Jul 2026 (Q2 FY26) — Aug 26, 2026
Bath & Body Works Q2 FY26 — Digital Growth and Strategic Progress Exceed Expectations
Read the full callBath & Body Works (BBWI) earnings
- Aug 2026
- Jul 2026 (Q2 FY26)
- Jan 2026
Bath & Body Works earnings: last reported Wed, 26 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,514 | −2.3% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 14.3 | +4.1 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 118 | +84.4% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
26 of 47 judged targets kept · 57 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Earnings per diluted share | $0.20 to $0.25 | Apr 2026 | adjusted earnings per diluted share was $0.62, above our guidance range of $0.20 to $0.25. | Achieved |
| Debt paydown | approximately $314 million | Jul 2024 | Ghosted | |
| Capital expenditures | $250 million to $270 million | Jan 2025 | now we expect capital expenditures of approximately $240 million for fiscal 2026, down from prior guidance, reflecting savings in real estate and other projects. | Revised Up |
21 of Bath & Body Works, Inc.'s 104 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 101 more targets are in the full ledger.
Claimed
- Net sales declined 2.3%, ahead of guidance of down 5% to down 3%.
- Adjusted earnings per diluted share was $0.62, above guidance of $0.20 to $0.25.
- Owned digital business returned to growth, improving 4 percentage points sequentially from Q1.
- Expanded distribution (Amazon) net sales more than tripled compared with Q1.
- International retail sales increased 9% versus last year.
Qualified
- Underlying business remains pressured, with performance not yet where management wants it to be.
- Store traffic remains pressured, contributing to a 5.4% decline in U.S. and Canadian store net sales.
- Body care sales declined mid-single digits, remaining below expectations despite sequential improvement.
- Forward tariff pressure and input cost inflation of approximately $30 million is expected in H2 FY26.
Price
$20.14 −1.47% · −$0.3
Performance −21.9% 1Y
1Y: $25.8 on 15 Oct 2025 → $20.14. High $27.05 (23 Oct 2025), low $14.85 (21 Nov 2025).
- Previous close
- $20.44
- 52-week range
- $14.85 – $27.05
- One year
- −22.57%
Overview
- Symbol
- BBWI
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
26 of 47 judged targets kept · 57 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Earnings per diluted share | $0.20 to $0.25 | Apr 2026 | adjusted earnings per diluted share was $0.62, above our guidance range of $0.20 to $0.25. | Achieved |
| Debt paydown | approximately $314 million | Jul 2024 | Ghosted | |
| Capital expenditures | $250 million to $270 million | Jan 2025 | now we expect capital expenditures of approximately $240 million for fiscal 2026, down from prior guidance, reflecting savings in real estate and other projects. | Revised Up |
Claimed
- Net sales declined 2.3%, ahead of guidance of down 5% to down 3%.
- Adjusted earnings per diluted share was $0.62, above guidance of $0.20 to $0.25.
- Owned digital business returned to growth, improving 4 percentage points sequentially from Q1.
- Expanded distribution (Amazon) net sales more than tripled compared with Q1.
- International retail sales increased 9% versus last year.
Qualified
- Underlying business remains pressured, with performance not yet where management wants it to be.
- Store traffic remains pressured, contributing to a 5.4% decline in U.S. and Canadian store net sales.
- Body care sales declined mid-single digits, remaining below expectations despite sequential improvement.
- Forward tariff pressure and input cost inflation of approximately $30 million is expected in H2 FY26.
The full ledger
Open Bath & Body Works, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 104 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q1 FY27) — May 27, 2026
Bath & Body Works Q1 FY27 — Transformation Progress Amidst Continued Pressure
Read the full callJan 2026 (Q4 FY26) — Mar 4, 2026
Bath & Body Works Q4 FY26 — Consumer First Formula Drives Sequential Improvement
Read the full callEvery analysed call
Bath & Body Works earnings calls (BBWI)
Financials
What the filings say
Net profit, year on year: +84% (quarter to aug 2026 against aug 2025).
| Line item | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Jan 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,610 | 2,787 | 1,424 | 1,549 | 1,594 | 2,724 | 1,378 | 1,514 |
| Operating profit | 218 | 678 | 209 | 157 | 161 | 599 | 231 | 216 |
| Operating margin | 13.5% | 24.3% | 14.7% | 10.1% | 10.1% | 22.0% | 16.8% | 14.3% |
| Interest | 77 | 76 | 71 | 68 | 68 | 69 | 69 | 63 |
| Profit before tax | 145 | 612 | 146 | 95 | 103 | 538 | 166 | 164 |
| Tax rate | 26.9% | 26.0% | 28.1% | 32.6% | 25.2% | 25.1% | −10.2% | 28.1% |
| Net profit | 106 | 453 | 105 | 64 | 77 | 403 | 183 | 118 |
| EPS ($ per share) | 0.49 | — | 0.49 | 0.31 | 0.38 | — | 0.91 | 0.59 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 141 | 142 | 143 | 134 | 122 | 120 | 115 | 108 |
| Reserves | -1,482 | -2,182 | -1,421 | -1,803 | -2,401 | -1,838 | -1,578 | -1,435 |
| Total liabilities | 8,955 | 11,620 | 12,232 | 7,543 | 7,699 | 7,089 | 6,255 | 6,348 |
| Fixed assets | 2,818 | 2,486 | 1,017 | 1,009 | 1,193 | 1,220 | 1,127 | 1,127 |
| Total assets | 8,090 | 10,125 | 11,571 | 6,026 | 5,494 | 5,463 | 4,872 | 5,069 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,377 | 1,236 | 2,039 | 1,492 | 1,144 | 954 | 886 | 1,102 |
| Cash from investing | -609 | -480 | -219 | -259 | -328 | -286 | -162 | -227 |
| Cash from financing | -872 | -666 | 610 | -3,188 | -1,562 | -815 | -1,132 | -599 |
| Net cash flow | -102 | 86 | 2,434 | -1,954 | -747 | -148 | -410 | 279 |
| Capital expenditure | -629 | -458 | -228 | -270 | -328 | -298 | -226 | -237 |
| Free cash flow | 748 | 778 | 1,811 | 1,222 | 816 | 656 | 660 | 865 |
BBWI revenue by segment
| Segment | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Reportable | 100% | 100% | 100% | 100% | 100% | 100% | -2.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
BBWI operating KPIs by quarter
| KPI | Jan 2026 Q4 FY26 | Apr 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|
| New stores opened North America | 21In the quarter, we opened 21 new North American stores, all off-mall and closed 28 stores, primarily in malls.Source: earnings call transcript | 13And in the quarter, we opened 13 new North American stores, all off-mall; and closed 17 stores, primarily in malls.Source: earnings call transcript | — | -38.1% |
| Stores closed North America | 28In the quarter, we opened 21 new North American stores, all off-mall and closed 28 stores, primarily in malls.Source: earnings call transcript | 17And in the quarter, we opened 13 new North American stores, all off-mall; and closed 17 stores, primarily in malls.Source: earnings call transcript | — | -39.3% |
| New stores opened International | 36International partners opened 36 stores and closed 7 stores in Q4 with 44 net new stores in the year.Source: earnings call transcript | 8International partners opened 8 stores and closed 2 stores in the first quarter.Source: earnings call transcript | 17International partners opened 17 stores.Source: earnings call transcript | +112.5% |
| Stores closed International | 7International partners opened 36 stores and closed 7 stores in Q4 with 44 net new stores in the year.Source: earnings call transcript | 2International partners opened 8 stores and closed 2 stores in the first quarter.Source: earnings call transcript | — | -71.4% |
| Stores International | 573We ended the year with 573 international locations.Source: earnings call transcript | 579We ended the quarter with 579 international locations.Source: earnings call transcript | 596We ended the quarter with 1,937 North American company-owned stores with approximately 60% of our fleet in off-mall locations and 596 international locations.Source: earnings call transcript | +2.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2027 · share of revenue
- International 11% ↑ 1 pt
As BBWI cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
25 filings between Nov 21, 2025 and Aug 10, 2026.
Open market
decisions to buy or sellPurchases
$1.01M
6 purchases by 6 insiders
Sales
None
No insider sold shares.
Compensation
not trading decisions- 15
- Award — granted as compensation
- 4
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Symancyk James Kevin | $350.6K | — | Nov 24, 2025 |
| Voskuil Steven E | $300.7K | — | Nov 21, 2025 |
| Nash Sarah E | $155.8K | — | Nov 24, 2025 |
| STEINOUR STEPHEN D | $99.5K | — | Nov 21, 2025 |
| Hondal Francis | $50.1K | — | Nov 21, 2025 |
| Brady Lucy | $50.0K | — | Nov 21, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 10, 2026 | Aber Ann Chief Legal Officer &Corp Secy | Award | 12,940 | $0 |
| Jun 12, 2026 | Javitch Tom Interim CFO | Award | 10,309 | $0 |
| Jun 11, 2026 | Brady Lucy Director | Award | 7,970 | $0 |
| Jun 11, 2026 | Nash Sarah E Director | Award | 13,284 | $0 |
| Jun 11, 2026 | Hondal Francis Director | Award | 7,970 | $0 |
| Jun 11, 2026 | Rajlin Juan Director | Award | 7,970 | $0 |
| Jun 11, 2026 | STEINOUR STEPHEN D Director | Award | 7,970 | $0 |
| Jun 11, 2026 | Symancyk James Kevin Director | Award | 7,970 | $0 |
| Jun 11, 2026 | Voskuil Steven E Director | Award | 7,970 | $0 |
| Jun 11, 2026 | Lee Danielle M. Director | Award | 7,970 | $0 |
| Jun 11, 2026 | Bogliolo Alessandro Director | Award | 7,970 | $0 |
| May 19, 2026 | Mazurek Thomas E. Chief Supply Chain Officer | Award | 6,616 | $0 |
| May 19, 2026 | Mazurek Thomas E. Chief Supply Chain Officer | Tax withheld | 4,127 | $66.5K |
| May 16, 2026 | Heaf Daniel CEO | Tax withheld | 7,334 | $125.3K |
| Mar 13, 2026 | Boratto Eva C Chief Financial Officer | Tax withheld | 10,782 | $210.2K |
| Mar 13, 2026 | Mazurek Thomas E. Chief Supply Chain Officer | Tax withheld | 6,327 | $123.4K |
| Mar 12, 2026 | Boratto Eva C Chief Financial Officer | Award | 115,815 | $0 |
| Mar 12, 2026 | Mazurek Thomas E. Chief Supply Chain Officer | Award | 40,921 | $0 |
| Mar 12, 2026 | Heaf Daniel CEO | Award | 212,993 | $0 |
| Nov 24, 2025 | Nash Sarah E Director | Purchase | 10,000 | $155.8K |
| Nov 24, 2025 | Symancyk James Kevin Director | Purchase | 22,500 | $350.6K |
| Nov 21, 2025 | Brady Lucy Director | Purchase | 3,470 | $50.0K |
| Nov 21, 2025 | Hondal Francis Director | Purchase | 3,343 | $50.1K |
| Nov 21, 2025 | STEINOUR STEPHEN D Director | Purchase | 6,700 | $99.5K |
| Nov 21, 2025 | Voskuil Steven E Director | Purchase | 20,000 | $300.7K |
| Aug 1, 2025 | Boratto Eva C Chief Financial Officer | Tax withheld | 6,533 | $184.0K |
| Jun 5, 2025 | Nash Sarah E Director | Award | 9,402 | $0 |
| Jun 5, 2025 | Bogliolo Alessandro Director | Award | 5,641 | $0 |
| Jun 5, 2025 | Brady Lucy Director | Award | 5,641 | $0 |
| Jun 5, 2025 | Hondal Francis Director | Award | 5,641 | $0 |
| Jun 5, 2025 | Lee Danielle M. Director | Award | 5,641 | $0 |
| Jun 5, 2025 | Rajlin Juan Director | Award | 5,641 | $0 |
| Jun 5, 2025 | STEINOUR STEPHEN D Director | Award | 5,641 | $0 |
| Jun 5, 2025 | Symancyk James Kevin Director | Award | 5,641 | $0 |
| Jun 5, 2025 | Voskuil Steven E Director | Award | 5,641 | $0 |
| May 28, 2025 | Mazurek Thomas E. Chief Supply Chain Officer | Award | 3,900 | $0 |
| May 28, 2025 | Mazurek Thomas E. Chief Supply Chain Officer | Tax withheld | 1,390 | $42.4K |
| May 28, 2025 | Wu Michael C. Chief Legal Officer &Corp Secy | Award | 7,150 | $0 |
| May 28, 2025 | Wu Michael C. Chief Legal Officer &Corp Secy | Tax withheld | 3,243 | $98.8K |
| May 28, 2025 | Wu Michael C. Chief Legal Officer &Corp Secy | Award | 7,150 | $0 |
| May 28, 2025 | Wu Michael C. Chief Legal Officer &Corp Secy | Tax withheld | 3,243 | $98.8K |
| May 23, 2025 | Heaf Daniel CEO | Award | 82,590 | $0 |
| May 19, 2025 | Mazurek Thomas E. Chief Supply Chain Officer | Tax withheld | 1,693 | $56.9K |
| May 19, 2025 | Wu Michael C. Chief Legal Officer &Corp Secy | Tax withheld | 2,301 | $77.3K |
| Mar 13, 2025 | Wu Michael C. Chief Legal Officer &Corp Secy | Award | 28,330 | $0 |
| Mar 13, 2025 | Mazurek Thomas E. Chief Supply Chain Officer | Award | 30,668 | $0 |
| Mar 13, 2025 | Boswell Gina Chief Executive Officer | Award | 111,775 | $0 |
| Mar 13, 2025 | Boratto Eva C Chief Financial Officer | Award | 50,088 | $0 |
| Mar 12, 2025 | Boswell Gina Chief Executive Officer | Tax withheld | 9,474 | $269.5K |
| Mar 12, 2025 | Boratto Eva C Chief Financial Officer | Tax withheld | 2,742 | $78.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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