Bath & Body Works has announced its fourth quarter 2023 results, which showed net sales were $2.912 billion, an increase of 0.8% compared to $2.889 billion in the previous year.
Full-year 2023 results showed net sales were $7.429 billion, a decrease of 1.7% compared to $7.560 billion in the previous year.
Q4
Fourth quarter operating income was $696 million, as compared to $653 million in the previous year.
Net income from continuing operations was $579 million, as compared to $428 million in the previous year.
Gross profit was $1.337 billion, as compared to $1.250 billion in the previous year.
Gina Boswell, CEO of Bath & Body Works, said, “The team delivered fourth quarter net sales and earnings that exceeded the high end of our expectations. Underpinning these results was strong execution during the holiday season. Customers responded to innovation and newness as we delivered a seamless omnichannel shopping experience and drove continued enrollment in our loyalty program. Additionally, we continued to advance our operational efficiency initiatives. Looking ahead, we remain focused on further improving the customer experience and building on our strong foundation to drive long-term profitable growth.”
Full-year 2023
Operating income was $1.285 billion, as compared to $1.376 billion in the previous year.
Net income from continuing operations was $878 million, as compared to $794 million in the previous year.
Gross profit was $3.236 billion, as compared to $3.255 billion in the previous year.
2024 Outlook
The company is forecasting net sales to range between a decline of 3.0% to flat relative to $7.429 billion of net sales in fiscal 2023.
