Bath & Body Works Inc SEC Filings

Victory Capital Management, Inc. filed Amendment No. 2 to Schedule 13G reporting beneficial ownership of 8,405,430 shares of Bath & Body Works (BBWI) common stock, representing 4.08% of the class as of 09/30/2025.

The filer reports sole voting power over 8,240,779 shares and sole dispositive power over 8,405,430 shares, with no shared voting or dispositive power. The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Bath & Body Works, Inc. (BBWI) reported second quarter 2025 Net Sales of $1,549 million, up $23 million or 1.5% versus Q2 2024, driven by modest increases in transactions and average dollar sales in North America. Operating Income was $157 million, down $26 million or 13.9%, and the operating margin fell to 10.2% from 12.0% a year earlier primarily due to higher general, administrative and store operating expenses related to leadership transition costs, partially offset by a higher gross profit rate. The Company recorded a much higher effective tax rate in Q2 2025 of 32.3% versus 0.9% in Q2 2024, reflecting severance-related items and other tax items; year-to-date rates were 29.9% versus 12.1% in the prior year. The Company had no borrowings under its $750 million ABL Facility as of August 2, 2025, with a borrowing base of $683 million and available capacity of $674 million after $9 million of letters of credit. The Company cancelled the remaining $121 million authorization under its January 2024 repurchase program on February 27, 2025 and began repurchases under a January 2025 program, with $3 million repurchased as of August 2, 2025 and $262 million remaining authority. Easton real estate investments were reclassified during Q2 2025, with held-for-sale carrying value movements and prior 2024 sales that generated $50 million of proceeds and a $39 million pre-tax gain.

T. Rowe Price Investment Management, Inc. reports beneficial ownership of 1,202,931 shares of Bath & Body Works common stock, equal to 0.6% of the class. The filing states that these shares are held with sole voting and sole dispositive power, with no shared voting or dispositive authority.

The filer is identified as an investment adviser and certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. This Schedule 13G/A constitutes an ownership disclosure rather than a control or activist filing.

Filing type: Amendment to Schedule 13G filed by Victory Capital Management, Inc. relating to Bath & Body Works, Inc. (CUSIP 070830104).

Holdings: Victory Capital reports beneficial ownership of 12,773,211 shares, representing 6.04% of common stock. The filing states sole voting power of 12,524,960 shares and sole dispositive power of 12,773,211 shares; no shared voting or dispositive power is reported. The Date of Event requiring filing is 06/30/2025 and the amendment is signed on 08/08/2025.

Purpose: Filed on Schedule 13G (Amendment No. 1) and includes a certification that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. The amendment comment notes it corrects the sole voting power figure.

Victory Capital Management, Inc. has filed a Schedule 13G reporting a passive ownership position in Bath & Body Works, Inc. (BBWI) as of 30 June 2025.

• Shares owned: 12,773,211 common shares.
• Ownership percentage: 6.04 % of BBWI’s outstanding stock.
• Control rights: Sole voting power over 12,524,960 shares and sole dispositive power over the full 12,773,211 shares; no shared voting or dispositive authority.
• Filing basis: Rule 13d-1(b) as an investment adviser (Type IA), indicating the stake is held in the ordinary course of business and not for the purpose of influencing control.
• Reporting entity details: Victory Capital Management, Inc., 15935 La Cantera Pkwy, San Antonio, TX 78256; organized in New York. Signature by Chief Compliance Officer Barry Garrett dated 08 Aug 2025.

The disclosure confirms notable institutional interest in BBWI but does not signal activist intentions or strategic transactions.

FMR LLC, the parent of Fidelity Investments, and CEO Abigail P. Johnson have filed a Schedule 13G reporting a 5.9 % passive stake in Bath & Body Works, Inc. (BBWI). As of 30 Jun 2025, the group beneficially owns 12,412,497.57 common shares (CUSIP 070830104). FMR exercises sole voting power over 12,361,534.40 shares and sole dispositive power over the full stake; there is no shared voting or dispositive power.

The filing is made under Rule 13d-1(b), classifying FMR as a parent holding company/control person. Because the Schedule 13G denotes a passive investment, the filer certifies the shares were acquired in the ordinary course of business and not to influence issuer control. Crossing the 5 % ownership threshold triggers ongoing disclosure obligations but does not signal an activist agenda. Investors may view the increased institutional ownership from a globally recognised asset manager as a modest vote of confidence that can enhance liquidity and market attention without altering governance dynamics.

Bath & Body Works (BBWI) filed a Form 4 for CFO Eva C. Boratto. On 08/01/2025, 6,533 common shares were withheld (Code F) to satisfy tax obligations triggered by the vesting of restricted stock units. The administrative transaction was priced at $28.17, implying a cash value of roughly $184k. No open-market sale or purchase occurred; the shares move from the insider to the company treasury.

After the withholding, Boratto’s direct ownership stands at 118,426 shares. No derivative securities were acquired, disposed of, or outstanding in this filing, and there are no indications of additional trading plans. The event is routine and does not signal a change in strategic outlook or insider sentiment.