Bath & Body Works Reports Q2 Sales Dip but Amazon Channel Triples

Bath & Body Works said its second-quarter results for fiscal 2026 came in as management expected, even as net sales slipped 2.3% to $1.5 billion. The Ohio-based company described the performance as evidence that its 'Consumer First Formula' turnaround plan is tracking in the right direction.

CEO Daniel Heaf acknowledged that the underlying business remains pressured, but said the company is where it expects to be nine months into the multi-year transformation. Part of the strategy involves meeting shoppers through new distribution channels.

In February, the brand introduced a curated assortment on Amazon, and in July it began selling at Ulta Beauty stores. Heaf said Amazon sales tripled in the second quarter compared with the first, with the channel attracting a higher mix of new-to-brand consumers who skew younger and more affluent.

The Ulta partnership is in its early days, but Heaf said customers are responding well to trial sizes as a discovery format. He also said neither Amazon nor Ulta is cannibalizing sales from Bath & Body Works' own stores.