Brand Description

Columbus, OH

Sales: $4.5 billion

www.bbwinc.com

Key Personnel: Daniel Heaf, chief executive officer; Eva Boratto, chief financial officer; Tom Mazurek, chief supply chain and logistics officer; Michael Wu, chief legal officer and corporate secretary

Major Products: Bath & Body Works home and personal care

New Products: Everyday Luxuries fragrance mists, Netflix collaboration under the Bridgerton, Stranger Things, Disney Princesses and Emily in Paris franchises

Comments: Retail sales fell 1.6% last year, but the company blamed the decline, in part, to a 53rd week in fiscal 2023.

Best known for its home fragrance potpourri of products, BBW continued to expand into international markets, men’s grooming, laundry, lip and haircare. These categories accounted for 10% of sales in 2024, but the company maintains it has the potential to become a larger percentage of product mix. Direct net sales fell 6.8%, due to a decline in orders, which was primarily due to customers selecting the buy online pick up in-store (BOPIS) option, which is recognized as store net sales, and the 53rd week in 2023. The decline was partially offset by an increased average order size. International Net Sales decreased $41 million, or 11.8%, primarily driven by a decline in wholesale shipments to our franchise partners affected by the war in the Middle East. Stores Net Sales increased $27 million, which was effectively flat, primarily due to new store growth and the increase in BOPIS fulfilled orders offset by a decline in average dollar sales and the 53rd week in 2023.

During the year, BBW invested about $245 million in technology and other capital projects to strengthen its infrastructure and improve the customer experience.

As of Feb 1, 2025, BBW operated 1,895 retail stores in the US (1,782) and Canada (113). That’s up from 1,850 the previous year. During 2024, the company opened 106 North American stores, nearly all in off-mall locations, and closed 61 stores, predominantly in malls. When combined with remodeling project,  net square footage grew 3%. This year, North American square footage is expected to grow 2-3%. 

‘Compelling Innovation’ Drives Q1 Results

Driven by what the c-suite calls “compelling innovation,” Q1 2025 sales rose 3% to $1.4 billion. 

“Our team delivered a strong start to the year driven by the positive customer response to our innovation in the quarter. We’re effectively leveraging our predominantly US-based supply chain to navigate the evolving trade environment, and I’m confident in our ability to adapt to meet the consumer where they are with fragrance innovation and high-quality product at compelling price points as we move through 2025,” said Eva Boratto, CFO, Bath & Body Works.

In May, Daniel Heaf was appointed chief executive officer. He’s BBW’s second new CEO in three years. He replaced Gina Boswell.

“I’m honored to join this iconic brand with a deep sense of purpose and a powerful foundation,” said Heaf. I have already had the privilege of meeting many associates across the company, and I’m incredibly impressed by the passion, dedication and talent across our teams. I believe we’re incredibly well positioned to define and lead the home fragrance and beauty categories globally and accelerate growth.”

Heaf joined BBW from Nike. He held various positions at the athletic shoemaker during his six-year career. Most recently he was chief strategy and transformation officer.