Bath & Body Works Names New CEO, Preannounces Results, Affirms Outlook
Bath & Body Works CEO Gina Boswell resigned and was replaced by former Nike executive Daniel Heaf.
The personal care and home fragrance retailer also reported preliminary first-quarter results and reiterated its full-year outlook.
Bath & Body Works had warned in February that tariffs on Chinese goods and soft consumer demand would drag 2025 results.Shares of Bath & Body Works (BBWI) fell after the personal care and home fragrance retailer shook up its top leadership, gave preliminary first-quarter results, and reiterated its 2025 outlook.
The company said that CEO Gina Boswell was stepping down immediately, and was being replaced by former Nike (NKE) executive Daniel Heaf. Bath & Body Works did not give a reason for Boswell's departure.
Chair Sarah Nash called Heaf "a forward-thinking leader with a remarkable track record of driving innovative, transformative growth across iconic global brands." Nash added that Heaf, his leadership team, and the board "will partner closely to develop a forward-looking strategy that honors the company's legacy while embracing bold, necessary transformation to meet consumers where they are."
Along with the CEO change, Bath & Body Works announced preliminary Q1 earnings per share of $0.49 on net sales up 3% year-over-year to $1.42 billion. The "sales were at the high end of the guidance range, and earnings per share exceeded the high end of the guidance range," it said.
Bath & Body Works affirmed its outlook for full-year EPS of $3.25 to $3.60, and revenue higher by 1% to 3%. It had initially given that guidance in February when it warned Trump administration tariffs on China and soft consumer demand would hurt results.
Bath & Body Works shares, which slipped 1.2% in recent trading, are down about 14% this year.
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