Bath & Body Works (BBWI) saw its shares decline following a sudden executive leadership change. CEO Gina Boswell has stepped down with immediate effect, and the company has appointed Daniel Heaf, a former Nike executive, as her replacement. The company did not provide a specific reason for Boswell’s departure, leading to speculation about the abrupt transition.
New CEO Daniel Heaf Brings Bold Vision as Q1 Results Exceed Expectations
Board Chair Sarah Nash praised Daniel Heaf as a “forward-thinking leader” known for driving transformative growth at major global brands. She emphasized that Heaf, along with the leadership team and board, would work closely to develop a future-focused strategy that respects Bath & Body Works’ heritage while evolving to meet current consumer expectations.
Bath & Body Works Stock Dips as CEO Gina Boswell Exits and Daniel Heaf Takes the HelmIn addition to the leadership change, Bath & Body Works shared strong preliminary financial results for the first quarter. The company reported earnings per share of $0.49, with net sales increasing by 3% year-over-year to $1.42 billion. Both figures exceeded the upper end of its prior guidance range, reflecting better-than-expected performance.
Bath & Body Works Reaffirms 2025 Outlook Amid Leadership Shift and Market Headwinds
Despite concerns over market conditions and leadership changes, Bath & Body Works reiterated its 2025 guidance. It expects full-year earnings per share to range between $3.25 and $3.60, with revenue projected to grow by 1% to 3%. The company originally issued this guidance in February, citing potential headwinds from tariffs and soft consumer demand.
Investors reacted cautiously to the news, with BBWI shares falling by 1.2% following the announcements. The stock has declined approximately 14% since the beginning of the year, reflecting broader investor uncertainty amid leadership transitions and macroeconomic challenges. The coming quarters will be pivotal as the new CEO works to execute a renewed growth strategy.
