Sales: $3.2 billion (estimated) for home fragrance and personal care products. Corporate sales: $10.7 billion. Net income: $903 million for the year ended Feb. 1, 2014.
Key Personnel: Leslie H. Wexner, chairman and chief executive officer; Stuart Burgdoerfer, executive vice president and chief financial officer; Nicholas Coe, chief executive officer, Bath & Body Works; Charles C. McGuigan, chief operating officer; Sharen Jester Turney, chief executive officer and president, Victoria’s Secret.
Major Products: Bath & Body Works home fragrances and personal care; Victoria’s Secret fine fragrances and beauty products.
New Products: Endless Weekend fragrance, Coastal Cool home fragrances, Victoria’s Secret Heavenly EDP, Very Sexy Now EDP, Bombshell EDP; Angel Glow Moisture Mousse.
Comments: Corporate sales rose less than 3%. Bath & Body Works’ sales rose less than 1%, but while retail store results were flat, sales within Bath & Body Works Direct rose 16%, driven by increases across all categories, including Signature Collection, home fragrances and soaps and sanitizers. The company continues to expand, beautifully. During the year, 90 Victoria’s Secret Beauty and Accessories stores were opened, bringing the total to 198. Approximately 100 more of these franchise-operated units are expected to open this year. B&BW franchisees opened 17 stores last year, bringing the total in the Middle East, Latin America and Eastern Europe to 55. About 25 more of these units are expected to open in 2014.
For the first quarter ended May 3, 2014, corporate sales rose 5% to more than $2.2 billion. Bath & Body Works’ sales rose more than 3% to $581.6 million. Sales of Victoria’s Secret Beauty and B&BW International jumped 75% to $71 million.
But in a May conference call with analysts, Victoria’s Secret CEO Sharen Turney said the company is phasing out its Victoria’s Secret Makeup business.