Bath & Body Works Q3 sales up 3% to $1.61B; $300M cost program on track, buybacks continue

Filed November 26, 2024 · Period ending November 2, 2024 · ~1 min read

Key Changes

• high

  Q3 net sales rose 3% to $1.61B on new store growth and calendar shift, but operating income flat at $218M (13.5% margin) as promotional activity offset cost savings.

  MD&A: Q3 2024 Results verify on EDGAR →
• high

  Company raised cost-savings target to $300M annually, delivered $115M year-to-date, and expects another $150M by year-end to protect margins amid promotional environment.

  MD&A: Cost Optimization verify on EDGAR →
• high

  Deployed $550M year-to-date on debt paydown ($200M) and share buybacks ($348M for 9M shares), while opening 76 stores net of 41 closures to reach 1,885 locations.

  MD&A: Capital Allocation & Store Growth verify on EDGAR →