Bath & Body Works Offers Preliminary Q1 Results, Announces Former Nike Exec as New CEO

Bath & Body Works is soon set to have a new CEO helming the company, as CNBC reported, its second in fewer than three years.

Daniel Heaf — formerly Nike’s chief strategy and transformation officer before his position was axed by the footwear company’s new CEO, Elliott Hill — will be taking over from Gina Boswell. Boswell stepped down from her role as CEO and a board member, effective immediately.

“Through a strategic search, the Board recognized a rare and exciting opportunity to bring on Daniel as the next CEO of Bath & Body Works,” said Sarah Nash, chair of Bath & Body Works’ board, per a May 19 press release.

“Daniel is a forward-thinking leader with a remarkable track record of driving innovative, transformative growth across iconic global brands. He brings bold and direct leadership which energizes and inspires teams to rally behind him. 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. Daniel, his leadership team, and the Board will partner closely to develop a forward-looking strategy that honors the company’s legacy while embracing bold, necessary transformation to meet consumers where they are,” Nash added.

Bath & Body Works Delivers First-Quarter Earnings Beat

Alongside headlines outlining the health, home, and beauty brand’s leadership swap came news that the company had preannounced its Q1 results, delivering modest beats on both the revenue and earnings fronts.

Concerning the quarter that ended May 3, Bath & Body Works saw net sales trend upward by 3% on a year-over-year basis, while earnings per share (EPS) came in at 49 cents, a figure that was significantly higher than the 38 cents delivered in 2024. And while the net sales figure for Q1 2025 was still within the company’s projected guidance range estimates — albeit at the high end of the range — the retailer did beat EPS expectations.

While maintaining its initial 2025 full-year guidance regarding net sales of 1% to 3% growth and $3.25 to $3.60 in diluted EPS, the company’s press release did lay out an explicit disclaimer regarding the potential effect of a still-turbulent tariff policy on potential adjustments.

“Our forward-looking guidance reflects the impact of the initial 10% tariff on goods imported from China and excludes potential impacts from other possible tariff changes,” the company underlined.