07.02.23
Columbus, OH
www.bathandbodyworks.com
Sales: $7.5 billion
Key Personnel: Gina Boswell, chief executive officer; Wendy Arlin, chief financial officer; Tom Mazurek, chief supply chain officer; Bruce Mosier, executive vice president, logistics; Deon Riley, chief human resources officer; Julie Rosen, president; Michael Wu, chief legal officer and corporate secretary
Major Products: Bath & Body Works home and personal care
New Products: Men’s grooming line including Daily Face Wash, Exfoliating Face Wash, Daily Face Lotion, Hydrating Face Cream, Beard & Face Wash, Beard Oil, Beard & Scruff Cream; Hero antiperspirant
Comments: Fiscal 2022 was Bath & Body Works first full-year as a standalone company following the separation of BBW and Victoria’s Secret & Co. in August 2021. Sales fell 4% to $7.5 billion. In-store sales fell 4% to nearly $5.5 billion and online sales fell 8% to $1.7 billion. International sales rose 20% to $339 million.
As consumers emerged from their homes and apartments post-covid, home fragrance and sanitizers sales were down. Total body care sales fell too, but these declines were partially offset by improvement in BBW’s gifting business. Sales of men’s personal care products continued to grow.
For Q1 2023, sales continued to slip, falling 4% to just under $1.4 billion—but in-line with company expectations. Still, CEO Gina Boswell remains upbeat.
“We are moving quickly and implementing our plans to profitably grow sales and drive long-term value for our shareholders,” said Boswell. “I remain excited about the opportunities ahead, and I am confident that the future is bright for Bath & Body Works.”
The company is reshaping its c-suite too. In April, Thilina Gunasinghe was named chief digital & technology officer. He joined Bath & Body Works from McDonald’s Corporation where he most recently served as global vice president, chief technology architect and data officer and was responsible for leading all customer, digital and restaurant technology architecture and data globally. In this newly created role, Gunasinghe will lead Bath & Body Works’ digital and technology strategy, digital operations, data and analytics and transformation.
In May, BBW appointed Maurice Cooper as chief customer officer. Prior to this appointment, Cooper had been at Target, where he was senior vice president, marketing—guest and brand experience. He was responsible for overseeing all omnichannel traffic and developing and executing brand, category and promotional marketing
Wendy Arlin stepped down as chief financial officer this month.
“We are grateful for Wendy’s significant contributions to Bath & Body Works, and appreciate her commitment to ensuring a smooth transition,” said Boswell. “Notably, Wendy was an instrumental member of the team that led the successful spin-off of the Victoria’s Secret business and established Bath & Body Works as a standalone public company, in addition to her work building a strong finance team and helping the company navigate the dynamic operating environment. We wish her all the best in her next chapter.”
Now, BBW is putting the focus on men. In May, the company rolled out a men’s grooming line that includes facial skincare and beard care products.
Finally, the company issued its first ESG report. The company is:
www.bathandbodyworks.com
Sales: $7.5 billion
Key Personnel: Gina Boswell, chief executive officer; Wendy Arlin, chief financial officer; Tom Mazurek, chief supply chain officer; Bruce Mosier, executive vice president, logistics; Deon Riley, chief human resources officer; Julie Rosen, president; Michael Wu, chief legal officer and corporate secretary
Major Products: Bath & Body Works home and personal care
New Products: Men’s grooming line including Daily Face Wash, Exfoliating Face Wash, Daily Face Lotion, Hydrating Face Cream, Beard & Face Wash, Beard Oil, Beard & Scruff Cream; Hero antiperspirant
Comments: Fiscal 2022 was Bath & Body Works first full-year as a standalone company following the separation of BBW and Victoria’s Secret & Co. in August 2021. Sales fell 4% to $7.5 billion. In-store sales fell 4% to nearly $5.5 billion and online sales fell 8% to $1.7 billion. International sales rose 20% to $339 million.
As consumers emerged from their homes and apartments post-covid, home fragrance and sanitizers sales were down. Total body care sales fell too, but these declines were partially offset by improvement in BBW’s gifting business. Sales of men’s personal care products continued to grow.
For Q1 2023, sales continued to slip, falling 4% to just under $1.4 billion—but in-line with company expectations. Still, CEO Gina Boswell remains upbeat.
“We are moving quickly and implementing our plans to profitably grow sales and drive long-term value for our shareholders,” said Boswell. “I remain excited about the opportunities ahead, and I am confident that the future is bright for Bath & Body Works.”
The company is reshaping its c-suite too. In April, Thilina Gunasinghe was named chief digital & technology officer. He joined Bath & Body Works from McDonald’s Corporation where he most recently served as global vice president, chief technology architect and data officer and was responsible for leading all customer, digital and restaurant technology architecture and data globally. In this newly created role, Gunasinghe will lead Bath & Body Works’ digital and technology strategy, digital operations, data and analytics and transformation.
In May, BBW appointed Maurice Cooper as chief customer officer. Prior to this appointment, Cooper had been at Target, where he was senior vice president, marketing—guest and brand experience. He was responsible for overseeing all omnichannel traffic and developing and executing brand, category and promotional marketing
Wendy Arlin stepped down as chief financial officer this month.
“We are grateful for Wendy’s significant contributions to Bath & Body Works, and appreciate her commitment to ensuring a smooth transition,” said Boswell. “Notably, Wendy was an instrumental member of the team that led the successful spin-off of the Victoria’s Secret business and established Bath & Body Works as a standalone public company, in addition to her work building a strong finance team and helping the company navigate the dynamic operating environment. We wish her all the best in her next chapter.”
Now, BBW is putting the focus on men. In May, the company rolled out a men’s grooming line that includes facial skincare and beard care products.
Finally, the company issued its first ESG report. The company is:
- Increasing ethnic and racial diversity among its leadership, ensuring fair, flexible and healthy workplaces with inclusive benefits and enhancing its supplier diversity program.
- Defining, mapping and publishing a list of priority ingredients which will be the focus of the company’s sustainability programs.
- Measuring and setting a comprehensive baseline carbon footprint for Scope 3 emissions.
- Submitting a science-based greenhouse gas (GHG) reduction target to Science-Based Targets initiative (SBTi).
- Shifting to a packaging model where 50% of its packaging will be recyclable, reusable or compostable.
- Increasing the amount of post-consumer recycled content (PCR) to 33% of its total plastic packaging portfolio.
- As part of its 2030 goals, the company’s actions include:
- Continuous review and updating of its compensation and benefits with evolving best practices.
- Improving the sustainability profile of priority ingredients used throughout its products, from source to use.
- Reducing Scope 1 and 2 emissions by 50%.
- Significantly reducing GHG emissions across its operations and supply chain as the company moves towards net-zero.
- Ensuring 100% of its packaging is recyclable, reusable or compostable.