Bath & Body Works Inc

-1.01 (-3.00%)
Layoffs, Restructuring / Reorganization, Other Pre-Announcement

Bath & Body Works Says It Is Pursuing Number Of Initiatives To Improve Financial Performance

Published: 08/17/2022 20:26 GMT
Bath & Body Works Inc (BBWI) - Bath & Body Works Reports Second Quarter Sales and Earnings Results.
Sees Q3 Earnings per Share $0.10 to $0.20 From Continuing Operations.
Q2 Earnings per Share $0.52 From Continuing Operations.
Q2 Sales Fell 5 Percent to $1.62 Billion.
For Fiscal 2022, Company is Forecasting Earnings From Continuing Operations per Diluted Share Between $2.70 and $ is Pursuing a Number of Initiatives to Improve Financial Performance.
Recently Simplified and Realigned Its Operating Structure.
Initiatives Include Organizational Changes, Additional Cost Control Actions and Merchandise Margin Improvement Opportunities.
Actions Included Elimination of About 130 Roles, Majority of Which Were Leadership Positions.
Expects to Record Severance and Other Charges of Approximately $6 Million in Q3 of 2022 Related to Organizational Actions.
Actions Are Expected to Result in Estimated Savings of Approximately $30 Million in Second Half of 2022.
Q2 Earnings per Share View $0.44, Revenue View $1.61 Billion -- Refinitiv Ibes Data (analyst estimates).
FY2022 Earnings per Share View $4.50 -- Refinitiv Ibes Data (analyst estimates).