WASHINGTON (dpa-AFX) - Bath & Body Works, Inc. (BBWI) announced Monday that the Company's independent directors voted unanimously to appoint Daniel Heaf as Chief Executive Officer, effective immediately. Heaf will be appointed as a member of the Board immediately following the conclusion of the Company's 2025 Annual Meeting of Shareholders.
Heaf is a transformative leader with a deep consumer-centric mindset and a track record of driving bold innovation at scale across global consumer and retail companies. In senior leadership roles at Nike, Heaf most recently was Nike's Chief Strategy and Transformation Officer.
Prior to that, he was as Head of Nike Direct and also served as Senior Vice President of Digital, Digital Marketing, Customer Service & Data at Burberry, where he helped reposition the brand as a digital innovator.
Gina Boswell has stepped down from her role as CEO and a member of the Bath & Body Works Board, effective immediately.
The Company is also pre-announcing its preliminary first quarter net sales and earnings per share results. Earnings per share for the quarter were $0.49, compared to $0.38 last year. Net sales grew 4 percent to $1.424 billion from last year. First quarter 2025 sales were at the high end of the guidance range, and earnings per share exceeded the high end of the guidance range.
On average, analysts polled expected the company to report earnings of $0.42 per share on net sales of $1.42 billion for the quarter. Analysts' estimates typically exclude special items.
Further, the Company maintained its initial full-year 2025 earnings guidance in the range of $3.25 to $3.60 per share on net sales growth of 1 to 3% percent. The Street is looking for earnings of $3.52 per share on a net sales growth of 2.23 percent to $7.47 billion for the year.
The company noted that the guidance reflects the impact of the initial 10% tariff on goods imported from China and excludes potential impacts from other possible tariff changes.
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