Bath & Body Works has announced its first quarter 2022 results that showed net sales were $1.450 billion, compared to $1.469 billion in the previous year.
Operating income was $280.0 million, compared to $337.2 million in the previous year.
Net income from continuing operations was $154.9 million, compared to $90.3 million in the previous year.
Gross profit was $668.5 million, compared to $741.6 million in the previous year.
Fiscal 2022 Outlook
Bath & Body Works is forecasting second quarter earnings from continuing operations per diluted share between $0.60 and $0.65, compared to $0.77 earnings from continuing operations per diluted share in the previous year.
For fiscal 2022, the company is forecasting earnings from continuing operations per diluted share between $3.80 and $4.15, compared to $4.51 adjusted earnings from continuing operations per diluted share in the previous year and its previous guidance of between $4.30 and $4.70.
Sarah Nash, executive chair and interim CEO, said, “Our business is very strong, our execution is excellent and our strategy of delivering affordable luxuries to our customers is more relevant than ever. We have built on the past two years of extraordinary growth with strong momentum as we entered fiscal 2022. We are pleased to have delivered better-than-expected sales and earnings results in the quarter.”
