Headlines

Bath & Body Works Continues Off-Mall Move

Specialty retailer plans to open 90 such units and close 50 mall locales in coming year

Published

1 year ago

February 24, 2023

VMSD Staff

Bath & Body Works Continues Off-Mall Move — iStock, Brett_Hondow

iStock, Brett_Hondow

Bath & Body Works (Columbus, Ohio) will continue to focus on off-mall locales in the coming year, executives of the specialty retailer said during the conference call related to its fourth quarter and full fiscal-year 2022 earnings results.

As reported by Retail Dive, B&BW executives said the chain plans to open 90 off-mall stores and close about 50 mall-based ones in its coming fiscal year. Last year, most of the 48 stores that the retailer permanently closed were in malls, while 95 new off-mall stores opened in North America.

As for its financial results, Bath & Body Works net sales from continuing operations were $7.56 billion for the year ended Jan. 28, 2023, down from $7.88 billion a year earlier. In addition, full-year net income from continuing operations totaled $794 million, a drop from just over $1 billion a year earlier.

The company sells soaps, lotions, fragrances and candles. It has more than 1785 company-operated locations in the U.S. and Canada and more than 390 international franchised locations.

VMSD Staff

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