Value2020202120222023TTMSelling/general/admin expenses1.85 B1.88 B1.95 B1.97 B2.04 BResearch & development—————Operating income2.01 B1.38 B1.28 B1.27 B1.21 BNon-Operating Income, Total198 M17 M81 M74 M34 MInterest expense, net of interest capitalized388 M348 M345 M312 M284 MNon-Operating Income, excl. Interest Expenses8 M-348 M-345 M-312 M-284 MUnusual income/expense-198 M17 M81 M74 M34 MPretax income1.42 B1.04 B1.02 B1.03 B956 MEquity in earnings—————Taxes348 M251 M143 M230 M257 MNon-controlling/minority interest—————After tax other income/expense—————Net income before discontinued operations1.07 B794 M878 M798 M693 MDiscontinued operations258 M6 M00—Net income1.33 B800 M878 M798 M699 MDilution adjustment—————Preferred dividends—————Diluted net income available to common stockholders1.33 B800 M878 M798 M699 MBasic earnings per share (Basic EPS)4.963.453.863.623.24Diluted earnings per share (Diluted EPS)4.883.433.843.613.23Average basic shares outstanding269 M232 M228 M220 M856 MDiluted shares outstanding273 M233 M229 M221 M860 MEBITDA2.37 B1.6 B1.55 B1.55 B1.47 BEBIT2.01 B1.38 B1.28 B1.27 B1.21 BCost of revenue4.03 B4.3 B4.19 B4.07 B4.11 BOther cost of goods sold—————Depreciation & amortization (cash flow)363 M221 M269 M282 M262 M
Bath & Body Works Inc
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
In February 2020, L Brands announced the planned sale of its Victoria's Secret division to Sycamore Partners, a private equity firm. Under the agreement, Sycamore Partners would gain a 55% controlling stake in Victoria's Secret while L Brands would keep a 45% stake, leaving Bath & Body Works to become L Brand's sole business. The sale fell through in May 2020, although CEO Les Wexner did step down as planned, and was succeeded by Andrew Meslow. Daniel Heaf was appointed the new CEO effective May 19, 2025, replacing Gina Boswell who stepped down in May 2025.
In March 2021, L Brands announced it would spin off Victoria's Secret as a stand-alone publicly traded company, and then change its name to Bath & Body Works, Inc. As of August 3, 2021, the separation was complete, and Bath and Body Works stock started trading under the ticker symbol "BBWI".