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Bath & Body Works (BBWI)

Bath & Body Works is one of the world's leading specialty retailers and home to America's Favorite Fragrances® offering a breadth of exclusive fragrances for the body and home, including the #1 selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. For more than 30 years, customers have looked to Bath & Body Works for quality, on-trend products and the newest, freshest fragrances. Today, these fragrant products can be purchased at more than 1,750 company-operated Bath & Body Works locations in the U.S. and Canada, and more than 300 international franchised locations, as well as on bathandbodyworks.com.

Company profile

Ticker
BBWI
Exchange
Website
CEO
Andrew Meslow
Employees
Incorporated
Location
Fiscal year end
Former names
L Brands, Inc., LIMITED BRANDS INC, LIMITED INC
SEC CIK
Subsidiaries
Bath & Body Works Brand Management, Inc. • Bath & Body Works Direct, Inc. • Bath & Body Works, LLC • Beauty Specialty Holding, LLC • L Brands (Overseas), Inc. • L Brands Service Company, LLC • Retail Store Operations, Inc. ...
IRS number
311029810

BBWI stock data

Calendar

2 Sep 22
1 Oct 22
28 Jan 23
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Feb 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 452M 452M 452M 452M 452M 452M
Cash burn (monthly) 66.33M 178M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 136.53M 366.36M n/a n/a n/a n/a
Cash remaining 315.47M 85.64M n/a n/a n/a n/a
Runway (months of cash) 4.8 0.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Aug 22 Nash Sarah E Common Stock, $0.50 par value Payment of exercise Dispose F No No 38.66 256 9.9K 23,213
20 Aug 22 Nash Sarah E Common Stock, $0.50 par value Option exercise Acquire M No No 0 2,829 0 23,469
20 Aug 22 Nash Sarah E Stock Unit Common Stock, $0.50 par value Option exercise Dispose M No No 0 2,829 0 3,770
18 Aug 22 Michael C. Wu Common Stock, $0.50 par value Payment of exercise Dispose F No No 40.26 341 13.73K 26,276
18 Aug 22 Julie Rosen Common Stock, $0.50 par value Payment of exercise Dispose F No No 40.26 916 36.88K 61,112
18 Aug 22 Deon Riley Common Stock, $0.50 par value Payment of exercise Dispose F No No 40.26 916 36.88K 44,111
18 Aug 22 Wendy C. Arlin Common Stock, $0.50 par value Payment of exercise Dispose F No No 40.26 906 36.48K 96,124
13F holders Current Prev Q Change
Total holders 0 9 EXIT
Opened positions 0 9 EXIT
Closed positions 9 1 +800.0%
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 14.34M EXIT
Total shares 0 297.98K EXIT
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change
Jackson Square Capital 0 -81.32K EXIT
KWMG 0 -75.59K EXIT
Yarger Wealth Strategies 0 -73.47K EXIT
Monument Capital Management 0 -31.67K EXIT
PDS Planning 0 -17.79K EXIT
Strategy Asset Managers 0 -9.9K EXIT
Jag Capital Management 0 -7.03K EXIT
CWM 0 -1.19K EXIT
Bedel Financial Consulting 0 -16 EXIT

Financial report summary

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Risks
  • Our net sales, profit results and cash flows are sensitive to, have been affected by and may in the future be further impacted by, general economic conditions, inflation, consumer confidence, spending patterns, significant health hazards or pandemics, weather or other market disruptions.
  • The COVID-19 pandemic has had and may continue to have an adverse effect on our business and results of operations.
  • Our net sales, operating income, cash and inventory levels fluctuate on a seasonal basis.
  • We may not realize the anticipated benefits from the Separation, which could harm our business.
  • The Separation could result in substantial tax liability to us and our stockholders.
  • Victoria’s Secret & Co. continues to provide information technology services to us on a transitional basis, and we may incur significant costs to perform these services ourselves following the transition period. Any inadequacy, interruption, integration failure or security failure of this technology could harm our ability to effectively operate our business.
  • Turnover in Company leadership or other key positions may have an adverse impact on Company performance.
  • We may be impacted by our ability to attract, develop and retain qualified associates and manage labor-related costs.
  • Our net sales depend on a volume of traffic to our stores and the availability of suitable lease space.
  • Our continued growth and success depends in part on new store openings and existing store remodels and expansions.
  • Our international operations and our plans for international expansion include risks that could impact our results and reputation.
  • Our licensees, franchisees and wholesalers could take actions that could harm our business or brand images.
  • Our direct channel business includes risks that could have a material adverse effect on our results.
  • Our ability to protect our reputation could have a material effect on our brand image.
  • Our ability, or perceived inability, to complete environmental, social and governance initiatives may have a material effect on our reputation.
  • If our marketing, advertising and promotional programs are unsuccessful, or if our competitors are more effective with their programs than we are, our results of operations, financial condition and cash flows may be adversely affected.
  • Our ability to adequately maintain, enforce and protect our trade names, trademarks and patents could have an impact on our brand images and ability to penetrate new markets.
  • Our ability to compete favorably in our highly competitive segments of the retail industry could impact our results.
  • Our ability to manage the life cycle of our brand and to remain current with trends and launch new product lines successfully could impact the image and relevance of our brand.
  • We may be impacted by our ability to adequately source, distribute and sell merchandise and other materials on a global basis.
  • We rely on a number of vendor and distribution facilities located in the same vicinity, making our business susceptible to local and regional disruptions or adverse conditions.
  • A change in the relationship with our key vendors could have a material effect on our business.
  • We may be impacted by our vendors’ ability to manufacture and deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations.
  • Fluctuations in foreign currency exchange rates could impact our results of operations, financial condition and cash flows.
  • Our results may be affected by fluctuations in product input costs.
  • Our results may be affected by fluctuations in energy costs.
  • Our results may be impacted by our ability to adequately protect our assets from loss and theft.
  • We may be impacted by increases in the cost of mailing, paper, printing or other order fulfillment logistics.
  • We self-insure certain risks and may be impacted by unfavorable claims experience.
  • We significantly rely on our and our third-party service providers', including Victoria's Secret & Co., ability to implement and sustain information technology systems and to protect associated data and system availability.
  • Any significant compromise or breach of our data security, including the security of customer, associate, third-party or Company information, could have a material adverse effect on our reputation, results of operations, financial condition and cash flows.
  • Our stock price may be volatile.
  • If we are unable to pay quarterly dividends or repurchase our shares at intended levels, our reputation and stock price may be impacted.
  • Shareholder activism could cause us to incur significant expense, hinder execution of our business strategy and impact our stock price.
  • Our ability to maintain our credit ratings could affect our ability to access capital and could increase our interest expense.
  • We may be unable to service or refinance our debt or maintain compliance with restrictive covenants in our debt instruments, including our asset-backed revolving credit facility.
  • The interest rates on our credit facilities may be impacted by the phase-out of LIBOR and the transition to the Secured Overnight Financing Rate (“SOFR”).
  • Changes in laws, regulations or technology platform rules relating to data privacy and security, or any actual or perceived failure by us to comply with such laws and regulations, or contractual or other obligations relating to data privacy and security, could have a material adverse effect on our reputation, results of operations, financial condition and cash flows.
  • We may be impacted by our ability to comply with regulatory requirements.
  • We may be adversely impacted by certain compliance or legal matters.
  • We may be impacted by changes in taxation, trade and other regulatory requirements.
Management Discussion
  • (a)Results include royalties associated with franchised stores and wholesale sales.
  • For the second quarter of 2022, net sales decreased $86 million to $1.618 billion compared to the second quarter of 2021. Net sales decreased in the stores channel by $69 million, or 6%, primarily due to both a decrease in transactions and lower average dollar sale. Direct net sales decreased $40 million, or 10%, partially due to last year's strong results as well as our customers continuing to select our buy online-pick up in store option (which is recognized as store net sales). These decreases were partially offset by a $23 million, or 35%, increase in international net sales primarily due to the new stores opened by our partners as well as timing of wholesale shipments.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: agility, capacity, expenditure, organization, organizational, peak, pursuing, realigned, simplified, soap, Stable, twelve
Removed: declaration, declared, deposit, exclude, foreseeable, improving, lending, negatively, recently, reflected, response, system, terminated, vested