Bath & Body Works FY24 Outlook: Revenue $7.20B - $7.43B Vs. $7.45B Estimate, $3.00 - $3.35 Vs. $3.34 Estimate
Portfolio Pulse from Benzinga Newsdesk
Bath & Body Works projects FY24 revenue to be between $7.20B and $7.43B, slightly below the $7.45B estimate, and EPS to range from $3.00 to $3.35, near the $3.34 estimate. The forecast includes a decline of up to 3% from FY23's $7.429B in net sales, partly due to the extra week in FY23. The company plans to spend approximately $300 million on share repurchases.
February 29, 2024 | 12:08 pm
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Bath & Body Works expects FY24 revenue to fall short of estimates at $7.20B-$7.43B and EPS to be $3.00-$3.35, with $300M allocated for share repurchases.
The projected revenue and EPS for FY24 are slightly below market expectations, which could lead to negative investor sentiment in the short term. However, the planned share repurchases might offset some of the negative impact by signaling company confidence and potentially reducing share supply.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100