Bath & Body Works
Sells fragrance-led body care and home products through stores, e-commerce, and international partners.
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Profile
Merchandise sold under Bath & Body Works and White Barn spans body care, home fragrance, and soap and sanitizer. Company-operated stores and e-commerce serve the United States and Canada, while franchise, license, and wholesale partners support international sales.
Personal care and home fragrance anchor a single-segment specialty retail business. Merchandise includes body lotion and cream, candles, home-fragrance diffusers, and liquid hand soap, sold under Bath & Body Works and White Barn.
Company-operated stores and e-commerce serve the United States and Canada. International sales use franchise, license, and wholesale partners rather than company-operated channels.
Exclusive fragrances are applied across body-care and home-fragrance merchandise, connecting the assortment across stores, online channels, and partner-operated international outlets. Management reports the business as one consolidated segment, so product categories and channels—not separate operating segments—describe its structure.
Company facts
Key statistics
Year to date −7.3% · Average volume (30d) 6.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Deutsche Bank | Target | $21 | $22 | ||
| Aug 27, 2026 | Morgan Stanley | Target | $22 | $20 | ||
| Aug 27, 2026 | Robert W. Baird | Target | $20 | $23 | ||
| Aug 27, 2026 | Wells Fargo | Target | $26 | $24 | ||
| Aug 27, 2026 | Barclays | Target | $23 | $22 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 26, 2026Q2 FY26 | $0.24 | $0.62 | +155.2% | $1.50B | $1.51B | +1.1% | +7.51% |
| May 27, 2026Q1 FY26 | $0.29 | $0.32 | +10.3% | $1.36B | $1.38B | +1.2% | +4.68% |
| Mar 4, 2026Q4 FY25 | $1.77 | $2.05 | +15.8% | $2.63B | $2.72B | +3.6% | −3.13% |
| Nov 20, 2025Q3 FY25 | $0.38 | $0.35 | −8.4% | $1.62B | $1.59B | −1.9% | −6.13% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.42B | $1.55B | $1.59B | $2.72B | $1.38B | $1.51B | |
| Gross profit | $646.0M | $640.0M | $658.0M | $1.24B | $587.0M | $692.0M | |
| Operating income | $209.0M | $157.0M | $161.0M | $599.0M | $231.0M | $216.0M | |
| Net income | $105.0M | $64.0M | $77.0M | $403.0M | $183.0M | $118.0M | |
| Diluted EPS | $0.49 | $0.30 | $0.36 | $1.90 | $0.91 | $0.58 | |
| Gross margin | 45.4% | 41.3% | 41.3% | 45.7% | 42.6% | 45.7% | |
| Operating margin | 14.7% | 10.1% | 10.1% | 22.0% | 16.8% | 14.3% |
Fiscal years (4-quarter sums)FY21 $7.88B · FY22 $7.56B · FY23 $7.43B · FY24 $7.31B · FY25 $7.29B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Aug 1, 2026Cash & short-term investments $794.0M · Total debt $4.74B · Total assets $5.16B · Shareholders' equity −$1.05B
Dividends
Raised for 4 straight years — most recently to $0.20 from $0.15 in Feb 2022. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 21, 2026 | Aug 21 | Sep 4 | $0.20 | |
| Jun 5, 2026 | Jun 5 | Jun 19 | $0.20 | |
| Feb 20, 2026 | Feb 20 | Mar 6 | $0.20 | |
| Nov 21, 2025 | Nov 21 | Dec 5 | $0.20 | |
| Aug 22, 2025 | Aug 22 | Sep 5 | $0.20 | |
| Jun 6, 2025 | Jun 6 | Jun 20 | $0.20 | |
| Feb 21, 2025 | Feb 21 | Mar 7 | $0.20 | |
| Nov 22, 2024 | Nov 22 | Dec 6 | $0.20 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 201.56M · Float 189.71M · 94.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 21.04M | 10.44% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 19.41M | 9.63% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 17.02M | 8.44% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 9.07M | 4.50% | 13F | Aug 13, 2026 |
| D. E. Shaw & Co., Inc. | 7.73M | 3.83% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 24, 2025 | Sarah E. Nash | director | +10,000 | $15.58 |
| Nov 24, 2025 | James Kevin Symancyk | director | +22,500 | $15.58 |
| Nov 21, 2025 | Lucy Brady | director | +3,470 | $14.40 |
| Nov 21, 2025 | Francis Hondal | director | +3,343 | $15.00 |
| Nov 21, 2025 | Stephen D. Steinour | director | +6,700 | $14.86 |
Peers
- Victoria's Secret
Body mists, lotions, and fragrance aimed at similar beauty spend
- Newell Brands
Scented candles and home fragrance across Yankee Candle brands
- Estée Lauder Companies
Prestige fragrance and Le Labo scent franchises
- Coty
Fragrance-mist, prestige, and consumer-beauty demand
- Procter & Gamble
Personal cleansing and air-care brands at mass-market scale
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Bath & Body Works | $19.26 | +0.21% | $3.87B | 5.1 | 7.3 | 0.5 | −2.3% |
| Victoria's Secret | $88.15 | +0.23% | $6.98B | 35.4 | 18.3 | 1.0 | +15.3% |
| Newell Brands | $6.20 | +0.32% | $2.62B | — | 9.6 | 0.4 | +3.1% |
| Estée Lauder Companies | $103.41 | +0.01% | $37.39B | 206.8 | 31.2 | 2.5 | +6.5% |
| Coty | $2.86 | +0.18% | $2.51B | — | 9.0 | 0.4 | +1.3% |
| Procter & Gamble | $143.75 | +0.01% | $341.75B | 21.7 | 20.5 | 3.9 | +1.5% |
| Median | 35.4 | 18.3 | 1.0 | +3.1% |