THE WHAT? Tub & Physique Works has reported its outcomes for the second quarter of 2023. The US retailer reported internet gross sales of US$1.559 billion, down 3.6 % on the equal interval final yr. Earnings per diluted share stood at US$0.43, in comparison with US$0.52 for a similar quarter final yr.
THE DETAILS The corporate up to date its full-year forecast to mirror the better-than-expected backside line outcomes. Tub & Physique Works is now forecasting full-year 2023 EPS to be between US$2.85 and US$3.15 and internet gross sales to say no within the area of 1.5 % to three.5 %.
THE WHY? Gina Boswell, CEO of Tub & Physique Works, commented, “We delivered internet gross sales in keeping with our expectations, and the early advantages of our price optimization and merchandise margin enchancment initiatives helped drive earnings which outperformed our expectations. Our workforce remained agile in response to the dynamic macroeconomic setting with a deal with delivering innovation and constructing capabilities to place our firm for topline progress and margin growth.”
