Bath & Body Works, Inc. (BBWI) Form 8-K — Aug 26, 2026
Bath & Body Works reported second quarter 2026 net sales of $1,514 million, down 2.3% year over year, with diluted EPS of $0.58 versus $0.30 and adjusted EPS of $0.62 versus $0.37, exceeding its sales and EPS guidance. Net income rose to $118 million from $64 million and operating income to $216 million from $157 million. The beat was flattered by approximately $80 million of tariff refunds received in the quarter; excluding that benefit, second quarter adjusted EPS would have been $0.31 versus $0.37 a year earlier.
Key figures
- Eps
- 0.58
- Revenue
- $1,514 million
- Guidance
- FY2026 net sales decline 4% to 2.5% (vs $7,291M in FY2025); FY2026 EPS $3.13-$3.33; FY2026 adjusted EPS $2.60-$2.80; Q3 net sales decline 5% to 2.5%; Q3 EPS $0.05-$0.10; Q3 adjusted EPS $0.07-$0.12; free cash flow ~$650 million; no share repurchases assumed
- Net Income
- $118 million
- Total Debt
- $3,614 million ($248M current + $3,366M long-term)
- Revenue Yoy
- -2.3%
- Total Assets
- $5,156 million
- Cash Position
- $794 million
- Adjusted EPS
- 0.62
- Gross Profit
- $692 million (vs $640 million prior year)
- Operating Income
- $216 million (vs $157 million prior year)
- Store Sales Change
- -5.4%
- Direct Sales Change
- +3.0% (first direct net sales growth since 2021)
- Ex Refund Adjusted EPS
- 0.31
- Tariff Refund Benefit
- approximately $80 million
- Free Cash Flow Forecast
- $650 million ($890M operating cash flow less $240M capex)
- Prior Year Adjusted EPS
- 0.37
- Company Operated Stores
- 1937
- Weighted Diluted Shares
- 202
- Adjusted Operating Income
- $225 million (vs $172 million prior year)
- International Sales Change
- +24.9%
- Stockholder Equity Deficit
- -$1,054 million
Price after filing
Close on the filing date to close N calendar days later (from $17.58). Historical, not a forecast.
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