Dive Brief:
- Bath & Body Works opened its first store in London on Friday, a company spokesperson confirmed to Retail Dive.
- The 2,441-square-foot store is located at the Westfield shopping center. A second store is scheduled to open in London this fall.
- Bath & Body Works currently has four other stores located in the United Kingdom.
Dive Insight:
Bath & Body Works has set its sights on expanding globally.
The new London store is currently one of five locations in the U.K. “where the love for our brand and the immersive store experiences we offer continues to grow,” a Bath & Body Works spokesperson said in a statement to Retail Dive.
CEO Gina Boswell named international growth as one of the five key growth drivers on the company’s latest earnings call with analysts. “We will continue expansion efforts within international to provide healthy and margin accretive growth to our business,” Chief Financial Officer Eva Boratto said on that call.
For the year, international net sales were $340 million, roughly flat year over year, with over 480 global franchised locations. The company’s net sales for the year were $7.4 billion, down nearly 2% year over year. Net income was $878 million, up nearly 10% compared to 2022.
“London is one of the world’s top beauty hubs, and our store opening here reflects our ambition to grow the brand in some of the most important fragrance markets across the globe,” the Bath & Body Works spokesperson said.
Of the retailer’s over 1,800 owned stores, 99% are profitable, Boswell said at Shoptalk in March. The company recently broadened its men’s assortment, which has become its fastest-growing category.
