COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — Bath & Body Works Inc. is cultivating its best customers and expanding with new products.
The Columbus-based retailer reported a better-than-expected third quarter driven in part by some lower-than-expected costs and a good start to its new loyalty program.
Executive Chair and Interim CEO Sarah Nash, on a Thursday morning call with stock analysts, said the loyalty program, which launched in August, has 21 million members already. That accounts for one-third of Bath & Body Works (NYSE: BBWI) customers and two-thirds of company sales as those dedicated customers spend more and shop more frequently.
President Julie Rosen, on the call, said though sanitizer sales have slowed after a Covid-19-driven bump, several other product categories remain strong. Those include soaps, the men’s business and the brand’s newest fragrances.
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