Bath & Body Works, Inc. · NYSE:BBWI
Bath & Body Works — Q2 2022 Earnings Presentation
16 slides from Bath & Body Works's earnings presentation, Aug 18, 2022
Slide 1: Second Quarter Earnings Presentation
Second Quarter Earnings Presentation August 17, 2022
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
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: Consolidated Statements of Income from Continuing Operations, Thirteen Weeks
BATH & BODY WORKS, INC. CONSOLIDATED STATEMENTS OF INCOME FROM CONTINUING OPERATIONS THIRTEEN WEEKS ENDED JULY 30, 2022 AND JULY 31, 2021 (Unaudited) (Dollars in millions except per share amounts) % 2022 2021 Decrease Decrease Net Sales $ 1,617.5 $ 1,703.7 $ (86.2) -5% Gross Profit 659.4 828.4 (169.
Slide 5: Adjusted Consolidated Statements of Income, Twenty-Six Weeks
BATH & BODY WORKS, INC. ADJUSTED CONSOLIDATED STATEMENTS OF INCOME FROM CONTINUING OPERATIONS TWENTY-SIX WEEKS ENDED JULY 30, 2022 AND JULY 31, 2021 (Unaudited) (Dollars in millions except per share amounts) % 2022 2021 Decrease Decrease Net Sales $ 3,067.4 $ 3,173.2 $ (105.8) -3% Gross Profit 1,327
Slide 6: Consolidated Condensed Balance Sheets
BATH & BODY WORKS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In thousands) July 30, 2022 July 31, 2021 ASSETS Current Assets Cash and Cash Equivalents $ 451,891 $ 1,694,913 Accounts Receivable, Net 183,636 131,090 Inventories 970,630 728,404 Other 147,976 133,128 Current Assets of Disc
Slide 7: 2022 Outlook as of August 17, 2022
Bath & Body Works, Inc. 2022 Outlook as of August 17, 2022 Metric Third Quarter Full Year 2022 Sales Down mid- to high- single digits compared $1.681 billion LY Down mid- to high-single digits compared to $7.9 billion LY Gross Margin Rate Decrease by about 950 basis points, compared to 49.9% LY Appr
Slide 8: Company-Operated Store Count and Selling Sq Ft
BATH & BODY WORKS, INC. COMPANY - OPERATED STORE COUNT AND SELLING SQ FT 2022 Forecast Total Beginning of Reconstructions New Stores Closures End of Year Increase / (Decrease) Year and Change in SSF Bath & Body Works Bath & Body Works Store Count 1,651 94 (40) to (50) 40 1,695 to 1,705 44 to 54 3% S
Slide 9: International Store Count 2022 Forecast
BATH & BODY WORKS, INC. INTERNATIONAL STORE COUNT 2022 FORECAST 2021 2022 2022 2022F Year End New Stores Closures Year End Bath & Body Works International Partner - Operated Stores International 317 67 to 90 (3 to 5) 379 to 404 International - Travel Retail 21 2 to 5 (1 to 2) 21 to 25 Total Internat
Slide 10: Appendix
APPENDIX
Slide 11: Consolidated Statements of Income, Thirteen Weeks
BATH & BODY WORKS, INC. CONSOLIDATED STATEMENTS OF INCOME THIRTEEN WEEKS ENDED JULY 30, 2022 AND JULY 31, 2021 (Unaudited) (In thousands except per share amounts) 2022 2021 Net Sales $ 1,617,503 $ 1,703,726 Costs of Goods Sold, Buying and Occupancy (958,139) (875,348) Gross Profit 659,364 828,378 Ge
Slide 12: Consolidated Statements of Income, Twenty-Six Weeks
BATH & BODY WORKS, INC. CONSOLIDATED STATEMENTS OF INCOME TWENTY-SIX WEEKS ENDED JULY 30, 2022 AND JULY 31, 2021 (Unaudited) (In thousands except per share amounts) 2022 2021 Net Sales $ 3,067,413 $ 3,173,205 Costs of Goods Sold, Buying and Occupancy (1,739,473) (1,603,038) Gross Profit 1,327,940 1,
Slide 13: Adjusted Financial Information from Continuing Operations
BATH & BODY WORKS, INC. ADJUSTED FINANCIAL INFORMATION FROM CONTINUING OPERATIONS TWENTY-SIX WEEKS ENDED JULY 30, 2022 AND JULY 31, 2021 (Unaudited) (In thousands except per share amounts) 2022 2021 Reported Adjusted Reported Adjusted Cont. Operations Adjustments Cont. Operations Cont. Operations Ad
Slide 14: Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
BATH & BODY WORKS, INC. NOTES TO RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (Unaudited) The “Adjusted Financial Information from Continuing Operations” provided in the attached reflects the following non-GAAP financial measures: Fiscal 2022 In the first and second quart
Slide 15: Company-Operated Stores and Selling Square Footage
BATH & BODY WORKS, INC. COMPANY - OPERATED STORES AND SELLING SQUARE FOOTAGE At July 30, 2022 and July 31, 2021 July 30, 2022 July 31, 2021 Selling Selling Stores Sq. Ft. (000's) Stores Sq. Ft. (000's) Bath & Body Works U.S. 1,669 4,575 1,663 4,472 Bath & Body Works Canada 104 270 103 267 Total Bath
Slide 16: 2022 Selected Data
BATH & BODY WORKS, INC. 2022 Selected Data (Unaudited) (In thousands) 2022 2021 Capital Expenditures First Quarter $ 88,379 $ 45,242 Second Quarter 72,711 66,524 Spring Season 161,090 111,766 Third Quarter - 64,780 Fourth Quarter - 28,897 Year $ 161,090 $ 205,443 Depreciation & Amortization First Qu