Bath & Body Works tops quarterly estimates as demand for affordable luxury holds up
Consumer demand for lower-cost indulgences is supporting Bath & Body Works even as broader spending shows signs of softness. The retailer also keeps its full-year outlook unchanged while expanding distribution and preparing for a finance leadership transition.
Highlights
- Bath & Body Works reports first-quarter sales of $1.38 billion and adjusted profit of 32 cents per share, beating LSEG estimates.
- Shares rise 14% premarket after the company announces CFO Eva Boratto will step down, with Tom Javitch becoming interim CFO on June 12.
- Resilient demand for affordable luxury supports full-year net sales and profit outlooks, with continued momentum through Amazon and core personal care categories.
Quarterly performance and management changes
As reported by Reuters, Bath & Body Works exceeds Wall Street estimates for first-quarter sales and profit, helped by resilient demand for scented candles and personal care products. Its shares rise 14% in premarket trading after the update.The Ohio-based company posts first-quarter sales of $1.38 billion, above analysts' estimates of $1.36 billion, according to data compiled by LSEG. It reports adjusted profit of 32 cents per share for the quarter ended May 2, ahead of expectations for 29 cents per share.
Bath & Body Works also says Eva Boratto will step down as chief financial officer, with Tom Javitch set to become interim CFO effective June 12. Boratto has been appointed chief financial officer at drug distributor Cencora.
Affordable luxury demand supports outlook
The company says demand for its products remains resilient despite wider consumer softness, as shoppers continue to spend on home fragrances and self-care items seen as affordable luxuries. That pattern reflects a modest lipstick effect that continues to support Bath & Body Works' core categories.Since February, Bath & Body Works has begun selling its products through Amazon as it seeks to capture demand from affluent younger customers. The company maintains its full-year forecasts for net sales and adjusted profit, suggesting it expects current demand trends to continue.
Our earlier article covered Amazon’s plan to invest more than £15 billion in the UK in 2025 as part of a broader £40 billion commitment through 2027, spanning new operational sites, expanded studio capacity, additional office space and a drone delivery trial. It also highlighted the scale of Amazon’s UK footprint in revenue, taxes paid and employment, underscoring why the UK remains a strategically important market for the company.
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