12:05 PM EDT, 05/19/2025 (MT Newswires) -- Bath & Body Works ( BBWI ) named a new chief executive on Monday as the company disclosed preliminary fiscal first-quarter earnings that exceeded the high end of its guidance.

The body care products and home fragrances retailer appointed Daniel Heaf as CEO, succeeding Gina Boswell, who stepped down, effective immediately. Heaf most recently served as Nike's chief strategy and transformation officer, according to a statement.

"Through a strategic search, the board recognized a rare and exciting opportunity to bring on Daniel as the next CEO of Bath & Body Works ( BBWI )," Chair Sarah Nash said.

For the fiscal first quarter ended May 3, Bath & Body Works ( BBWI ) expects earnings to have advanced to $0.49 per share from $0.38 a year earlier, compared with its $0.36 to $0.43 guidance. Net sales likely increased 3% year on year to $1.42 billion, at the top end of its outlook.

Bath & Body Works ( BBWI ) continues to expect full-year EPS of $3.25 to $3.60 and revenue growth of 1% to 3%. Analysts are looking for $3.51 in EPS on revenue of $7.46 billion. The company logged EPS of $3.61 and sales of $7.31 billion for the previous fiscal year ended Feb. 1.

The company is scheduled to release its first-quarter results on May 29. Its shares were down 1.2% intraday Monday.

The outlook factors in 10% tariffs on goods imported from China, the company said.

The US and China recently agreed on a 90-day suspension of reciprocal duties on each other's goods. The two sides had been in a trade war since President Donald Trump's announcement of sweeping new tariffs early last month.

Washington has also paused certain levies for non-retaliating countries.

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