Bath & Body Works, Inc. · NYSE:BBWI
Bath & Body Works — Q3 2021 Earnings Presentation
17 slides from Bath & Body Works's earnings presentation, Nov 18, 2021
Slide 1: Third Quarter Earnings Presentation
Third Quarter Earnings Presentation November 17, 2021
Slide 2: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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 management involve risks and
Slide 3: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 o delays or disruptions in shipping and transportation and related pricing impacts; o disruption due to labor disputes; and o changing expectations regarding product safety due to new legislation; • our geographic conce
Slide 4: Adjusted Consolidated Statements of Income from Continuing Operations: Thirteen Weeks
BATH & BODY WORKS, INC. ADJUSTED CONSOLIDATED STATEMENTS OF INCOME FROM CONTINUING OPERATIONS THIRTEEN WEEKS ENDED OCTOBER 30, 2021 AND OCTOBER 31, 2020 (Unaudited) (Dollars in millions except per share amounts) % Increase Increase 2021 2020 (Decrease) (Decrease) Net Sales $ 1,680.9 $ 1,702.2 $ (21.
Slide 5: Adjusted Consolidated Statements of Income from Continuing Operations: Thirty-Nine Weeks
BATH & BODY WORKS, INC. ADJUSTED CONSOLIDATED STATEMENTS OF INCOME FROM CONTINUING OPERATIONS THIRTY-NINE WEEKS ENDED OCTOBER 30, 2021 AND OCTOBER 31, 2020 (Unaudited) (Dollars in millions except per share amounts) % Increase Increase 2021 2020 (Decrease) (Decrease) Net Sales $ 4,854.1 $ 3,715.9 $ 1
Slide 6: Consolidated Condensed Balance Sheets (Unaudited)
BATH & BODY WORKS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In thousands) October 30, 2021 October 31, 2020 ASSETS Current Assets Cash and Cash Equivalents $ 1,441,424 $ 2,432,992 Accounts Receivable, Net 242,243 161,493 Inventories 1,149,336 883,458 Other 152,451 71,226 Current Asset
Slide 7: 2021 Outlook as of November 17, 2021
Bath & Body Works, Inc. 2021 Outlook as of November 17, 2021 Metric Fourth Quarter Net Sales Up in the mid- to high-single digit percentage range compared to LY Gross Margin Rate Down significantly compared to 51.7% LY SG&A Expense Dollars Up in the low-single digit percentage range compared to $537
Slide 8: Company-Operated Store Count and Selling Sq Ft
BATH & BODY WORKS, INC. COMPANY - OPERATED STORE COUNT AND SELLING SQ FT 2021 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 1,633 53 (40) 74 1,646 13 1% Selling Sq Ft 000's 4,34
Slide 9: Bath & Body Works International Store Count 2021 Forecast
BATH & BODY WORKS, INC. INTERNATIONAL STORE COUNT 2021 FORECAST 2020 2021 2021 2021F Year End New Stores Closures Year End Bath & Body Works International Partner - Operated Stores International 270 56 to 58 (8 to 9) 317 to 320 International - Travel Retail 18 3 to 7 (0 to 1) 20 to 25 Total Internat
Slide 10: Appendix
APPENDIX 10
Slide 11: Consolidated Statements of Income (Loss) Thirteen Weeks Ended October
BATH & BODY WORKS, INC. CONSOLIDATED STATEMENTS OF INCOME (LOSS) THIRTEEN WEEKS ENDED OCTOBER 30, 2021 AND OCTOBER 31, 2020 (Unaudited) (In thousands except per share amounts) 2021 2020 Net Sales $ 1,680,905 $ 1,702,176 Costs of Goods Sold, Buying and Occupancy (842,149) (839,471) Gross Profit 838,7
Slide 12: Consolidated Statements of Income (Loss) Thirty-Nine Weeks Ended October
BATH & BODY WORKS, INC. CONSOLIDATED STATEMENTS OF INCOME (LOSS) THIRTY-NINE WEEKS ENDED OCTOBER 30, 2021 AND OCTOBER 31, 2020 (Unaudited) (In thousands except per share amounts) 2021 2020 Net Sales $ 4,854,110 $ 3,715,910 Costs of Goods Sold, Buying and Occupancy (2,445,187) (2,026,491) Gross Profi
Slide 13: Adjusted Financial Information from Continuing Operations: Thirteen Weeks
BATH & BODY WORKS, INC. ADJUSTED FINANCIAL INFORMATION FROM CONTINUING OPERATIONS THIRTEEN WEEKS ENDED OCTOBER 30, 2021 AND OCTOBER 31, 2020 (Unaudited) (In thousands except per share amounts) 2021 2020 Reported Adjusted Reported Adjusted Cont. Operations Adjustments Cont. Operations Cont. Operation
Slide 14: Adjusted Financial Information from Continuing Operations: Thirty-Nine Weeks
BATH & BODY WORKS, INC. ADJUSTED FINANCIAL INFORMATION FROM CONTINUING OPERATIONS THIRTY-NINE WEEKS ENDED OCTOBER 30, 2021 AND OCTOBER 31, 2020 (Unaudited) (In thousands except per share amounts) 2021 2020 Reported Adjusted Reported Adjusted Cont. Operations Adjustments Cont. Operations Cont. Operat
Slide 15: Notes to Reconciliation of GAAP Financial Measures to Non-GAAP
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 2021 In the third quarter of 2021,
Slide 16: Company-Operated Stores and Selling Square Footage
BATH & BODY WORKS, INC. COMPANY - OPERATED STORES AND SELLING SQUARE FOOTAGE At October 30, 2021 and October 31, 2020 October 30, 2021 October 31, 2020 Selling Selling Stores Sq. Ft. (000's) Stores Sq. Ft. (000's) Bath & Body Works U.S. 1,672 4,514 1,643 4,360 Bath & Body Works Canada 103 267 103 26
Slide 17: 2021 Selected Data (Unaudited)
BATH & BODY WORKS, INC. 2021 Selected Data (Unaudited) (In thousands) 2021 2020 Capital Expenditures First Quarter $ 45,242 $ 27,962 Second Quarter 66,524 25,667 Spring Season 111,766 53,629 Third Quarter 64,780 35,056 Fourth Quarter - 12,367 Year $ 176,546 $ 101,052 Depreciation & Amortization Firs