BBWI on NYSE

Bath & Body Works

Logo: Bath & Body Works, Public domain, via Wikimedia Commons⁴

American retailer

Bath & Body Works, LLC. is an American retail store chain that sells soaps, lotions, fragrances, candles, accessories, and hand sanitizers. It was founded in 1990 in New Albany, Ohio, and has since expanded across six continents.³ From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 16, 2026.

Overview

$7.3BRevenue, fiscal 2026⁵

$649.0MNet income, fiscal 2026⁵

1990Founded¹

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TickerBBWI on NYSE¹
Industryfinal good, perfumes industry¹
HeadquartersPanama City¹
Founded inNew Albany¹
Websitewww.bathandbodyworks.com
Incorporated inDE⁶
Business addressThree Limited Pkwy, P O Box 16000, Columbus, Oh 43230⁶
Filer categoryLarge accelerated filer⁶

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

43.7%Gross margin⁵

15.4%Operating margin⁵

8.9%Net margin⁵

-0.2%Revenue growth, 2026⁵

$865.0MFree cash flow⁵

Where the money goes

Where each dollar of revenue went, fiscal 2026

Cost of revenueSelling, general and admin

Cost of revenue56¢$4.1B
Selling, general and admin28¢$2.1B
Interest4¢$276.0M
Income tax3¢$233.0M
Profit9¢$649.0M

Out of $7.3B in revenue.⁵

Where each dollar of operating cash went, fiscal 2026

Capital spendingDividends paidShare buybacksKept or used elsewhere

Capital spending22¢$237.0M
Dividends paid15¢$167.0M
Share buybacks36¢$401.0M
Kept or used elsewhere27¢$297.0M

Out of $1.1B of cash from operations.⁵

Financial statements

Revenue⁹¹⁰¹¹¹²¹³⁵$7.3B in 2026−45% since 2019

Gross profit⁹¹⁰¹¹¹²¹³⁵$3.2B in 2026−35% since 2019

Operating income⁹¹⁰¹¹¹²¹³⁵$1.1B in 2026−9% since 2019

Net income⁹¹⁰¹¹¹²¹³⁵$649.0M in 2026+1% since 2019

Every line of the income statement in the latest annual report, as filed.⁵

Period ending	2026-01-31	2025-01-31	2024-01-31
Net Sales	$7.3B	$7.3B	$7.4B
Costs of Goods Sold, Buying and Occupancy	-$4.1B	-$4.1B	-$4.2B
Gross Profit	$3.2B	$3.2B	$3.2B
General, Administrative and Store Operating Expenses	-$2.1B	-$2.0B	-$2.0B
Operating Income	$1.1B	$1.3B	$1.3B
Interest Expense	-$276.0M	-$312.0M	-$345.0M
Other Income, Net	$32.0M	$74.0M	$81.0M
Income Before Income Taxes	$882.0M	$1.0B	$1.0B
Provision for Income Taxes	-$233.0M	-$230.0M	-$143.0M
Net Income	$649.0M	$798.0M	$878.0M
Net Income Per Basic Share (in USD per share)	$3.12	$3.62	$3.86
Net Income Per Diluted Share (in USD per share)	$3.11	$3.61	$3.84

Total assets⁹¹⁰¹¹¹²¹³⁵$5.1B in 2026−37% since 2019

Shareholders’ equity¹⁶⁹¹⁰¹¹¹²¹³⁵-$1.3B in 2026+47% since 2019

Cash¹⁶⁹¹⁰¹¹¹²¹³⁵$953.0M in 2026−33% since 2019

Long-term debt¹⁶⁹¹⁰¹¹¹²¹³⁵$3.6B in 2026−37% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁵

Period ending	2026-01-31	2025-01-31	2024-01-31
Cash and Cash Equivalents	$953.0M	$674.0M
Accounts Receivable, Net	$180.0M	$205.0M
Inventories	$699.0M	$734.0M
Easton Assets Held for Sale	$81.0M	$96.0M
Other	$106.0M	$114.0M
Total Current Assets	$2.0B	$1.8B
Property and Equipment, Net	$1.1B	$1.1B
Operating Lease Assets	$941.0M	$949.0M
Goodwill	$628.0M	$628.0M
Trade Name	$165.0M	$165.0M
Deferred Income Taxes	$112.0M	$130.0M
Other Assets	$77.0M	$50.0M
Total Assets	$5.1B	$4.9B
Accounts Payable	$465.0M	$338.0M
Accrued Expenses and Other	$579.0M	$584.0M
Current Debt	$280.0M	$0
Current Operating Lease Liabilities	$195.0M	$192.0M
Income Taxes	$72.0M	$117.0M
Total Current Liabilities	$1.6B	$1.2B
Deferred Income Taxes	$65.0M	$24.0M
Long-term Debt	$3.6B	$3.9B
Long-term Operating Lease Liabilities	$867.0M	$883.0M
Other Long-term Liabilities	$213.0M	$233.0M
Preferred Stock$1.00 par value; 10 shares authorized; none issued	$0	$0
Common Stock$0.50 par value; 1,000 shares authorized; 216 and 231 shares issued; 201 and 216 shares outstanding, respectively	$108.0M	$115.0M
Paid-in Capital	$794.0M	$829.0M
Accumulated Other Comprehensive Income	$74.0M	$71.0M
Retained Earnings (Accumulated Deficit)	-$1.4B	-$1.6B
Less: Treasury Stock, at Average Cost; 15 and 15 shares, respectively	-$822.0M	-$822.0M
Total Shareholders Equity (Deficit)	-$1.3B	-$1.4B
Noncontrolling Interest	$2.0M	$2.0M
Total Equity (Deficit)	-$1.3B	-$1.4B	-$1.6B
Total Liabilities and Equity (Deficit)	$5.1B	$4.9B
Preferred stock, par value (in dollars per share)	$1.00	$1.00
Preferred stock, shares authorized (in shares)	10.0M shares	10.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Common stock, par value (in dollars per share)	$0.50	$0.50
Common stock, shares authorized (in shares)	1.0B shares	1.0B shares
Common stock, shares issued (in shares)	216.0M shares	231.0M shares
Common stock, shares outstanding (in shares)	201.0M shares	216.0M shares
Treasury stock (in shares)	15.0M shares	15.0M shares

Cash from operations⁹¹⁰¹¹¹²¹³⁵$1.1B in 2026−20% since 2019

Capital spending⁹¹⁰¹¹¹²¹³⁵$237.0M in 2026−62% since 2019

Free cash flow⁹¹⁰¹¹¹²¹³⁵$865.0M in 2026+16% since 2019

Dividends paid⁹¹⁰¹¹¹²¹³⁵$167.0M in 2026−75% since 2019

Share buybacks⁹¹⁰¹¹¹²¹³⁵$401.0M in 2026+103% since 2019

Every line of the cash flow in the latest annual report, as filed.⁵

Period ending	2026-01-31	2025-01-31	2024-01-31
Net Income	$649.0M	$798.0M	$878.0M
Depreciation of Long-lived Assets	$254.0M	$282.0M	$269.0M
Share-based Compensation Expense	$31.0M	$40.0M	$43.0M
Gain on Sale of Non-core Asset	-$8.0M	$0	$0
Gain on Sales of Easton Investments	$0	-$39.0M	$0
Loss on extinguishment of debt	$0	$10.0M	-$34.0M
Deferred Income Taxes	$63.0M	-$112.0M	-$128.0M
Impairment of Equity Method Investment	$0	$0	$8.0M
Accounts Receivable	$25.0M	$18.0M	$2.0M
Inventories	$37.0M	-$26.0M	-$2.0M
Accounts Payable, Accrued Expenses and Other	$111.0M	-$50.0M	-$109.0M
Income Taxes Payable	-$57.0M	-$23.0M	$34.0M
Other Assets and Liabilities	-$3.0M	-$12.0M	-$7.0M
Net Cash Provided by Operating Activities	$1.1B	$886.0M	$954.0M
Capital Expenditures	-$237.0M	-$226.0M	-$298.0M
Proceeds from Sale of Non-core Asset	$9.0M	$0	$0
Proceeds from Sales of Easton Investments, Net of Fees Paid	$0	$40.0M	$0
Other Investing Activities	$1.0M	$24.0M	$12.0M
Net Cash Used for Investing Activities	-$227.0M	-$162.0M	-$286.0M
Payments for Long-term Debt	$0	-$522.0M	-$447.0M
Repurchases of Common Stock	-$401.0M	-$401.0M	-$148.0M
Dividends Paid	-$167.0M	-$177.0M	-$182.0M
Payments of Finance Lease Obligations	-$14.0M	-$17.0M	-$15.0M
Tax Payments related to Share-based Awards	-$8.0M	-$16.0M	-$11.0M
Other Financing Activities	-$9.0M	$1.0M	-$12.0M
Net Cash Used for Financing Activities	-$599.0M	-$1.1B	-$815.0M
Effects of Exchange Rate Changes on Cash and Cash Equivalents	$3.0M	-$2.0M	-$1.0M
Net Increase (Decrease) in Cash and Cash Equivalents	$279.0M	-$410.0M	-$148.0M

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The story

Founded by Les Wexner in 1990, in New Albany.¹

Bath & Body Works was founded in 1990 in New Albany, Ohio, as the beauty line for Express, Inc. The company's first store opened in a Cambridge, Massachusetts, mall in September 1990. In 1991, the Body Shop sued Bath & Body Works, resulting in Bath & Body Works rebranding. The brand created a mascot named Kate who serves as a founding figure, with the store layout being modeled as her country house. In 1997, a secondary brand known as Bath & Body Works at Home was launched. Two years later, the company launched the White Barn Candle Company, a division specializing in the sale of scented candles.

Bath & Body Works launched both a seasonal catalog and a website in 2006. In November 2006, the company launched its first television commercial advertisement. Net sales as of January 28, 2006 were $2.3 billion, significantly higher than all other L Brands companies other than Victoria's Secret.

In July 2008, the company announced that it was opening six locations in Canada. With the company acquiring Canadian-based La Senza, they felt it was the opportunity to move into a growing Canadian market, with the Body Shop being its main competition.

Bath & Body Works operates more than 1,900 stores. In October 2010, it opened its first stores outside of North America in Kuwait, by the franchise giant M. H. Alshaya Co. The company often recycles scents; discontinuing a scent and renaming it with a fresh new look.

Its fragrances have included Cucumber Melon, introduced in 1998, which was inducted into the Fragrance Foundation's Hall of Fame in 2018.

From Wikipedia’s article on Bath & Body Works, shared under CC BY-SA 4.0.⁷

Leadership

Who has led Bath & Body Works, and when. Pick a name to see everywhere that person has worked.

FounderLes Wexner¹

Products and brands

candle
hand sanitizer
lotion
perfume
soap

Listed on Wikidata.¹

Subsidiaries and ownership

Parent company

Bath & Body Works, Inc.

From Wikidata.¹

Former names

L Brands, Inc.Apr 2, 2013 to Jul 30, 2021⁶
LIMITED BRANDS INCJun 17, 2002 to Mar 22, 2013⁶
LIMITED INCJun 13, 1994 to Jun 12, 2002⁶

Timeline

1990Founded Founded in New Albany¹

Recent filings

Sep 23, 20268-K
Sep 23, 20264
Aug 26, 20268-K
Aug 26, 202610-Q
Aug 12, 2026SCHEDULE 13G/A
Aug 12, 20264
Jul 21, 20263
Jul 20, 20268-K
Jun 15, 20263
Jun 15, 20263
Jun 15, 20263
Jun 15, 20263
Jun 15, 20268-K
Jun 15, 20264
Jun 15, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataBath & Body Works on Wikidata
2
SEC EDGARBath & Body Works filings on SEC EDGAR
3
WikipediaBath & Body Works on Wikipedia
4
Wikimedia CommonsBath & Body Works logo by Bath & Body Works, Public domain
5
SEC EDGARBath & Body Works 10-K for fiscal 2026
6
SEC EDGARBath & Body Works filings on SEC EDGAR
7
WikipediaBath & Body Works on Wikipedia (revision used)
8
Wikimedia CommonsBath & Body Works photo by bargainmoose, CC BY 2.0
9
SEC EDGARBath & Body Works 10-K for fiscal 2019
10
SEC EDGARBath & Body Works 10-K for fiscal 2020
11
SEC EDGARBath & Body Works 10-K for fiscal 2021
12
SEC EDGARBath & Body Works 10-K for fiscal 2022
13
SEC EDGARBath & Body Works 10-K for fiscal 2023
14
SEC EDGARBath & Body Works 10-Q for fiscal 2026
15
SEC EDGARBath & Body Works 10-Q for fiscal 2026
16
SEC EDGARBath & Body Works 10-K for fiscal 2019