Deep Dive:

  • Bath & Body Works announced that a long-time company veteran,Tom Javitch,will serve as interim chief financial officer starting June 12, following the resignation of finance chiefEva Boratto,who stepped down to pursue other opportunities, according to a securities filing and the company's earnings report released Wednesday. The filing shows the company is actively searching for a permanent CFO successor.
  • The Columbus, Ohio-based retailer also appointed D. Andrew Meeting, senior vice president and corporate controller, as chief accounting officer, also according to the filing with the U.S. Securities and Exchange Commission.
  • "I am confident in Tom Javitch's interim leadership, his deep understanding of Bath & Body Works, and his expertise across business areas from product to store operations to supply chain, as we search for a successor," CEO Daniel Heaf said in a statement released Wednesday.

Deep Insight:

Boratto is leaving after about two years as CFO of the home fragrance and body care retailer. She joined the company in 2023 after an 11-year tenure at CVS Health, according to her LinkedIn profile. She is departing to take on thetop finance roleat pharmaceutical company Cencora, succeeding James F. Cleary, effective June 29, according to a separate announcement.

Her interim successor, Javitch, has spent 25 years combined at Limited Brands, Bath & Body Works' former parent company, and its legacy organizations, including 16 years in various roles at the body care brand, the filing shows. He most recently served as executive vice president of brand finance.

In connection with the interim appointment, Javitch will receive a one-time equity award and a monthly stipend, the filing said, without disclosing the specific amounts of the stipend or award.

The interim appointment comes as the retailer, which sells lotions, body care and candles, continues efforts to modernize its brand and boost customer engagement amid declining sales.

Although the company beat expectations on adjusted earnings per share and net sales, first-quarter results were still "below the standard we expect for our brand," Heaf said on Wednesday's earnings call.

The company's first-quarter net sales fell 3% year over year to $1.4 billion, according to its earnings report. Bath & Body Works also reaffirmed its expectation that full-year net sales for fiscal 2026 will decline 2.5% to 4.5%, as part of its fiscal 2026 guidance.

Heaf said Bath & Body Works is executing its "consumer-first formula" transformation strategy with "urgency." The plan, announced in late 2025, aims to concentrate investments in four key areas that representopportunities to increase revenue, including creating "disruptive and innovative products," "revitalizing" the company's brand, "winning in the marketplace" and operating with greater speed and efficiency, according to a November 2025 press release.

"The top priority for the business remains drivingsustainable, long-term profitable growththrough strategic investments," Boratto said Wednesday. The company's first-quarter capital expenditures reached $49 million, and Bath & Body Works expects full-year capital expenditures of $270 million, she said — with a focus on high-return real estate and its consumer-first formula investments, she added.

Boratto said Wednesday that underlying market trends remain pressured in areas of the company's portfolio, including body care. The company's full-year guidance also anticipates energy costs will remain elevated, with the impact of tariffs and inflationary pressures remaining "roughly neutral," she said.

Tariffs cost the company about $80 million in fiscal 2025, Boratto said, noting that Bath & Body Works does not expect "to benefit from any potential tariff refunds" in its fiscal 2026.