Bath & Body Works beat Wall Street forecast on each the highest and bottom lines on Thursday.

The corporate reported net sales of nearly $1.4 billion for the primary quarter ended April 29, a decrease of 4 percent in comparison with the identical period a 12 months earlier, but above analysts’ expectations.

Net income was $81 million, down from $155 million, the corporate said. Adjusted earnings per diluted share got here in at 33 cents for the primary quarter, down from 64 cents a 12 months ago, but additionally beating analyst forecasts of 26 cents.

Bath & Body Works updated its full-year forecast to reflect better-than-expected bottom line results and the impact of the gain on the early extinguishment of debt in the primary quarter. It now expects full-year earnings per diluted share to be between $2.70 and $3.10, in comparison with $3.40 in 2022. It had previously forecast $2.50 to $3.

“We delivered first quarter sales in step with our expectations while our EPS was higher than anticipated as we saw advantages from our work to enhance merchandise margin in addition to early advantages from our cost optimization initiatives,” Gina Boswell, chief executive officer of Bath & Body Works, said.

“Looking forward, we’re moving quickly and implementing our plans to profitably grow sales and drive long-term value for our shareholders. I remain excited in regards to the opportunities ahead, and I’m confident that the long run is vivid for Bath & Body Works,” she added.

The corporate was formed a 12 months before that in August 2021, when the previous L Brands split into two entities: Victoria’s Secret and Bath & Body Works. Each company trades individually on the Latest York Stock Exchange. Bath & Body Works was number 11 on WWD Beauty Inc’s most up-to-date Top 100 Beauty Manufacturers list, with $4.6 billion in sales for calendar 2022.