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Bath & Body Works, Inc. (NYSE: BBWI) is a premier retailer specializing in home fragrances and personal care products. Established as an independent company following the 2021 separation from Victoria’s Secret, Bath & Body Works operates under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company boasts over 1,800 retail stores primarily in North America, complemented by a burgeoning international presence and a robust e-commerce platform.
Bath & Body Works has carved a niche in delivering quality, on-trend luxuries at affordable prices. Its product portfolio includes fine fragrance mists, body lotions, body creams, 3-wick candles, home fragrance diffusers, and liquid hand soaps. Recently, the company has expanded its offerings with innovative seasonal collections and exclusive partnerships, such as its recent collaboration with top athletes to promote a new line of men’s grooming products.
In fiscal 2023, Bath & Body Works reported net sales of $7.429 billion, reflecting a 1.7% decrease from the previous year. Despite this, the company demonstrated resilience with adjusted earnings per diluted share of $3.27. The company’s strategic initiatives, including cost optimization and digital channel expansion, have bolstered its financial performance and positioned it for sustained growth.
Recent achievements include exceeding third-quarter and fourth-quarter earnings expectations, launching new fall fragrances, and initiating a $500 million share repurchase program. The company is also actively hiring seasonal associates to meet the increased demand during the holiday season. Bath & Body Works remains committed to enhancing customer experience through an omnichannel approach and ongoing innovation in product development.
Bath & Body Works has announced its Annual Body Care Day, taking place on December 9 and 10, 2022. This year, all body care products will be priced at $4.95, a significant 77% discount from retail values ranging between $7.50 and $21.50. Customers can choose from over 500 products and enjoy the launch of five new fragrances. The event also introduces early access for loyalty program members. This sale marks a return to the lowest pricing seen during the inaugural event in 2019, aimed at helping consumers complete their holiday shopping affordably.
Bath & Body Works has partnered with Instacart to enhance holiday shopping convenience for customers. This collaboration allows customers to order Bath & Body Works products for delivery in as little as one hour, making it ideal for last-minute gifting. In 2021, the brand accounted for 48% of body care and home fragrance gifts in the U.S., showcasing its popularity. The range includes affordable gifts, from $5 to $60, catering to various budgets. Bath & Body Works aims to make holiday gifting easier, according to President Julie Rosen.
Bath & Body Works (BBWI) announced its third quarter 2022 results, reporting net sales of $1.60 billion, down 5% year-over-year but up 46% since Q3 2019. EPS for the quarter was $0.40, exceeding guidance of $0.10 to $0.20. Operating income fell to $201.8 million, and net income decreased to $91.0 million compared to $177.1 million last year. The company raised its fiscal 2022 EPS forecast to between $3.00 and $3.20. Looking forward, BBWI aims to enhance customer engagement through new offerings, as it prepares for the leadership transition to Gina Boswell as CEO in December.
Bath & Body Works (NYSE: BBWI) has declared a regular quarterly dividend of $0.20 per share, payable on December 2, 2022, to shareholders of record by the close of business on November 18, 2022. This decision reflects the company’s ongoing commitment to return value to its shareholders. Bath & Body Works continues to lead the personal care and home fragrance market with over 1,770 locations in the U.S. and Canada, alongside more than 360 international franchises.
Bath & Body Works (NYSE: BBWI) will announce its third quarter 2022 earnings on Nov. 16, 2022, after market close. A live conference call featuring company executives will take place on Nov. 17, 2022, at 9:00 a.m. ET. Investors can join the call via the company's website or by phone. With over 1,770 stores in the U.S. and Canada, Bath & Body Works is a leader in personal care and home fragrance, known for its top-selling fine fragrance mist and candles.
Bath & Body Works announces the appointment of Gina Boswell as CEO effective December 1, 2022. She succeeds Sarah E. Nash, who served as interim CEO since May 2022. Boswell brings over 30 years of experience in the beauty and personal care industry, having held senior roles at Unilever and Estee Lauder. The Board expresses confidence in Boswell's ability to drive growth and enhance shareholder value, leveraging her extensive skills in sales, marketing, and operational management. This leadership transition aims to strengthen the company's omni-channel strategy.
Bath & Body Works launches its holiday campaign, "Make Joy Happen," featuring over 400 limited-edition products and gifts starting at $5. The Christmas collection includes iconic fragrances like Fresh Balsam and new exclusive scents such as Dream Bright and After Dark. The campaign emphasizes easy gifting options with gift sets priced from $10 to $60 and innovative wellness collections like Aroma. Customers can enjoy weekly sales events and convenient shopping options, including Buy Online Pick Up In Store and same-day delivery via Instacart.
Bath & Body Works has launched a new product line, MOXY, which is available online and in select stores starting this fall. The collection includes face and hair care products free from phthalates and mineral oils, as well as supplements aimed at supporting overall wellness, including relaxation and immunity. This initiative is part of Bath & Body Works' commitment to innovation and customer satisfaction. The company aims to expand its product range and enhance brand potential through new business opportunities.
Bath & Body Works (NYSE: BBWI) announced that Wendy Arlin, executive vice president and CFO, will participate in the Goldman Sachs 29th Annual Global Retailing Conference on Sept. 8, 2022. The fireside chat is scheduled for 11:15 a.m. Eastern. A live audio webcast will be available, accessible through the company’s investor section. The replay will be available for 90 days following the event. Bath & Body Works is known for its leadership in personal care and home fragrance, with over 1,770 locations in the U.S. and Canada.
Bath & Body Works has launched its loyalty program, My Bath & Body Works Rewards, available nationwide. Customers can enroll via the app, in stores, or online, earning points on every purchase ($1 = 10 points). With a $100 spend, members can redeem a free product valued up to $16.50. The program features exclusive perks, like early access to events and a free birthday gift. Recognized as a top loyalty program by the 2022 Loyalty Report, it aims to deepen customer engagement, reflecting insights from an extensive consumer base of over 60 million.
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