Bath & Body Works Posts Solid Results; Outlook for High Demand and Customer Loyalty

What you need to know

• Bath & Body Works exceeds quarterly estimates on positive growth in store traffic and its loyalty program.
• Amid optimism for the upcoming holiday season, retailer has also raised their guidance for full year.
• A supply chain based in the United States was beneficial to this company.

Bath & Body Works (BBWI) shares skyrocketed when the personal care items retailer posted better-than-expected results and boosted its outlook on strong store traffic, customer loyalty and optimism about the upcoming holiday season.

Owner of the namesake location reported its third-quarter results Earnings per share adjusted (EPS) at $0.49 with revenues up 3.1%, to $1.61 Billion. Both exceeded expectations.

Sales of body care products, soaps and sanitizers, as well as home fragrances, rose by low single-digit percentages. Customer retention rates reached a new record, with active members in its loyalty program increasing by approximately 4%. Program members accounted for more than 80% its U.S. business.

CEO Gina Boswell said Bath & Body Works was “capitalizing on our agile business model and predominantly U.S.-based supply chain, and we believe we are well-positioned to navigate a volatile retail environment and shorter holiday calendar.”

The company’s revised full-year adjusted EPS is now $3.15 to $2.28, as opposed to the earlier guidance range of $3.06 – $3.26. The company expects its revenue to drop between 1.7% and 2.5% compared to the earlier expectation of a decline of 2.0% to 40%.

Despite today’s gains, shares of Bath & Body Works remain lower year-to-date.

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