Dive Brief:
- Bath & Body Works named long-time company veteran Tom Javitch to take the role of interim CFO effective June 12, with the departure of finance chief Eva Boratto who tendered her resignation for another opportunity, according to a securities filing and as part of its Wednesday earnings report. An active search is underway for a permanent successor to the CFO seat, according to the filing.
- The Columbus, Ohio-based retailer also appointed D. Andrew Meeting, its company’s SVP and controller, to the role of principal accounting officer, according to the filing with the Securities and Exchange Commission.
- “While we search for a successor, I’m confident in Tom Javitch’s interim leadership, deep understanding of Bath & Body Works and expertise across the business — from product to store operations to supply chain,” CEO Daniel Heaf said in a statement included in the Wednesday release.
Dive Insight:
Boratto is departing after about two years as CFO for the home fragrance and body care retailer, which she joined in 2023 after an 11-year stint at CVS Health, according to her LinkedIn profile. She is leaving to take the top finance seat at pharmaceutical company Cencora, succeeding James F. Cleary in a move effective June 29, according to a separate announcement.
Her interim successor Javitch has logged a combined 25 years of service across Limited Brands — formerly Bath & Body Works’ parent company — and its legacy organizations, including 16 years at the body care brand in numerous roles, according to the filing. He most recently served as the company’s EVP of brand finance.
In association with the interim appointment, Javitch will receive a one-time equity award as well as a monthly stipend, according to the filing, which did not detail the amounts of the stipend or award.
The interim appointment comes as the retailer, which sells products including lotions, body care and candles, continues efforts to modernize its brand and boost customer engagement amid slumping sales.
Though the company surpassed expectations both for adjusted earnings per sale and net sales for the period, results for first quarter still fell “below the standard we expect of our brand,” Heaf said Wednesday during an earnings call.
The company’s net sales for the quarter fell by 3% year-over-year to $1.4 billion, according to its earning release. Bath & Body Works also reaffirmed its expectations that full-year 2026 net sales will be down between 2.5% to 4.5% as part of its full-year 2026 guidance.
Bath & Body Works is working “with urgency” to execute on its “Consumer First Formula” transformation strategy, Heaf said. The initiative was announced in late 2025 and aims to focus investment in four key areas representing opportunities to grow revenue, including creating “disruptive and innovative product,” “reigniting” the company’s brand, “winning in the marketplace,” and operating with greater speed and efficiency, according to a November 2025 press release.
The business’ “top priority remains driving sustainable long-term profitable growth through strategic investments,” Boratto said Wednesday. Capital expenditures for the company’s first quarter reached $49 million, with Bath & Body Works expecting capex to reach $270 million for the full year, she said — focused on high return real estate and its Consumer First Formula investments, she said.
Underlying market trends for areas of the company’s portfolio, including body care, remain pressured, Boratto said Wednesday. The company’s full-year guidance also expects energy costs to continue to remain elevated, and that the impact of tariff and inflationary pressures will remain “roughly neutral,” she said.
Tariffs represented approximately $80 million in costs for the company’s fiscal 2025, Boratto said, noting Bath & Body Works does not expect “any benefit from potential tariff refunds” for its fiscal 2026.
