Bath & Body Works names Daniel Heaf as new CEO

COLUMBUS, Ohio - Bath & Body Works, Inc. (NYSE: BBWI) announced today the unanimous appointment of Daniel Heaf as Chief Executive Officer, with immediate effect. Following the company’s 2025 Annual Meeting of Shareholders, Heaf will also join the Board of Directors. Heaf, recognized for his consumer-focused leadership and growth-driving strategies, previously held significant roles at Nike, including Chief Strategy and Transformation Officer, where he contributed to substantial sales growth.

The company also pre-announced its first-quarter financial results, reporting net sales of $1.4 billion and earnings per diluted share of $0.49, aligning with the upper end of its sales guidance and surpassing EPS expectations. The company maintains strong fundamentals with a P/E ratio of 9.34 and offers a 2.37% dividend yield to shareholders. Maintaining its full-year outlook, Bath & Body Works expects a net sales growth of 1% to 3% and earnings per diluted share between $3.25 and $3.60 for 2025.

Heaf’s appointment comes as former CEO Gina Boswell steps down from her position and the company’s Board. During her tenure, Boswell played a critical role in stabilizing the business post-COVID and returning it to profitable growth. Sarah Nash, Chair of the Board, expressed gratitude for Boswell’s contributions and confidence in Heaf’s vision to evolve Bath & Body Works into a globally coveted brand.

The company’s preliminary first-quarter results, ending May 3, 2025, show a 3% increase in net sales compared to the previous year and an improvement in earnings per share from $0.38 to $0.49. These preliminary figures are subject to change upon the completion of standard closing procedures.

Bath & Body Works will host its first-quarter earnings call on Thursday, May 29, 2025, featuring insights from Nash, Heaf, and Chief Financial Officer Eva Boratto. Investors can access the call and a subsequent audio replay, as well as a slide presentation summarizing key points and performance metrics on the company’s Investor Relations website.

With over two decades of experience, Heaf is positioned as a transformative leader for Bath & Body Works, aiming to build on the company’s fragrance leadership and accelerate its growth. The information provided in this news article is based on a press release statement from Bath & Body Works, Inc.

In other recent news, Bath & Body Works Inc. experienced an upgrade in its issuer credit rating to ’BB+’ from ’BB’ by S&P Global Ratings, reflecting strong performance and favorable growth prospects. The company’s consistent results were attributed to successful product innovation and operational execution, which led to better-than-expected financial outcomes through the fourth quarter of fiscal 2024. Meanwhile, Citi analysts adjusted their outlook, lowering the stock price target to $36 due to concerns over higher tariffs impacting profitability, though they maintained a Buy rating. In contrast, Goldman Sachs reiterated a Buy rating with a price target of $49, highlighting the success of the company’s digital engagement and strategic collaborations.

Additionally, Bath & Body Works announced that CEO Gina Boswell will take a temporary medical leave for scheduled surgery, though no specifics on interim leadership were provided. The company reassured stakeholders of its ongoing strategies without speculating on the operational impact of Boswell’s absence. Furthermore, TD Cowen included Bath & Body Works among stocks experiencing significant declines, yet maintained a Buy rating, citing potential growth at attractive prices. These developments underscore the dynamic landscape Bath & Body Works navigates amid evolving market conditions.

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