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BlackRock Inc. bought a new position in Bath & Body Works, Inc. (NYSE:BBWI – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,414,831 shares of the company’s stock, valued at approximately $449,065,000. BlackRock Inc. owned approximately 9.63% of Bath & Body Works as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Bath & Body Works by 92.8% during the first quarter. Royal Bank of Canada now owns 59,877 shares of the company’s stock valued at $1,815,000 after purchasing an additional 28,815 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Bath & Body Works by 15.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,970 shares of the company’s stock worth $19,586,000 after buying an additional 87,529 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Bath & Body Works by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 562,757 shares of the company’s stock worth $17,063,000 after buying an additional 36,684 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Bath & Body Works during the 1st quarter valued at about $1,155,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Bath & Body Works by 217.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company’s stock valued at $35,000 after buying an additional 801 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In Several research analysts recently commented on the company. Weiss Ratings upgraded Bath & Body Works from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. Barclays decreased their price objective on Bath & Body Works from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. TD Cowen raised their price objective on Bath & Body Works from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Telsey Advisory Group dropped their target price on Bath & Body Works from $25.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, May 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $22.00 target price on shares of Bath & Body Works in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.57.

View Our Latest Report on Bath & Body Works Bath & Body Works Price Performance Shares of BBWI opened at $19.16 on Tuesday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 1.92 and a beta of 1.38. Bath & Body Works, Inc. has a 1-year low of $14.27 and a 1-year high of $32.32. The company has a 50-day moving average of $20.46 and a 200 day moving average of $20.06.

Bath & Body Works (NYSE:BBWI – Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Bath & Body Works had a net margin of 10.03% and a negative return on equity of 45.34%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. Bath & Body Works has set its Q2 2026 guidance at 0.300-0.300 EPS and its FY 2026 guidance at 2.400-2.650 EPS. On average, equities analysts anticipate that Bath & Body Works, Inc. will post 2.63 earnings per share for the current fiscal year.

Bath & Body Works Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, August 21st. Bath & Body Works’s payout ratio is presently 22.47%.

Bath & Body Works Company Profile (Free Report)

Bath & Body Works, Inc is a leading specialty retailer focused on personal care, home fragrance and complementary products. Through its flagship Bath & Body Works brand, the company offers a diverse assortment of shower gels, lotions, fragrance mists, candles and home fragrance items. Its product portfolio also includes the White Barn Candle Co range of premium scented candles and diffusers. Bath & Body Works serves consumers through a combination of brick-and-mortar stores and e-commerce platforms, delivering seasonal collections, limited-edition releases and signature scent lines.

Founded in 1990 as part of Limited Brands (now L Brands), Bath & Body Works opened its first store in New Albany, Ohio, and quickly expanded across the United States.

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Delivers Q2 net sales and adjusted earnings per share results above guidanceSecond quarter net sales of $1.5 billion, down 2.3%. Earnings per diluted share of $0.58; Adjusted earnings per diluted share of $0.62Delivered growth in Direct net sales, supported by ongoing enhancements to the digital experience over the past year Raises full-year 2026 earnings per diluted share guidance to $3.13 to $3.33; adjusted earnings per diluted share guidance to $2.60 to $2.80 and narrows net sales guidance to a decline between 4% to 2.5% COLUMBUS, Ohio, Aug. 26, 2026 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) today reported second quarter 2026 results.

Daniel Heaf, chief executive officer of Bath & Body Works, commented, “Our second-quarter results exceeded our sales and earnings per share guidance. Underlying business trends remain pressured, but we are seeing further evidence that elements of the Consumer First Formula are beginning to work. We delivered sequential improvement in Body Care, stronger AUR on new product innovation, improved brand discoverability, and continued momentum across our marketplace partnerships.”

“Additionally, this quarter marks the first direct net sales growth since 2021. The investments we've made over the past year are strengthening the customer proposition through a more seamless and engaging shopping experience, and these improvements are resonating with consumers.”

Heaf, continued, “These proof points strengthen our confidence in the strategy, but we remain in the early stages of the transformation. Our priority remains improving the trajectory of the business while continuing to build the product, brand and marketplace capabilities that we believe will position Bath & Body Works for sustainable, durable growth in 2027.”

Second Quarter 2026 Results

The company reported net sales of $1,514 million for the quarter ended August 1, 2026, a decrease of 2.3% compared to net sales of $1,549 million for the quarter ended August 2, 2025.

Earnings per diluted share were $0.58 for the second quarter of 2026 compared to $0.30 last year. Second quarter operating income was $216 million compared to $157 million last year, and net income was $118 million compared to $64 million last year.

Reported second quarter 2026 results included aggregate pre-tax costs of $9 million ($7 million after tax) associated with business transformation activities. Excluding this item, adjusted earnings per diluted share was $0.62, adjusted operating income was $225 million and adjusted net income was $125 million.

Reported second quarter 2025 results included pre-tax costs of $15 million ($14 million after-tax) associated with the transition of certain members of the leadership team. Excluding this item, adjusted earnings per diluted share was $0.37, adjusted operating income was $172 million and adjusted net income was $78 million.

Reported and adjusted second quarter 2026 results included approximately $80 million of tariff refunds received in the quarter. Excluding the refund benefit, second quarter 2026 adjusted earnings per diluted share would have been $0.31.

At the conclusion of this press release is a reconciliation of reported‐to‐adjusted results, including a description of the adjusted items.

2026 Guidance

The company is narrowing its full-year 2026 guidance of net sales to decline between 4% to 2.5% compared to $7,291 million in fiscal 2025. The company is also raising its full-year 2026 earnings per diluted share guidance to between $3.13 and $3.33 compared to $3.11 in fiscal 2025 and full-year 2026 adjusted earnings per diluted share guidance to between $2.60 and $2.80, compared to adjusted earnings per diluted share of $3.21 in 2025. There are no share repurchases assumed in our outlook. In fiscal 2026, we now expect to generate free cash flow of approximately $650 million.

For the third quarter of 2026, the company is forecasting net sales to decline between 5% to 2.5% compared to $1,594 million in the third quarter of 2025. Third quarter 2026 earnings per diluted share is expected to be between $0.05 and $0.10, compared to earnings per diluted share of $0.37 in the third quarter of 2025 and third quarter 2026 adjusted earnings per diluted share is expected to be between $0.07 and $0.12 compared to adjusted earnings per diluted share of $0.35 in the third quarter of 2025.

At the conclusion of this press release is a reconciliation of our guidance-to-adjusted guidance, including a description of the adjusted items.

For a reconciliation of our reported GAAP to adjusted non-GAAP earnings per diluted share for fiscal 2025 and the third quarter of 2025, refer to our Annual Report on Form 10-K, filed with the SEC on March 12, 2026, and our Quarterly Report on Form 10-Q, filed with the SEC on November 20, 2025, respectively.

Earnings Call and Additional Information

Bath & Body Works, Inc. will conduct its second quarter earnings call at 8:30 a.m. ET on August 26th. To listen, call 877-407-9219 (international dial-in number: 412-652-1274). For an audio replay, call 877-660-6853 (international replay number: 201-612-7415); access code 13761942 or log onto www.BBWInc.com. A slide presentation has been posted on the company’s Investor Relations website that summarizes certain information in the company‘s prepared remarks from the earnings call as well as some additional facts and figures regarding the company’s operating performance and guidance.

ABOUT BATH & BODY WORKS
Bath & Body Works is a global leader in personal care and home fragrance, driven by the belief that everybody deserves to feel good. 

The brand’s beloved and iconic scents are expertly crafted for exceptional performance and a luxury fragrance experience. Formulated with thoughtfully chosen ingredients, Bath & Body Works’ body care products are available in multiple forms including fine fragrance mist, body cream, lotion, eau de parfum, body wash, hand soap, sanitizer and more. The brand’s famous 3-wick candles are made with rich, high-quality fragrance oils layered throughout a premium soy wax base, for up to 45 hours of room-filling fragrance. 

Consumers can shop Bath & Body Works anytime and anywhere they choose, from welcoming, in-store experiences at more than 1,900 stores in the U.S. and Canada, 550-plus international locations and select Ulta Beauty stores. Online, consumers can visit bathandbodyworks.com, Amazon and Ulta.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made by our Company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “target,” “goal” and any similar expressions may identify forward-looking statements. There are risks, uncertainties and other factors that in some cases have affected and, in the future, could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this report or otherwise made by the Company or our management. These factors can be found in Item 1A. Risk Factors in our 2025 Annual Report on Form 10-K and our subsequent filings.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.

We announce material financial and operational information using our investor relations website, press releases, SEC filings and public conference calls and webcasts. Information about the Company, our business and our results of operations may also be announced by posts on our accounts on social media channels, including the following: Facebook, Instagram, X, LinkedIn, Pinterest, TikTok and YouTube. The information that we post through these social media channels and on our website may be deemed material. As a result, we encourage investors, the media and others interested in the Company to monitor these social media channels in addition to following our investor relations website, press releases, SEC filings and public conference calls and webcasts. The list of social media channels we use may be updated from time to time on our investor relations website. 

For further information, please contact:

Bath & Body Works, Inc.:
Luke Long
[email protected]

Media Relations
Emmy Beach
[email protected]

BATH & BODY WORKS, INC.
Second Quarter 2026Total Sales (In millions):  Second Quarter Year-to-Date   2026   2025  % Change  2026   2025  % ChangeStores - U.S. and Canada (a) $1,131  $1,196  (5.4%) $2,194  $2,307  (4.9%)Direct - U.S. and Canada  275   267  3.0%  521   517  0.8%International and Other (b)  108   86  24.9%  177   150  18.1%Total Bath & Body Works $1,514  $1,549  (2.3%) $2,892  $2,974  (2.7%)________________
(a) Results include fulfilled buy online pick up in store orders.
(b) Results include royalties associated with franchised stores, as well as international and domestic wholesale sales. Total Company-operated Stores:

  Stores
      Stores
  1/31/2026
 Opened
 Closed 8/1/2026
United States 1,814  36  (27) 1,823 Canada 113  1  —  114 Total Bath & Body Works 1,927  37  (27) 1,937  Total Partner-operated Stores:

  Stores
      Stores
  1/31/2026
 Opened
 Closed 8/1/2026
International 536  25  (2) 559 International - Travel Retail 37  —  —  37 Total International (a) 573  25  (2) 596 ________________
(a) Includes store locations only and does not include kiosks, shop-in-shops, gondola or beauty counter locations. BATH & BODY WORKS, INC.CONSOLIDATED STATEMENTS OF INCOME(Unaudited)(In millions, except per share amounts)           Second Quarter Year-to-Date   2026   2025   2026   2025 Net Sales $1,514  $1,549  $2,892  $2,974 Costs of Goods Sold, Buying and Occupancy  (822)  (909)  (1,613)  (1,687)Gross Profit  692   640   1,279   1,287 General, Administrative and Store Operating Expenses  (476)  (483)  (832)  (920)Operating Income  216   157   447   367 Interest Expense  (63)  (68)  (132)  (139)Other Income, Net  11   6   15   13 Income Before Income Taxes  164   95   330   241 Provision for Income Taxes  (46)  (31)  (29)  (72)Net Income $118  $64  $301  $169          Net Income per Diluted Share $0.58  $0.30  $1.49  $0.79          Weighted Average Diluted Shares Outstanding  202   211   202   213  BATH & BODY WORKS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited)
(In millions)  August 1,
2026 August 2,
2025ASSETS    Current Assets:    Cash and Cash Equivalents $794  $364 Accounts Receivable, Net  154   131 Inventories  883   977 Easton Assets Held for Sale  81   81 Other  138   153 Total Current Assets  2,050   1,706 Property and Equipment, Net  1,106   1,124 Operating Lease Assets  1,012   984 Goodwill  628   628 Trade Name  165   165 Deferred Income Taxes  108   133 Other Assets  87   74 Total Assets $5,156  $4,814 LIABILITIES AND EQUITY (DEFICIT)    Current Liabilities:    Accounts Payable $676  $567 Accrued Expenses and Other  556   541 Current Debt  248   — Current Operating Lease Liabilities  199   194 Income Taxes  28   1 Total Current Liabilities  1,707   1,303 Deferred Income Taxes  115   23 Long-term Debt  3,366   3,888 Long-term Operating Lease Liabilities  931   912 Other Long-term Liabilities  91   235 Total Equity (Deficit)  (1,054)  (1,547)Total Liabilities and Equity (Deficit) $5,156  $4,814  BATH & BODY WORKS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)  Year-to-Date   2026   2025 Operating Activities:    Net Income $301  $169 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    Depreciation of Long-lived Assets  120   128 Share-based Compensation Expense  10   18 Loss on Extinguishment of Debt  8   — Tax Benefit from Resolution of Certain Tax Matters  (62)  — Changes in Assets and Liabilities:    Accounts Receivable  26   75 Inventories  (185)  (241)Accounts Payable, Accrued Expenses and Other  191   157 Income Taxes Payable  (56)  (139)Other Assets and Liabilities  (37)  (22)Net Cash Provided by Operating Activities  316   145      Investing Activities:    Capital Expenditures  (98)  (93)Proceeds from Sale of Non-core Asset  8   — Other Investing Activities  1   (2)Net Cash Used for Investing Activities  (89)  (95)     Financing Activities:    Payments for Long-term Debt  (289)  — Repurchases of Common Stock  —   (254)Dividends Paid  (80)  (85)Other Financing Activities  (15)  (23)Net Cash Used for Financing Activities  (384)  (362)     Effects of Exchange Rate Changes on Cash and Cash Equivalents  (2)  2 Net Decrease in Cash and Cash Equivalents  (159)  (310)Cash and Cash Equivalents, Beginning of Year  953   674 Cash and Cash Equivalents, End of Period $794  $364  BATH & BODY WORKS, INC.ADJUSTED FINANCIAL INFORMATION(Unaudited)(Dollars in millions, except per share amounts)           Second Quarter Year-to-Date   2026   2025   2026   2025 Reconciliation of Reported Operating Income to Adjusted Operating IncomeReported Operating Income $216  $157  $447  $367 Interchange Fee Settlements  —   —   (88)  — Business Transformation Activities  9   —   17   — Leadership Transition Costs  —   15   —   15 Adjusted Operating Income $225  $172  $376  $382          Reconciliation of Reported Net Income to Adjusted Net IncomeReported Net Income $118  $64  $301  $169 Interchange Fee Settlements  —   —   (88)  — Business Transformation Activities  9   —   17   — Leadership Transition Costs  —   15   —   15 Loss on Extinguishment of Debt  —   —   8   — Gain on Sale of Non-core Asset  —   —   (3)  — Tax Effect of Adjustments  (2)  (1)  17   (1)Tax Benefit from Resolution of Certain Tax Matters  —   —   (62)  — Adjusted Net Income $125  $78  $190  $183          Reconciliation of Reported Net Income per Diluted Share to Adjusted Net Income per Diluted ShareReported Net Income per Diluted Share $0.58  $0.30  $1.49  $0.79 Interchange Fee Settlements  —   —   (0.43)  — Business Transformation Activities  0.05   —   0.09   — Leadership Transition Costs  —   0.07   —   0.07 Loss on Extinguishment of Debt  —   —   0.04   — Gain on Sale of Non-core Asset  —   —   (0.02)  — Tax Effect of Adjustments  (0.01)  (0.01)  0.08   (0.01)Tax Benefit from Resolution of Certain Tax Matters  —   —   (0.31)  — Adjusted Net Income per Diluted Share $0.62  $0.37  $0.94  $0.86 
See Notes to Adjusted Financial Information. BATH & BODY WORKS, INC.FORECASTED ADJUSTED FINANCIAL INFORMATION(Unaudited)(In millions, except per share amounts)           Third Quarter Full-Year   2026   2026 Reconciliation of Forecasted Net Income Per Diluted Share to Forecasted Adjusted Net Income per Diluted Share  Low High Low HighForecasted Net Income per Diluted Share $0.05  $0.10  $3.13  $3.33 Interchange Fee Settlements  —   —   (0.43)  (0.43)Business Transformation Activities  —   —   0.09   0.09 Loss on Extinguishment of Debt  0.03   0.03   0.07   0.07 Gain on Sale of Non-core Asset  —   —   (0.02)  (0.02)Tax Effect of Adjustments  (0.01)  (0.01)  0.07   0.07 Tax Benefit from Resolution of Certain Tax Matters  —   —   (0.31)  (0.31)Forecasted Adjusted Net Income Per Diluted Share $0.07  $0.12  $2.60  $2.80                  Full-YearReconciliation of Forecasted Net Cash Provided by Operating Activities to Forecasted Free Cash Flow  2026 Forecasted Net Cash Provided by Operating Activities       $890 Forecasted Capital Expenditures        (240)Forecasted Free Cash Flow       $650 
See Notes to Adjusted Financial Information. BATH & BODY WORKS, INC.
NOTES TO ADJUSTED FINANCIAL INFORMATION
(Unaudited)

The adjusted financial information should not be construed as an alternative to the results determined in accordance with generally accepted accounting principles. Further, the company’s definitions of adjusted income information may differ from similarly titled measures used by other companies. Management believes that the presentation of adjusted financial information provides additional information to investors to facilitate the comparison of past and present operations. While it is not possible to predict future results, management believes the adjusted financial information is useful for the assessment of the operations of the company because the adjusted items are not indicative of the company’s ongoing operations due to their size and nature. Additionally, management uses adjusted financial information as key performance measures for the purpose of evaluating performance internally. The adjusted financial information should be read in conjunction with the company’s historical financial statements and notes thereto contained in the company’s Quarterly Reports on Form 10-Q and Annual Report on Form 10-K.

The “Adjusted Financial Information” provided in the attached reflects the following non-GAAP financial measures:

Fiscal 2026

In the second quarter of 2026, adjusted results exclude the following:

Aggregate pre-tax costs of $9 million ($7 million after tax), included in General, Administrative and Store Operating Expenses, resulting from business transformation activities in connection with the Consumer First Formula; In the first quarter of 2026, adjusted results exclude the following:

An $88 million pre-tax gain ($66 million after tax), included as a reduction to General, Administrative and Store Operating Expenses, related to cash proceeds received, net of legal fees, for favorable settlements of payment card interchange fee litigation;Aggregate pre-tax costs of $8 million ($6 million after tax), primarily included in General, Administrative and Store Operating Expenses, resulting from business transformation activities in connection with the Consumer First Formula;An $8 million pre-tax loss ($6 million after tax), included in Other Income, Net, related to the repurchase and early extinguishment of outstanding debt;A $3 million pre-tax gain ($3 million after tax), included in Other Income, Net, related to the sale of a non-core asset; andA $62 million tax benefit associated with the resolution of certain tax matters. The “Forecasted Adjusted Financial Information” provided in the attached reflects the adjusted items referenced above, as well as a $5 million pre-tax loss ($4 million after tax) which will be included in Other Income, Net, related to the repurchase and early extinguishment of outstanding debt completed on August 19, 2026.

Fiscal 2025

In the second quarter of 2025, adjusted results exclude the following:

Aggregate pre-tax costs of $15 million ($14 million net of tax of $1 million), included in general, administrative and store operating expenses, due to the transition of certain members of the leadership team, primarily related to severance benefits. There were no adjustments to results in the first quarter of 2025.

Forecasted Free Cash Flow

Our Forecasted Free Cash Flow is defined as Forecasted Net Cash Provided by Operating Activities less our Forecasted Capital Expenditures. Our Forecasted Free Cash Flow is a non-GAAP financial measure which we believe is useful to analyze our anticipated ability to generate cash. Our Forecasted Free Cash Flow calculation may not be comparable to similarly-titled measures reported by other companies. Our Forecasted Free Cash Flow should be evaluated in addition to, and not considered a substitute for, other GAAP financial measures.

Bath & Body Works (BBWI - Free Report) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +158.33%. A quarter ago, it was expected that this owner of Victoria's Secret, Bath & Body Works and other chain stores would post earnings of $0.29 per share when it actually produced earnings of $0.32, delivering a surprise of +10.34%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Bath & Body Works, which belongs to the Zacks Retail - Miscellaneous industry, posted revenues of $1.51 billion for the quarter ended July 2026, surpassing the Zacks Consensus Estimate by 1.03%. This compares to year-ago revenues of $1.55 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Bath & Body Works shares have lost about 12.5% since the beginning of the year versus the S&P 500's gain of 12.2%.

What's Next for Bath & Body Works?While Bath & Body Works has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Bath & Body Works was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.27 on $1.56 billion in revenues for the coming quarter and $2.63 on $7.11 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Miscellaneous is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Ulta Beauty (ULTA - Free Report) , another stock in the same industry, has yet to report results for the quarter ended July 2026. The results are expected to be released on August 27.

This beauty products retailer is expected to post quarterly earnings of $6.20 per share in its upcoming report, which represents a year-over-year change of +7.3%. The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level.

Ulta Beauty's revenues are expected to be $2.97 billion, up 6.5% from the year-ago quarter.

COLUMBUS, Ohio, July 16, 2026 (GLOBE NEWSWIRE) -- Bath & Body Works, a global leader in personal care and home fragrance, today announced its entry into Brazil with the debut of its first store and digital destination, bathandbodyworks.com.br. This entry strengthens Bath & Body Works' global footprint as the brand expands its reach into prime international markets where consumer demand for fragrance and self-care is strong and growing.

Now open at Morumbi Shopping—one of São Paulo’s premier retail destinations—Bath & Body Works’ first store in Brazil brings the brand’s market-leading fragrance expertise to new consumers with an assortment of iconic and beloved scents across body care and home.

Brazil is recognized as one of the world’s largest beauty markets where demand for accessible, high-quality fragrance is growing. Brazilian consumers see fragrance as an essential part of their daily self-care routine, often layering multiple scents to create a more personalized experience. As a global fragrance leader with a wide portfolio of accessible, high-quality scents, Bath & Body Works is well positioned to meet this consumer demand.

"The best opportunities are where consumers already love the category,” said Daniel Heaf, Bath & Body Works chief executive officer. “Brazil is one of the largest and most passionate fragrance markets in the world, making it a natural place for Bath & Body Works. We're excited to bring our fragrances to more consumers and become part of how they express themselves every day.”

Brazilian consumers can shop a wide assortment of Bath & Body Works’ perfumer-crafted, fan-favorite collections. These include Champagne Toast, A Thousand Wishes, In the Stars, Into the Night, Gingham and Warm Vanilla Sugar across body care and home fragrance, including fine fragrance mist, body cream, lotion, eau de parfum, body wash, hand soap, 3-wick candles and more.

In addition to best-sellers and brand icons, Bath & Body Works localizes its assortments through a strong franchise partner model. By tapping into partners’ deep regional consumer expertise, the brand can refine its approach and curate product offerings that resonate with fragrance preferences across global markets.

In Brazil where demand for fruity and tropical scents is strong, the product assortment was tailored to meet these specific preferences. Consumers can explore fragrances like Waikiki Beach Coconut, Pink Pineapple Sunrise, Mango Papaya Paradise, Rainforest Falls and Sea Salt Coast.

The Viva collection, which first debuted in U.S. stores, is also represented in this assortment. It was developed alongside world-class perfumers and features fragrances inspired by Brazil’s vibrant culture, energetic spirit and breathtaking scenery.

This collection includes:

Viva Brazil, a bright, juicy blend of fresh guava, maracuja zest and coconut water. Available in body care, 3-wick and single wick candles, diffusers and hand soap.  Dreaming of Rio, an evocative escape featuring golden banana, gardenia petals and sunlit cedarwood. Available in body care.Warm Summer Evening, warm florals, calming amber and velvety sandalwood. Available in 3-wick and single wick candles and hand soap.Banana Cream Latte, a playful gourmand scent with whipped banana, smooth espresso and sweet cream. Available in a 3-wick candle. International growth remains a key pillar of the brand’s strategy to place Bath & Body Works in new environments that strengthen discovery, drive awareness and attract new consumers, creating new pathways into the brand.

Today, Bath & Body Works has more than 550 international locations spanning six continents and over 45 countries.

Driven by strong global demand, Bath & Body Works continues to accelerate international growth, expanding its store footprint and reach to consumers worldwide.

ABOUT BATH & BODY WORKS 
Bath & Body Works is a global leader in personal care and home fragrance, driven by the belief that everybody deserves to feel good. 

The brand’s beloved and iconic scents are expertly crafted for exceptional performance and a luxury fragrance experience. Formulated with thoughtfully chosen ingredients, Bath & Body Works’ body care products are available in multiple forms including fine fragrance mist, body cream, lotion, eau de parfum, body wash, hand soap, sanitizer and more. The brand’s famous 3-wick candles are made with rich, high-quality fragrance oils layered throughout a premium soy wax base, for up to 45 hours of room-filling fragrance. 

Consumers can shop Bath & Body Works anytime and anywhere they choose, from welcoming, in-store experiences at more than 1,900 stores in the U.S. and Canada, 550-plus international locations and select Ulta Beauty stores. Online, consumers can visit bathandbodyworks.com, Amazon and Ulta.com.

Media Contact:
Stephanie Ross
[email protected] 

Photos accompanying this announcement are available at

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Item 1 of 2 An Ulta Beauty store sign is pictured in the Manhattan borough of New York City, New York, U.S., March 8, 2022. REUTERS/Carlo Allegri/File Photo

[1/2]An Ulta Beauty store sign is pictured in the Manhattan borough of New York City, New York, U.S., March 8, 2022. REUTERS/Carlo Allegri/File Photo Purchase Licensing Rights, opens new tab

NEW YORK, June 23 (Reuters) - Ulta Beauty (ULTA.O), opens new tab shoppers will soon be able to purchase Bath & Body Works' (BBWI.N), opens new tab signature fragrances, hand soaps ​and candles in more than 600 stores from July 12 ‌as both companies pursue turnaround plans that include more partnerships.

Part of Bath & Body Works' "Consumer First Formula" aims to give shoppers more ways to find the company's ​lotions and candles, while the "Ulta Beauty Unleashed" strategy intends ​to launch more brand partnerships to drive sales growth.

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The partnership ⁠brings Bath & Body Works fine fragrance mist, body cream, hand ​soap, three-wick candles and plug-in air fresheners to Ulta Beauty stores.

"Home fragrance ​is a really important part of the industry, and it's not an area that Ulta has played in all that much, so we see a real ​opportunity," Bath & Body Works CEO Daniel Heaf said.

Bath & Body Works began ​selling its products on Amazon.com in February, and the e-commerce platform is helping ‌Bath & ⁠Body Works "bring new consumers to the brand," Heaf said.

"Amazon is about convenience," Heaf said. "Ulta Beauty is about discovery, trial, and the physical experience. It gives the consumers a chance to see the brand, smell ​the fragrances and ​interact with the ⁠assortment."

Ulta Beauty Chief Merchandising and Digital Officer Lauren Brindley said: "We see a meaningful whitespace opportunity to ​better serve guests across high-quality home fragrance, hand soaps, ​lotions and ⁠body care, categories that beautifully complement our assortment."

Ulta Beauty currently sells other candle brands including NEST New York for $65 and its own brand, ⁠Ulta ​Beauty Collection, for $20, according to its website. ​Bath & Body Works sells candles for $25.

There is no set end date for the partnership, ​Heaf said.

Reporting by Arriana McLymore in New York; Editing by Jamie Freed

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Arriana McLymore is a New York-based reporter covering e-commerce, online marketplaces, alternative revenue streams for retailers and in-store innovation. She previously reported on telecoms and the business of law.