Bath & Body Works, Inc.(NYSE:BBWI) shares popped after the retailer flexed a solid profit beat, even as sales slid and the core U.S.-Canada business stayed soft.
Management is leaning hard into a “Consumer First” reset, speeding up innovation, widening distribution, and pushing into Amazon.com, Inc. (NASDAQ:AMZN), but its outlook still reads cautious.
The company reported fourth-quarter adjusted earnings per share of $2.05. Quarterly sales of $2.724 billion (down 2% year over year) outpaced the Street view of $1.336 billion.
Segment Performance
- Stores – U.S. & Canada: Sales declined 2.6% year over year to $2.05 billion.
- Direct – U.S. & Canada: Revenue fell 2.5% year over year to $579 million.
- International: Sales increased 8.6% year over year to $91 million.
Quarterly Analysis
Quarterly gross profit …