Barclays analyst Adrienne Yih downgraded Bath & Body Works Inc BBWI from Equal-Weight to Underweight and lowered the price target from $31 to $28. The stock fell after the rerating.Yih cited concerns over supply and demand risks that could negatively impact the company over the next 12 to 15 months.While the guidance for the second half of 2024 has been adjusted to lower expectations, the analyst anticipates continued pressure in 2025 with potential declines in sales and contracting margins.Her analysis poi ...

文章核心观点 - 两家S&P 500指数成分股公司Nike和Bath & Body Works近期股价下跌,但仍有望带来可观的投资收益[1] - Nike虽然面临一些挑战,但仍拥有强大的品牌优势和行业领先地位,有望长期获得良好表现[2][3] - Bath & Body Works虽然近期业绩平平,但其高利润率和丰厚的现金流使其股价估值较低,有望获得较高的股息收益和未来的资本增值[4][5][6] 行业和公司总结 Nike - 公司在中国市场的增长预期不佳,同时面临美欧市场竞争加剧和零售渠道关店等挑战,导致短期业绩下滑[2] - 但公司仍拥有全球最强大的品牌之一,以及行业领先的基础设施和分销优势,有望长期保持良好表现[3] - 公司股息增长迅速,过去10年增长164%,未来有望继续保持较高增速[3] Bath & Body Works - 公司专注于个人护理和家居用品业务,近年来销售表现平稳[4] - 公司利润率和现金流较强,但股价估值较低,目前市盈率仅7.7倍,远低于同行[5] - 公司股息收益率达2.7%,远高于S&P 500平均水平1.5%[4] - 分析师普遍看好公司前景,目标价较当前高48%[5] - 做空头寸较少,仅占流通股4.1%,远低于同行[6]

COLUMBUS, Ohio, Sept. 25, 2024 /PRNewswire/ -- Bath & Body Works, Inc. (NYSE: BBWI) (the "Company") today announced that the Company and Julie Rosen, President, Retail of Bath & Body Works, have mutually agreed Ms. Rosen will step down from her role, effective immediately. Ms. Rosen will be available in an advisory capacity to ensure a smooth transition.In conjunction with this decision, the Company has eliminated the role of President, Retail, and largely all functions which previously reported to Ms. Rose ...

I am an individual value investor pursuing a bachelor's degree in Finance at Florida State University with the goal of attaining my CFA. I have a distinct passion for equity research and fundamental analysis. Regarding my approach, I have been highly influenced by Tom Hayes, Founder, Chairman and Managing Member of Great Hill Capital, LLC.My approach to stocks is quite simple. Find fantastic companies that are selling below their intrinsic value. Look for durable, sustainable, wide moat businesses that are ...

New Roles in Stores and Distributions Centers across US, Canada and Puerto Rico  COLUMBUS, Ohio, Sept. 12, 2024 /PRNewswire/ -- Bath and Body Works will hire 30,000 new seasonal associates at its more than 1,800 stores in the US, Canada and Puerto Rico and 2,700 distribution center associates for its four central Ohio distribution centers.  As a retailer focused on delivering a best-in-class shopping experience through convenience, service and a selection of high-quality fragrances at the right price points ...

Brett_Hondow Hey there, Seeking Alpha readers! In this article, I examine an undervalued company with a narrow economic moat in the retail space. I think it at least deserves a look - or perhaps I should say a sniff! That company is Bath & Body Works, Inc. (NYSE:BBWI). About Bath & Body Works Bath & Body Works is more than a retailer; it's a brand that has woven itself into the fabric of our lives and is known by almost anyone in North America. But what truly sets Bath & Body Works apart is its product port ...

Brett_Hondow Summary I am neutral on Bath & Body Works Inc. (NYSE:BBWI). My summarized thesis is that the near-term outlook is bleak with no positive catalysts that I foresee will drive a strong growth recovery. The reason I am not assigning a sell rating to the stock is because valuation has already suffered greatly, dropping from 14x to 8x forward PE in just two months. At 8x, it is at the low end of BBWI 10-year trading history, suggesting little room for further decline. Company overview BBWI is a s ...

Bath & Body Works, Inc. BBWI reported worse-than-expected second-quarter sales results and issued FY24 adjusted EPS guidance with its midpoint below estimates. Also, the company issued third-quarter EPS guidance below estimates.The company reported the second quarter adjusted earnings per share of 37 cents, beating the analyst consensus of 36 cents. Quarterly sales of $1.526 billion (down 2.1%) missed the street view of $1.543 billion."We are leveraging our agile business model to navigate the dynamic retai ...

It’s been a tough year for Bath & Body Works NYSE: BBWI. So far, in 2024, the home fragrance, body care, and soap retailer founded in Columbus, Ohio, has seen its shares fall around 24%. That is in stark contrast to the modestly growing but still positive consumer discretionary sector. The Consumer Discretionary Select Sector SPDR Fund NYSEARCA: XLY is up around 4% this year.Bath & Body Works TodayBBWIBath & Body Works$32.28 -2.44 (-7.03%) 52-Week Range$27.30▼$52.99Dividend Yield2.48%P/E Ratio8.32Price Targ ...

财务表现 - 2024年第二季度合并净销售额为15.26亿美元，同比下降2.1%[65] - 2024年第二季度营业利润为1.83亿美元，同比下降3%[65] - 2024年累计净销售额下降4500万美元,下降1.5%,达到29.10亿美元[79] - 毛利润增加1500万美元至12.33亿美元,毛利率从41.2%提升至42.4%[79] - 销售费用增加1200万美元,占净销售额的17.5%,较上年增加0.7个百分点[80] - 总经营费用增加1400万美元,占净销售额的29.6%,较上年增加0.9个百分点[81] - 利息费用下降1600万美元至1.59亿美元,主要由于平均每日借款减少[82,83] - 其他收入增加1600万美元至6100万美元,主要由于出售Easton投资产生3900万美元收益[84] - 所得税有效税率从24.7%下降至12.1%,主要由于出售Easton投资导致递延税资产估值准备转回[85] 成本优化 - 公司正在通过成本优化计划实现每年2.8亿美元的成本节约，其中2023财年实现1.5亿美元，2024财年预计再实现1.3亿美元[66] 未来展望 - 公司预计下半年将继续面临压力，但将专注于精准执行、为客户带来新产品以及发挥自身的价值主张[67] - 公司将继续投资于产品和营销以提升客户价值，并投资于基础工具和系统以提升客户参与度和购物体验[67] 渠道表现 - 2024年第二季度直销渠道净销售额下降9.7%，主要由于客户选择门店自提服务以及网站流量下降[73] - 2024年第二季度国际业务净销售额增长2.2%，主要由于产品发货量增加[73] 毛利率及费用 - 2024年第二季度毛利率为41.0%，同比提升110个基点，主要由于商品毛利率提升和采购及租金成本下降[74] - 2024年第二季度一般、行政及门店运营费用率为29.1%，同比上升130个基点，主要由于营销投入增加和员工工资上涨[74] 资本支出及股票回购 - 公司计划2024年资本支出为2.5亿美元,主要用于门店投资和技术升级[90] - 公司在2024年累计回购5763万股股票,总金额为2.49亿美元[93,94] - 公司在2024年8月宣布了第三季度2024年普通股股息为每股0.20美元[98] - 公司在2024年第二季度和2024年年初至今分别回购并偿还了9100万美元和2亿美元的优先票据本金[99] 财务状况 - 公司在2024年8月3日的可用ABL信贷额度为6.51亿美元[101] - 公司在2024年8月3日的信用评级为Moody's Ba2和S&P BB[101] - 公司在2024年年初至今的净销售额为27.67亿美元[105] - 公司在2024年年初至今的净收入为1.64亿美元[105] - 公司在2024年8月3日和2024年2月3日的流动资产分别为20.13亿美元和25.45亿美元[103] - 公司在2024年8月3日和2024年2月3日的非流动资产分别为25.16亿美元和25.54亿美元[103] - 公司在2024年8月3日和2024年2月3日的流动负债分别为27.12亿美元和29.35亿美元[103] - 公司在2024年8月3日和2024年2月3日的非流动负债分别为50.20亿美元和56.50亿美元[103] 风险管理 - 公司投资组合主要由短期利息收益工具组成，主要目标是保本、维持流动性和最大化利息收益[111] - 公司截至2024年8月3日的所有未偿债务均为固定利率[111] - 公司定期调整利率风险敞口，通过利率互换安排来限制利率变动的影响[111] - 公司认为账面值与公允价值接近，因为到期期限较短[113] - 公司维持与多家主要金融机构的现金及衍生工具交易，并限制单一实体的信用风险敞口[113] - 公司的投资组合主要由美国政府债券、美国国库券和AAA级货币市场基金、商业票据和银行存款组成[113] 法律合规 - 公司管理层认为当前法律诉讼不会对经营业绩、财务状况或现金流产生重大不利影响[114] - 公司已就两起有关信用卡交易法案的集体诉讼达成和解,预计不会对经营产生重大不adverse影响[115] - 公司的披露控制和程序被评估为有效,可确保及时披露所需信息[113] - 公司在第二季度内部控制未发生重大变化,不会对内部控制产生重大影响[113]