in fiscal 2024) and earnings per diluted share of $3.25 to $3.60, inclusive of current tariff rates. The outlook includes approximately $300 million of cash deployed towards share repurchases and forecasted free cash flow of $750 million to $850 million. For Q2 2025, the company expects net sales flat to up 2% compared to $1,526 million in Q2 2024, and EPS of $0.33 to $0.38. Guidance excludes an estimated $0.05 negative EPS impact from the CEO transition.

BBWI YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$400.0M$800.0M$1.2B$1.4B$1.4BRevenue$606.0M$646.0MGross Profit$187.0M$209.0MOperating Income$87.0M$105.0MNet Income
$0$400.0M$800.0M$1.2BRevenueGross ProfitOperating IncomeNet Income

BBWI Revenue by Segment

Stores - U.S. and Canada$1.1B+4.3%
Direct - U.S. and Canada$250.0M−4.3%
International$64.0M+10.1%

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