Bath & Body Works

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Brand Description

We make the world a brighter, happier place through the power of fragrance. This idea is what we were founded on, and it’s at the heart of everything we do.

We’re a team that cares about our customers and believes in giving them a reason to celebrate with fragrance every day.

We are committed to creating a diverse, equitable and inclusive culture that is focused on delivering exceptional fragrances and experiences.

We work hard to improve our communities and our planet in a way that will make us proud for years to come … because we believe the world is a better place when everyone has access to the things that make them happy.

Home of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including the top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Powered by agility and innovation, the company’s predominantly U.S.-based supply chain enables the company to deliver quality, on-trend luxuries at affordable prices. Bath & Body Works serves and delights customers however and wherever they want to shop, from welcoming, in-store experiences at more than 1,800 company-operated Bath & Body Works locations in the U.S. and Canada and more than 425 international franchised locations to an online storefront at www.BathandBodyWorks.com.

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Key Personnel

NAME
JOB TITLE
  • Sarah E. Nash
    Executive Chair and Interim CEO
  • Wendy Arlin
    Chief financial Officer
  • James Bersani
    President, Real Estate
  • Deon Riley
    Chief Human Resources Officer
  • Michael Wu
    Chief Legal Officer and Secretary

Yearly results

Sales: 7.5 Billion

Sales: $7.5 billion

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.

Sales: 7.9 Billion

Sales: $7.9 billion

Nearly a year ago, L Brands completed the separation of the Victoria’s Secret business into an independent, public company through a tax-free spin-off to L Brand shareholders. The new company is Victoria’s Secret & Co. In conjunction with that announcement, L Brands changed its name to Bath & Body Works, Inc. The company said the separation enables BBW to pursue growth strategies best suited to its customer base and strategic objectives.

Bath & Body Works is thriving as a stand-alone company.

They’re on to something. Last year, sales rose 22% to nearly $7.9 billion.

For the first quarter of 2022, which ended April 30, sales fell 1% to more than $1.4 billion. In a statement, Nash said business is very strong, execution is excellent, and BBW’s strategy of delivering affordable luxuries to customers is more relevant than ever. With a vertically integrated and approximately 85% domestic supply chain, Bath & Body Works is taking advantage of the agility in its inventory decision making to leverage early customer reads and chase its best performers in season.

“We combine the best of newness and daily use. Our business is very fast, and we are able to quickly adjust to changing customer preferences,” she said. “Looking ahead in 2022, we are continuing to plan prudently and use our agility to chase winners. We are accelerating investments in the business to drive our long-term growth, while at the same time, our team continues to successfully navigate the inflationary environment.”

On May 12, CEO Andrew Meslow left the company for health reasons. Nash is serving as interim CEO until a replacement is named.

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