Bath & Body Works may have beat Wall Street expectations on the top and bottom lines, but chief executive officer Daniel Heaf was not satisfied with first-quarter results.
Bath & Body Works’ first-quarter net sales came in at $1.4 billion, down 3 percent from a year earlier, but beat analysts’ expectations of $1.36 billion
Adjusted earnings per diluted share were 32 cents, up from expectations of 29 cents. More from WWD Bath & Body Works reaffirmed full-year 2026 guidance of net sales down 4.5 percent to down 2.5 percent, earnings per diluted share of $3 to $3.25, and adjusted earnings per diluted share of $2.40 to $2.65. It also said that chief financial officer Eva Boratto would step down June 12.
Tom Javitch has been appointed interim CFO, effective upon Boratto’s departure, while the company initiates a search process. Javitch has been with Bath & Body Works for more than 16 years and former parent L Brands for 25 years, holding a number of senior finance leadership roles across the organization. The company’s stock rose by more than 12 percent to $20.03 in midday trading Wednesday on the back of the earnings report.