Retailer Bath & Body Works (BBWI) has named former Nike (NKE) executive Daniel Heaf as its new CEO, effective immediately.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Heaf becomes the second chief executive at Bed & Body Works in less than three years. The retail chain that specializes in personal care and beauty products announced Heaf’s appointment after former CEO Gina Boswell took a leave of absence from the company.
Heaf most recently served as Nike’s chief strategy and transformation officer. However, his role at the sneaker giant was eliminated by Nike’s CEO Elliott Hill. Boswell had helmed Bath & Body Works since December 2022. But in March of this year, the company disclosed that Boswell would undergo surgery and take a leave of absence.
Return to Growth
As CEO, Boswell was charged with returning Bath & Body Works to growth following the Covid-19 pandemic when many of the company’s stores were forced to close or operate at reduced capacity. The retailer best known for its scented soaps is well-positioned in today’s environment as its supply chain is concentrated in North America, reducing exposure to U.S. President Donald Trump’s import tariffs.
Along with the CEO announcement, Bath & Body Works preannounced its first-quarter financial results. The company said its revenue grew 3% year-over-year to $1.42 billion, while its earnings per share (EPS) of $0.49 was up from $0.38 a year earlier. BBWI stock has declined 13% this year.
Is BBWI Stock a Buy?
Bath & Body Works stock has a consensus Strong Buy rating among 15 Wall Street analysts. That rating is based on 13 Buy and two Hold recommendations issued in the last three months. The average BBWI price target of $42.47 implies 26.89% upside from current levels.
