Bath & Body Works Reports 2024 Fourth Quarter and Full-Year Results and Provides 2025 Guidance

Core Insights - Bath & Body Works, Inc. reported strong performance in the fourth quarter of fiscal 2024, exceeding expectations on both revenue and earnings, driven by product innovation and enhanced customer experience [2][11] - The company experienced a decrease in net sales and earnings per diluted share compared to the previous year, attributed to a shift in the fiscal calendar [3][4][6] Fourth Quarter 2024 Results - Net sales for the fourth quarter were $2,788 million, a decrease of 4.3$2,912 million in the previous year [3][44] - Earnings per diluted share were $2.09, down from$2.55 in the prior year [4][32] - Operating income was reported at $678 million, compared to$696 million last year [4][22] - Net income decreased to $453 million from$579 million in the previous year [4][22] Full-Year 2024 Results - Full-year net sales decreased by 1.6% to $7,307 million from$7,429 million [6][44] - Earnings per diluted share for the year were $3.61, down from$3.84 in 2023 [7][32] - Full-year operating income was $1,266 million, compared to$1,285 million last year [7][22] - The company repurchased 10.4 million shares for $400 million and reduced long-term debt by$514 million [7] Guidance for 2025 - The company forecasts net sales growth of 1% to 3% for fiscal 2025, with expected earnings per diluted share between $3.25 and$3.60 [13][14] - Anticipated free cash flow for fiscal 2025 is projected to be between $750 million and$850 million [13][34] Share Repurchase Program - The Board of Directors authorized a new share repurchase program of up to $500 million, replacing the previous program [11][15] Store Performance - The total number of company-operated stores increased to 1,895, with 106 new openings and 61 closures [46] - International partner-operated stores also saw an increase, totaling 529 [47]