Bath & Body Works, Inc. Files 2024 10-K Report

TL;DR

<b>Bath & Body Works, Inc. has filed its 2024 10-K, detailing its financial performance and corporate history.</b>

AI Summary

Bath & Body Works, Inc. (BBWI) filed a Annual Report (10-K) with the SEC on March 22, 2024. Bath & Body Works, Inc. filed its annual report on Form 10-K for the fiscal year ended February 3, 2024. The company was formerly known as L Brands, Inc. and Limited Brands Inc. The filing covers the fiscal year ending February 3, 2024, with data points from January 29, 2023, to February 3, 2024. Key financial statement dates include January 30, 2021, January 29, 2022, January 28, 2023, and February 3, 2024. The company's principal executive offices are located in Columbus, Ohio.

Why It Matters

For investors and stakeholders tracking Bath & Body Works, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Bath & Body Works' financial health and operational status for the fiscal year 2023. Understanding the company's historical name changes and fiscal year-end is crucial for tracking its evolution and comparing performance over time.

Risk Assessment

Risk Level: medium — Bath & Body Works, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the lack of specific financial performance data within the provided header information necessitates a medium risk assessment as detailed analysis requires further review of the full document.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to assess Bath & Body Works' performance and outlook.

Key Numbers

• 20240203 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240322 — Filing Date (FILED AS OF DATE)
• 0000701985-24-000010 — Accession Number (ACCESSION NUMBER)
• 2024-02-03 — Fiscal Year End Date (Fiscal Year End)
• 2023-01-28 — Previous Fiscal Year End (Fiscal Year End)
• 2022-01-29 — Prior Fiscal Year End (Fiscal Year End)
• 2021-01-30 — Earlier Fiscal Year End (Fiscal Year End)

Key Players & Entities

• Bath & Body Works, Inc. (company) — CONFORMED NAME
• L Brands, Inc. (company) — FORMER COMPANY
• LIMITED BRANDS INC (company) — FORMER COMPANY
• LIMITED INC (company) — FORMER COMPANY
• COLUMBUS (company) — CITY
• OH (company) — STATE

FAQ

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-22: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $0.50 — ange on which registered Common Stock, $0.50 Par Value BBWI The New York Stock Excha
• $1.00 — ieved associate pay equity for women at $1.00 and people of color at $0.99 (amounts a
• $0.99 — r women at $1.00 and people of color at $0.99 (amounts are relative to $1.00 in pay o

Filing Documents

• bbwi-20240203.htm (10-K) — 1755KB
• bbwi23202410kexhibit1012.htm (EX-10.12) — 66KB
• bbwi23202410kexhibit1036.htm (EX-10.36) — 107KB
• bbwi23202410kexhibit21.htm (EX-21) — 8KB
• bbwi23202410kexhibit22.htm (EX-22) — 5KB
• bbwi23202410kexhibit231.htm (EX-23.1) — 6KB
• bbwi23202410kexhibit24.htm (EX-24) — 49KB
• bbwi23202410kexhibit311.htm (EX-31.1) — 9KB
• bbwi23202410kexhibit312.htm (EX-31.2) — 9KB
• bbwi23202410kexhibit32.htm (EX-32) — 4KB
• bbwi23202410kexhibit97.htm (EX-97) — 41KB
• bbwi-20240203_g1.jpg (GRAPHIC) — 53KB
• 0000701985-24-000010.txt (&nbsp;) — 8519KB
• bbwi-20240203.xsd (EX-101.SCH) — 58KB
• bbwi-20240203_cal.xml (EX-101.CAL) — 87KB
• bbwi-20240203_def.xml (EX-101.DEF) — 201KB
• bbwi-20240203_lab.xml (EX-101.LAB) — 687KB
• bbwi-20240203_pre.xml (EX-101.PRE) — 464KB
• bbwi-20240203_htm.xml (XML) — 1087KB

Risk Factors

Item 1A. Risk Factors 7

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 20

Cybersecurity

Item 1C. Cybersecurity 20

Properties

Item 2. Properties 22

Legal Proceedings

Item 3. Legal Proceedings 23

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 23 Part II

Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24

[Reserved]

Item 6. [Reserved] 25

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 38

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 40

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 65

Controls and Procedures

Item 9A. Controls and Procedures 65

Other Information

Item 9B. Other Information 65

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 65 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 66

Executive Compensation

Item 11. Executive Compensation 66

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 66

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 66

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 66 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 67

Form 10-K Summary

Item 16. Form 10-K Summary 72

Signatures

Signatures 73 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS. General The company, which was founded in 1963 in Columbus, Ohio, has evolved over time from an apparel-based specialty retailer to a segment leader focused on home fragrance, body care and soap and sanitizer products operating under the Bath & Body Works, White Barn and other brand names. We care about our customers and believe in giving them a reason to celebrate with fragrance every day. We remain committed to improving our communities and fostering a diverse, equitable and inclusive culture that is focused on delivering exceptional fragrances and experiences. We offer a breadth of exclusive fragrances for the body and home, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. For more than 30 years, customers have looked to Bath & Body Works for quality, on-trend products and the newest, freshest fragrances. We intend to transform an already strong foundation into a leading global omnichannel personal care and home fragrance brand. Throughout this Annual Report on Form 10-K, we refer to Bath & Body Works, Inc. as "we" and the "Company." As of February 3, 2024, our merchandise was sold through 1,850 Company-operated stores and e-commerce sites in the United States of America ("U.S.") and Canada, and in 485 stores and 28 e-commerce sites in more than 40 other countries operating under franchise, license and wholesale arrangements. All discussion within this Annual Report on Form 10-K, including amounts, percentages and disclosures for all periods presented, reflect only the continuing operations of the Company unless otherwise noted. As such, the Victoria's Secret business subject to the spin-off completed on August 2, 2021 has been excluded. See Note 2 to the Consolidated Financial Statements included in Item 8. Financial Statements and Supplementary Data for additional information regarding the spin-off. Fiscal Year Our fiscal year ends on th

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View this 10-K filing on SEC EDGAR