Bath & Body Works, Inc. (NYSE:BBWI) Q3 2023 Earnings Conference Call November 16, 2023 9:00 AM ET Company Participants Gina Boswell - CEO Eva Boratto - CFO Julie Rosen - President, Retail Heather Hollander - VP, IR Conference Call Participants Simeon Siegel - BMO Capital Markets Alex Straton - Morgan Stanley Paul Lejuez - Citi Kate McShane - Goldman Sachs Matthew Boss - J.P. Morgan Gabby Carbone - Deutsche Bank Lorraine Hutchinson - Bank of America Adrienne Yih - Barclays Mark Altschwager - Robert W. Baird ...

Third Quarter Earnings Supplemental Material Forward-Looking Statements Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Wecautionthatanyforward-lookingstatements(assuchtermisdefinedinthePrivateSecuritiesLitigationReformActof1995)containedinthispresentationormadebyourcompanyorour management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may diff ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-Q _________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8344 _________________________________ BATH & BODY WORKS ...

Bath & Body Works, Inc. (NYSE:BBWI) Q2 2023 Earnings Conference Call August 23, 2023 9:00 AM ET Company Participants Heather Hollander - Vice President, Investor Relations Gina Boswell - Chief Executive Officer Julie Rosen - President, Retail Eva Boratto - Chief Financial Officer Conference Call Participants Kate McShane - Goldman Sachs Alex Straton - Morgan Stanley Ike Boruchow - Wells Fargo Dana Telsey - the Telsey Group Matthew Boss - JPMorgan Lorraine Hutchinson - Bank of America Adrienne Yih - Barclays ...

Second Quarter Earnings Supplemental Material August 23, 2023 Forward-Looking Statements Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this presentation or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our fu ...

Financial Performance - In Q1 2023, Net Sales decreased by $54 million, or 4%, to $1.396 billion compared to Q1 2022, with U.S. store sales down 2% and direct channel sales down 12%[57]. - Operating Income fell by $99 million, or 35%, to $181 million, with the Operating Income rate decreasing to 12.9% from 19.3%[57]. - Gross Profit decreased by $73 million to $596 million, with the Gross Profit rate declining to 42.7% from 46.1% due to inflationary pressures and increased expenses[72]. - General, Administrative and Store Operating Expenses increased by $26 million to $415 million, with the rate increasing to 29.7% from 26.8%[73]. - Net cash provided by operating activities in Q1 2023 was $44 million, down from $66 million in Q1 2022, with net income of $81 million[82]. - The company reported net sales of $1,352 million for the first quarter of 2023, with a gross profit of $556 million and net income of $63 million[98]. Cost Management - The company anticipates continued macroeconomic uncertainty and expects modest cost deflation benefits in Q2 2023, partially offset by investments in product formulation and packaging innovation[58]. - The company is targeting $200 million in annual cost savings, expecting to achieve over $100 million in 2023, with increased savings anticipated as the year progresses[59]. Store Operations - The company completed the rollout of Buy Online-Pick Up In Store (BOPIS) capabilities to U.S. stores in Q1 2023[70]. - The company opened 16 new stores and closed 8, resulting in a total of 1,810 stores as of April 29, 2023[64]. - International Net Sales increased by $9 million, or 13%, primarily due to new stores opened by partners[70]. Debt and Financing - The average daily borrowings for Q1 2023 were $4.896 billion, with an average borrowing rate of 7.3%[75]. - Net cash used for financing activities in Q1 2023 was $135 million, significantly lower than $1.306 billion in Q1 2022[84]. - The company repurchased $84 million principal amount of senior notes for an aggregate price of $76 million in Q1 2023, resulting in a pre-tax gain of $7 million[91]. - The company repurchased $50 million principal amount of senior notes for an aggregate price of $46 million between April 29, 2023, and June 2, 2023[93]. - Total long-term debt as of April 29, 2023, was $4.781 billion, a decrease from $4.862 billion as of January 28, 2023[90]. - The estimated fair value of the company's outstanding debt was $4,589 million as of April 29, 2023, compared to a principal value of $4,831 million[105]. Cash and Liquidity - Cash and cash equivalents at the end of Q1 2023 were $1.046 billion, compared to $651 million at the end of Q1 2022[80]. - The company had $607 million available under its asset-backed revolving credit facility as of April 29, 2023[79]. - The Asset-backed Revolving Credit Facility has aggregate commitments of $750 million, with a borrowing base of $623 million as of April 29, 2023, and no outstanding borrowings[93]. - As of April 29, 2023, the company had $607 million available under the ABL Facility after accounting for $16 million in outstanding letters of credit[93]. Tax and Obligations - The effective tax rate for Q1 2023 was 27.7%, up from 19.4% in Q1 2022, primarily due to accrued interest expense related to unrecognized tax benefits[77]. - The company has contingent obligations of $278 million related to lease payments as of April 29, 2023[98]. - The company maintains a fixed charge coverage ratio requirement of 1.00 to 1.00 under the ABL Facility, but was not required to maintain this ratio as of April 29, 2023[93]. Capital Expenditures - Capital expenditures in Q1 2023 totaled $93 million, with plans for $300 million to $350 million in capital expenditures for the full year[83]. Credit Ratings - The company has a stable outlook for its credit ratings, with Moody's rating at Ba2 and S&P rating at BB as of April 29, 2023[94].

Bath & Body Works, Inc. (NYSE:BBWI) Q1 2023 Earnings Conference Call May 18, 2023 9:00 AM ET Company Participants Heather Hollander - Vice President, Investor Relations Gina Boswell - Chief Executive Officer and Director Julie Rosen - President Wendy Arlin - Chief Financial Officer Conference Call Participants Alexandra Straton - Morgan Stanley Simeon Siegel - BMO Capital Markets Lorraine Hutchinson - Bank of America Matthew Boss - JPMorgan Olivia Tong - Raymond James Ike Boruchow - Wells Fargo Mark Alt ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ______________________________________________________ FORM 10-K ______________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from to Commission fil ...

Bath & Body Works, Inc. (NYSE:BBWI) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET Company Participants Heather Hollander - Vice President, Investor Relations Gina Boswell - Chief Executive Officer and Director Wendy Arlin - Chief Financial Officer Julie Rosen - President Conference Call Participants Jay Sole - UBS Alex Straton - Morgan Stanley Matthew Boss - JPMorgan Kate McShane - Goldman Sachs Kelly Crago - Citigroup Lorraine Hutchinson - Bank of America Simeon Siegel - BMO Capital Markets ...

Fourth Quarter Earnings Supplemental Material February 23, 2023 Forward-Looking Statements Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this presentation or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our ...