Bath & Body Works, Inc. · NYSE:BBWI
Bath & Body Works — Q1 2023 Earnings Presentation
9 slides from Bath & Body Works's earnings presentation, May 18, 2023
Slide 1: First Quarter Earnings Supplemental Material
First Quarter Earnings Supplemental Material May 18, 2023
Slide 2: Forward-Looking Statements
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 ma
Slide 3: Forward-Looking Statements
Forward-Looking Statements • our geographic concentration of vendor and distribution facilities in central Ohio; • stock price volatility; • our reliance on a limited number of suppliers to support a substantial portion of our inventory • our ability to pay dividends and make share repurchases under
Slide 4: 2023 Outlook as of May 18, 2023
2023 Outlook as of May 18, 2023 Metric Second Quarter 2023 Full-Year 2023 Sales Down low- to mid-single digits Flat to down mid-single digits Gross Profit Rate Approximately 39% Approximately 42% SG&A Expense Rate Approximately 28% Approximately 26% Net Non-Operating Expense Approximately $75 millio
Slide 5: Adjusted Forecasted Financial Information
Adjusted Forecasted Financial Information $ in millions, except per share amounts Full-Year 2023 Reconciliation of Forecasted Net Non-Operating Expense to Adjusted Forecasted Net Non-Operating Expense Forecasted Net Non-Operating Expense $303 Gain on Extinguishment of Debt 7 Adjusted Forecasted Net
Slide 6: 2023 v 2022 General, Administrative and Store Operating Expenses Summary
2023 v 2022 General, Administrative and Store Operating Expenses Summary $ in millions 2023 Q1 $s % of Net Sales Selling Expenses $ 243 17.4% Home Office & Marketing Expenses 172 12.3% Total $ 415 29.7% Net Sales $ 1,396 2022 Q1 $s % of Net Sales Selling Expenses $ 245 16.9% Home Office & Marketing
Slide 7: Company-Operated Store Count and Selling Square Feet
Company-Operated Store Count and Selling Square Feet April 29, 2023 April 30, 2022 Selling Selling Stores Sq. Ft. (000's) Stores Sq. Ft. (000's) Bath & Body Works U.S. 1,701 4,744 1,655 4,510 Bath & Body Works Canada 109 298 104 270 Total Bath & Body Works Company - Operated 1,810 5,042 1,759 4,780
Slide 8: Company-Operated Store Count and Selling Square Feet – 2023 Forecast
Company-Operated Store Count and Selling Square Feet – 2023 Forecast Total Beginning of Reconstructions New Stores Closures End of Year Increase Year and Change in SSF Bath & Body Works Bath & Body Works - U.S. Store Count 1,693 92 (39) to (49) 22 1,736 to 1,746 43 to 53 3% Selling Sq Ft 000's 4,712
Slide 9: International Store Count – 2023 Forecast
International Store Count – 2023 Forecast Beginning End of Year New Stores Closures of Year Bath & Body Works International Partner - Operated Stores International 401 60 to 73 (3 to 6) 455 to 471 International - Travel Retail 26 0 to 3 (0 to 1) 25 to 29 Total International 427 60 to 76 (3 to 7) 480