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17	17	[[image:bats004_bbw_logo.png||alt="BBWI logo" height="166" style="float:left" width="295"]]Bath & Body Works, Inc. (NYSE:BBWI) is an American company focused on home fragrance, body care and soaps s and sanitizer products operating under the Bath & Body Works, White Barn and other brand names. The company was founded in 1963 in Columbus, Ohio as an apparel-based specialty retailer. Now as of January 28, 2023, the company's merchandise are sold through 1,802 company-operated stores and e-commerce sites in the United States of America ("U.S.") and Canada, and in 427 stores and 31 e-commerce sites in more than 45 other countries operating under franchise, license and wholesale arrangements.
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19		-BBWI's in-store design, visual marketing, storytelling, fixtures, scents, and music are employed to create a unique shopping experience. In-store sales represent a significant source of revenue for the company. Furthermore, in addition to enhancing the in-store experience, BBWI strives to create a customer-centric digital platform that integrates the digital and physical brand experience to boost sales. BBWI manages these operations through a domestic, vertically integrated supply chain. The company's supplier base comprises third-party vendors, with the majority of products being manufactured at Beauty Park, a business park housing several key vendors in close proximity to its distribution centers in Columbus, Ohio. While the company-owned distribution centers in central Ohio serve as the control center for operations, BBWI also utilizes third-party distribution centers located across North America to position inventory geographically closer to its customers. Additionally, they make use of third-party-operated direct channel fulfillment centers and pop-up fulfillment facilities throughout North America to meet their peak demand requirements.
	19	+BBWI's in-store design, visual marketing, storytelling, fixtures, scents, and music are employed to create a unique shopping experience.{{footnote}}https://www.pymnts.com/news/retail/2022/bath-body-works-highlights-innovation-expansion/{{/footnote}} In-store sales represent a significant source of revenue for the company. Furthermore, in addition to enhancing the in-store experience, BBWI strives to create a customer-centric digital platform that integrates the digital and physical brand experience to boost sales. BBWI manages these operations through a domestic, vertically integrated supply chain. The company's supplier base comprises third-party vendors, with the majority of products being manufactured at Beauty Park, a business park housing several key vendors in close proximity to its distribution centers in Columbus, Ohio. While the company-owned distribution centers in central Ohio serve as the control center for operations, BBWI also utilizes third-party distribution centers located across North America to position inventory geographically closer to its customers. Additionally, they make use of third-party-operated direct channel fulfillment centers and pop-up fulfillment facilities throughout North America to meet their peak demand requirements.
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22	22	[[image:96a4017 1200xx2400-1350-0-125.jpg||alt="bath & body works inc cover photo"]]
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26	26	= Recent Developments =
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28	28	* In the year 2022, the company expanded a service or system known as "buy online-pickup in store" (often abbreviated as BOPIS) in more than 800 stores that are owned and operated by the company itself.
29		-* During 2022, BBWI opened 95 new, off-mall stores and permanently closed 48 stores, principally in malls, in North America, resulting in net square footage growth of 5% for the year.
	29	+* During 2022, BBWI opened 95 new, off-mall stores and permanently closed 48 stores, principally in malls, in North America, resulting in net square footage growth of 5% for the year.{{footnote}}https://www.retaildive.com/news/bath-body-works-loyalty-program-members-three-quarters-sales-earnings/691637/{{/footnote}}
30	30	* In August 2022, the company launched a nationwide loyalty program in the U.S. as part of its investment in customer experience, aiming to attract more customers to the loyalty program. This involved integrating the program across social, physical, and digital interactions and planning for future program enhancements, such as accelerators and flexible rewards. Since its launch in August 2022, this loyalty program has represented approximately two-thirds of U.S. sales.
31		-* In February 2022, the Board authorized a new $1.5 billion share repurchase program (the "February 2022 Program"). As part of the February 2022 Program, the Company entered into an accelerated share repurchase program ("ASR") under which the Company repurchased $1 billion of its own outstanding common stock.
	31	+* In February 2022, the Board authorized a new $1.5 billion share repurchase program (the "February 2022 Program").{{footnote}}https://www.marketwatch.com/story/bath-body-works-shares-rise-after-record-sales-15-billion-share-buyback-program-dividend-hike-2022-02-02{{/footnote}} As part of the February 2022 Program, the Company entered into an accelerated share repurchase program ("ASR") under which the Company repurchased $1 billion of its own outstanding common stock.
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33	33	= Financial Performance Highlights =
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55	55	= Business Overview =
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57		-Bath & Body Works, Inc. is an Omni channel retailer that sells merchandise through its Company-operated retail stores in the United States of America ("U.S.") and Canada, and through its websites and other channels, under the Bath & Body Works, White Barn and other brand names.The Company's international business is primarily conducted through franchise, license and wholesale partners. The Company operates as and reports single segment that includes all of its continuing operations. They offer wide range of products include:
	57	+Bath & Body Works, Inc. is an Omni channel retailer that sells merchandise through its Company-operated retail stores in the United States of America ("U.S.") and Canada, and through its websites and other channels, under the Bath & Body Works, White Barn and other brand names.The Company's international business is primarily conducted through franchise, license and wholesale partners.{{footnote}}https://markets.ft.com/data/equities/tearsheet/profile?s=LTD0:FRA{{/footnote}} The Company operates as and reports single segment that includes all of its continuing operations. They offer wide range of products include:
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59	59	**Body Care (Bath & Shower):**
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171	171	In 2021, L Brands announced a pivotal restructuring. Victoria's Secret and Bath & Body Works were recast into two separate publicly traded companies. This transition was successfully completed by August 3, 2021, marking a significant transformation in the corporate landscape. Andrew Meslow assumed the role of CEO of Bath & Body Works, while Martin Waters took the helm at Victoria's Secret after the split.
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173	173	On August 3, 2022, the official split into two independent companies took effect, with Victoria's Secret and Bath & Body Works beginning to trade individually on the New York Stock Exchange. The era of L Brands was officially behind them, and the company officially changed its name to Bath & Body Works.
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	175	+{{putFootnotes/}}