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Bath & Body Works Bath & Body Works Reports Third Quarter 2021 Earnings Results and Provides Fourth Quarter Guidance November 17 , 2021 COLUMBUS , Ohio , Nov. 17 , 2021 ( GLOBE NEWSWIRE ) third quarter earnings results . -- Bath & Body Works , Inc. ( formerly known as L Brands , Inc. ) ( NYSE : BBWI ) today reported The company reported net sales of $ 1.681 billion for the third quarter ended Oct. 30 , 2021 , compared to net sales of $ 1.702 billion for the third quarter ended Oct. 31 , 2020. Sales for the third quarter of 2021 increased 53 percent compared to sales of $ 1.099 billion in 2019 . Reported earnings per share from continuing operations for the third quarter ended Oct. 30 , 2021 , were $ 0.66 compared to $ 0.69 for the quarter ended Oct. 31 , 2020. Third quarter operating income from continuing operations was $ 408.5 million compared to $ 436.1 million last year , and net income from continuing operations was $ 177.1 million compared to $ 196.1 million last year . Reported results from continuing operations above include a 2021 pre - tax loss of $ 89.1 million ( $ 0.25 per share ) and a 2020 pre - tax loss of $ 52.7 million ( $ 0.14 per share ) on the early extinguishment of debt . Excluding the losses on the early extinguishment of debt in both years , adjusted third quarter earnings per share from continuing operations were $ 0.92 compared to $ 0.83 last year , operating income from continuing operations was $ 408.5 million compared to $ 436.1 million last year , and adjusted net income from continuing operations was $ 244.8 million compared to $ 236.2 million last year . At the conclusion of this press release is a reconciliation of reported - to - adjusted results . Andrew Meslow , CEO of Bath & Body Works , stated , “ In our first quarter as a standalone business , Bath & Body Works continued our positive momentum . We achieved third quarter results that exceeded our expectations , with a net sales increase of 53 percent and an adjusted earnings per share from continuing operations increase of 360 percent compared to the third quarter of 2019. This performance was driven by ongoing strong customer response to our merchandise assortment , a growing , loyal customer base and the exceptional efforts of our associates . As we head into the important Holiday season , our mostly domestic supply chain and market leadership in key categories position us well to deliver continued growth . " As previously disclosed , the spin - off of the company's former Victoria's Secret business into a new , independent , publicly traded company , Victoria's Secret & Co. , was completed on Aug. 2 , 2021. The results of the Victoria's Secret business through Aug. 2 , 2021 , and the costs related to the spin - off are presented as discontinued operations separate from the company's continuing operations for all periods presented . Fourth Quarter 2021 Outlook The company is forecasting fourth quarter earnings per share between $ 2.10 and $ 2.25 , compared to earnings per share from continuing operations of $ 1.96 in 2020 and $ 1.41 in 2019 . Additional third quarter financial information , including management commentary , is currently available at www.BBWInc.com . Bath & Body Works , Inc. will conduct its third quarter earnings call at 9 a.m. Eastern on Nov. 18. To listen , call 1.888.946.7609 ( international dial - in number : 1.517.308.9411 ) ; conference ID 6362067. For an audio replay , call 1.866.360.3307 ( international replay number : 1.203.369.0162 ) ; conference ID 6362067 or log onto www.BBWInc.com . ABOUT BATH & BODY WORKS : Bath & Body Works is one of the world's leading specialty retailers and home to America's Favorite Fragrances® offering a breadth of exclusive fragrances for the body and home , including the # 1 selling collections for fine fragrance mist , body lotion and body cream , 3 - wick candles , home fragrance diffusers and liquid hand soap . For more than 30 years , customers have looked to Bath & Body Works for quality , on - trend products and the newest , freshest fragrances . Today , these fragrant products can be purchased at more than 1,750 company - operated Bath & Body Works locations in the U.S. and Canada , and more than 300 international franchised locations , as well as on bathandbodyworks.com . Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward - looking statements ( as such term is defined in the Private Securities Litigation Reform Act of 1995 ) contained in this press release or made by our company or our management involve risks and uncertainties and are subject to change based on various factors , many of which are beyond our control . Accordingly , our future performance and financial results may differ materially from those expressed or implied in any such forward - looking statements . Words such as " estimate , " " project , " " plan , " " believe , " " expect , " " anticipate , " " intend , " " planned , " " potential " and any similar expressions may identify forward - looking statements . Risks associated with the following factors , among others , in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward - looking statements included in this press release or otherwise made by our company or our management : • the spin - off of Victoria's Secret may not be tax - free for U.S. federal income tax purposes ; • a loss of synergies from separating the businesses that could negatively impact the balance sheet , profit margins or earnings of Bath & Body Works or that Bath & Body Works does not realize all of the expected benefits of the spin - off ; • general economic conditions , inflation , consumer confidence , consumer spending patterns and market disruptions including pandemics or significant health hazards , severe weather conditions , natural disasters , terrorist activities , financial crises , political crises or other major events , or the prospect of these events ; • the novel coronavirus ( COVID - 19 ) global pandemic has had and is expected to continue to have an adverse effect on our business and results of operations ;