By Sarina Isaacs
Bath & Body Works said it named Daniel Heaf as its new chief executive to succeed Gina Boswell, effective immediately.
The company also said on Monday that it expects higher fiscal first-quarter earnings per share that will surpass previous guidance and analyst views.
Boswell, who is leaving the company after about two and a half years on the job, is also stepping down from the board, the company said.
The Columbus, Ohio, personal-care retail chain said the board seized a "rare" opportunity to bring in Heaf.
"His vision for evolving Bath & Body Works to be highly coveted, relevant, and resonant for customers everywhere--combined with his consumer-first mindset--make him the right person to lead Bath & Body Works," it said.
Heaf previously served in various leadership roles at Nike, including chief strategy and transformation officer, said Bath & Body Works. His compensation will include base pay of $1.35 million and a target annual incentive opportunity equal to 190% of base salary, said the company.
Heaf, 47 years old, will be appointed to the board immediately after the June 5 annual shareholder meeting, Bath & Body Works said.
Bath & Body Works also said on Monday that preliminary fiscal first-quarter earnings totaled 49 cents per share, up from 38 cents a year earlier and better than prior guidance. Analysts are seeking 42 cents per share, according to FactSet.
Revenue for the quarter is seen up 3% to $1.42 billion, the company said, at the high end of its previous guidance range and aligning with analyst expectations.
For the full year, sales should still rise 1% to 3%, as previously expected, with earnings guidance maintained at $3.25 to $3.60 per share, the company said. The estimates reflect the impact of the initial 10% tariff on goods imported from China, the company said, while excluding potential impacts from other possible tariffs.
Write to Sarina Isaacs at sarina.isaacs@wsj.com
(END) Dow Jones Newswires
May 19, 2025 09:39 ET (13:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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