Bath & Body Works Inc Stock Price, News & Analysis

Third Point LLC, a significant shareholder of Bath & Body Works (NYSE: BBWI), expressed urgent concerns regarding corporate governance in a letter to the Board. They criticized the Board for awarding Chair Sarah Nash an exorbitant $18 million pay package for her part-time interim CEO role in 2022. The firm emphasized the need for responsible fiduciaries and transparency amidst governance failures, including poor execution and inadequate succession planning. Third Point has threatened a proxy contest if their demands for representation are ignored, highlighting the stakes for shareholders amid leadership issues.

Bath & Body Works Appoints New Board Member

Bath & Body Works, Inc. (NYSE: BBWI) has appointed Steve Voskuil, a seasoned finance executive with over 30 years of experience, to its Board of Directors. Currently serving as CFO at The Hershey Company, Voskuil brings expertise in global consumer products and financial operations. Board Chair Sarah Nash expressed confidence in Voskuil’s ability to enhance long-term value creation. Voskuil's appointment follows Lucy Brady's, increasing the Board to 12 members, with 11 being independent. This leadership addition aims to strengthen the company's strategic initiatives and shareholder value.

Bath & Body Works (NYSE: BBWI) announced plans to report its fourth quarter and fiscal 2022 financial results on February 23, 2023, before market open. A conference call will take place at 8:30 a.m. EST, featuring key executives who will discuss the results and provide an outlook for 2023. Supplemental materials will be available 45 minutes prior to the call. Investors can participate by dialing specified numbers and using a conference ID.
The company operates over 1,785 U.S. locations and aims to deliver quality products at affordable prices through an efficient supply chain.

Bath & Body Works (NYSE: BBWI) announced the appointment of Lucy Brady to its Board of Directors, enhancing its leadership with her over 25 years of experience in consumer products and digital transformation. Previously the President of Grocery & Snacks at Conagra Brands, Brady has also held significant roles at McDonald's, focusing on digital customer engagement. Board Chair Sarah Nash emphasized that Brady’s expertise aligns with the company's goal to boost shareholder value and deepen customer relationships. The Board now consists of 11 directors, 10 of whom are independent, including a diverse mix of backgrounds.

Bath & Body Works, Inc. (NYSE: BBWI) has declared a quarterly dividend of $0.20 per share, set to be paid on March 3, 2023. Shareholders must be on record by the close of business on February 17, 2023 to qualify for this dividend. The company, a leader in personal care and home fragrance, operates over 1,785 locations in the U.S. and Canada, alongside more than 390 international franchises. Notably, Bath & Body Works dominates in various product categories, including fine fragrance mist and candles, and benefits from a predominantly U.S.-based supply chain, ensuring quality and affordability.

Bath & Body Works (NYSE: BBWI) has appointed Heather Hollander as the new Vice President of Investor Relations, effective immediately. Hollander brings extensive experience from her previous roles at Nordstrom and Lowe's, focusing on investor relations and financial leadership. She will report to Wendy Arlin, Chief Financial Officer. Arlin praised her knowledge in the capital markets and strong relationships within the investment community, crucial for navigating the current operating environment and enhancing shareholder value.

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.