SOPA Images / Getty Images
Bath & Body Works $BBWI -0.17% reported first-quarter net sales of $1.38 billion on Wednesday, topping analyst expectations and sending its stock up 14% in premarket trading.
Adjusted earnings came in at 32 cents per share for the period ending May 2, surpassing the 29-cent consensus forecast tracked by Zacks Investment Research, as reported by The Associated Press. Quarterly revenue of $1.38 billion also came in ahead of the $1.36 billion that analysts had anticipated, according to The Associated Press.
On a reported basis, earnings per diluted share were 90 cents, compared with 49 cents in the same period a year ago. Net income rose to $183 million from $105 million. Net sales declined 3% from $1.42 billion in the year-earlier quarter, the company said.
The reported figures included an $88 million pretax gain from settlements of payment card interchange fee litigation, a $62 million tax benefit from the resolution of certain tax matters, and aggregate costs of $8 million tied to business transformation activities, the company said.
