Bath & Body Works Q1 Sales Drop 3% to $1.38B While EPS Climbs to $0.90
BBWI•Bath & Body Works posted Q1 net sales of $1.378 billion, down 3%, with GAAP EPS of $0.90 versus $0.49 year earlier and adjusted EPS of $0.32, including an $88 million litigation gain. The company reaffirmed FY26 guidance for a 2.5%-4.5% sales decline and $3.00-$3.25 EPS, appointing Tom Javitch interim CFO.
1. Q1 Financial Performance
The company posted first quarter net sales of $1,378 million, a 3% decrease year-over-year, while GAAP earnings per diluted share rose to $0.90 from $0.49. Operating income increased to $231 million versus $209 million last year, with adjusted operating income of $151 million and adjusted EPS of $0.32 after excluding litigation gains, transformation costs and other items.
2. Full-Year Guidance Maintained
Bath & Body Works reaffirmed its full-year 2026 outlook, forecasting net sales down 4.5% to 2.5% against $7.291 billion in 2025 and EPS of $3.00 to $3.25 with adjusted EPS of $2.40 to $2.65. The company expects roughly $600 million in free cash flow and sees Q2 net sales declining 5% to 3% with EPS of $0.20 to $0.25.
3. CFO Transition
Chief Financial Officer Eva Boratto will step down on June 12, 2026, and Tom Javitch—who has held senior finance roles at Bath & Body Works for 16 years—will serve as interim CFO. A search for a permanent successor is under way, led by a top executive search firm.
