07.01.22
Columbus, OH
www.bbw.com
Sales: $7.9 billion
Key Personnel: Sarah E. Nash, executive chair and interim CEO; Julie Rosen, president; Wendy Arlin, chief financial officer; James Bersani, president, real estate; Chris Cramer, chief operating officer; Deon Riley, chief human resources officer; Michael Wu, chief legal officer and secretary
Major Products: Bath & Body Works home and personal care
New Products: Firecracker Pop air care, personal care and fragrance products; Rainbow Waves air care, personal care and fragrance products; Beach Nights body cream and shower gel; Legend and Hero fragrances, body cream, 3-1 hair, face and bodywash; Hibiscus Paradise shower gel
Comments: 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.
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.
www.bbw.com
Sales: $7.9 billion
Key Personnel: Sarah E. Nash, executive chair and interim CEO; Julie Rosen, president; Wendy Arlin, chief financial officer; James Bersani, president, real estate; Chris Cramer, chief operating officer; Deon Riley, chief human resources officer; Michael Wu, chief legal officer and secretary
Major Products: Bath & Body Works home and personal care
New Products: Firecracker Pop air care, personal care and fragrance products; Rainbow Waves air care, personal care and fragrance products; Beach Nights body cream and shower gel; Legend and Hero fragrances, body cream, 3-1 hair, face and bodywash; Hibiscus Paradise shower gel
Comments: 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.
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.