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Bath & Body Works Beat Earnings, But The Brand Still Looks Bruised!

Bath & Body Works Sales Fall Amid Turnaround Efforts would be the clean headline from the latest quarter, but the story underneath is more interesting than a routine retail slowdown. The retailer also said its chief financial officer was stepping down to join pharmaceutical-distribution company Cencora, adding a leadership transition to an already delicate brand reset. First-quarter net sales fell about 3% to roughly $1.38 billion, while adjusted earnings of $0.32 per share came in ahead of Wall Street expectations. Net income rose to $183 million, but that included benefits from litigation settlements and tax matters, making the underlying picture less straightforward. Management reiterated full-year guidance for sales to decline 2.5% to 4.5% and adjusted EPS of $2.40 to $2.65, while Q2 sales are expected to fall 3% to 5%.