Bath & Body Works has announced a 3% increase in net sales for the third quarter of 2024, reaching a total of $1.6 billion. The earnings per diluted share for this period were $0.49, surpassing the anticipated figures.
During the quarter that concluded on November 2, 2024, the company witnessed a rise in net sales from the previous year’s $1.56 billion to the current $1.6 billion. Although the earnings per share were $0.49 this year, they slightly decreased from $0.52 recorded in Q3 of the previous year. After adjusting for an extraordinary $12 million gain from debt extinguishment, last year’s adjusted earnings per share were at $0.48.
CEO Gina Boswell attributed the company’s robust performance to its emphasis on innovation within its core product lines, forming strategic partnerships, and bolstering digital marketing strategies. Furthermore, the establishment of a U.S.-based supply chain has equipped Bath & Body Works with the flexibility to navigate the complexities of the retail sector effectively.