{
  "url": "https://struct.news/briefs/bath-body-works-80-million-tariff-refund-did-the-heavy-lifting",
  "title": "Bath & Body Works’ $80 million tariff refund did the heavy lifting",
  "summary": "Operating cash flow more than doubled to $316 million in six months, helped by tariff refunds and an $88 million litigation gain.",
  "published_at": "2026-08-27T06:37:40.364126+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "Bath & Body Works, Inc.",
    "ticker": "BBWI",
    "cik": "701985",
    "sector": "Consumer Cyclical",
    "industry": "Specialty Retail"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-26",
    "accession": "0000701985-26-000029",
    "url": "https://www.sec.gov/Archives/edgar/data/701985/000070198526000029/bbwi-20260801.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-28",
    "url": "https://www.sec.gov/Archives/edgar/data/701985/000070198525000030/bbwi-20250802.htm"
  },
  "reported_figures": [
    {
      "group": "The stock’s low multiple sits beside a sizable debt load",
      "label": "P/E",
      "value": 6.083220338983051,
      "display": "6.1x",
      "unit": "multiple",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000701985-26-000029",
        "filing_date": "2026-08-26"
      }
    },
    {
      "group": "The stock’s low multiple sits beside a sizable debt load",
      "label": "Enterprise value",
      "value": 6607010000,
      "display": "$6.6B",
      "unit": "usd",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000701985-26-000029",
        "filing_date": "2026-08-26"
      }
    },
    {
      "group": "The stock’s low multiple sits beside a sizable debt load",
      "label": "Net debt",
      "value": 2659000000,
      "display": "$2.7B",
      "unit": "usd",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000701985-26-000029",
        "filing_date": "2026-08-26"
      }
    },
    {
      "group": "The stock’s low multiple sits beside a sizable debt load",
      "label": "EV / sales",
      "value": 0.9061870799615965,
      "display": "0.9x",
      "unit": "multiple",
      "period": "2026-01-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000701985-26-000029",
        "filing_date": "2026-08-26"
      }
    }
  ],
  "watch_next": [
    {
      "type": "tariffs",
      "statement": "Tariff refunds supplied a major lift to merchandise margin and operating income during the six months.",
      "importance": "medium",
      "evidence": "The Operating Income results were primarily due to the increase in the merchandise margin rate, as a result of approximately $80 million of International Emergency Economic Powers Act (“IEEPA”) tariff refunds, partially offset by the decline in Net Sales.",
      "source_date": "2026-08-26"
    },
    {
      "type": "litigation",
      "statement": "Payment-card litigation settlements produced an $88 million pre-tax gain that reduced selling expenses.",
      "importance": "medium",
      "evidence": "Selling Expenses decreased primarily driven by an $88 million pre-tax gain related to cash proceeds received, net of legal fees, for favorable settlements of payment card interchange fee litigation, as well as lower store sales.",
      "source_date": "2026-08-26"
    },
    {
      "type": "demand",
      "statement": "Direct sales increased on more fulfilled orders, but lower average order size and shipping revenue limited the gain.",
      "importance": "medium",
      "evidence": "Direct Net Sales increased $8 million, or 3.0%, primarily driven by an increase in fulfilled orders, partially offset by average order size and lower shipping and handling revenue.",
      "source_date": "2026-08-26"
    }
  ],
  "related_tickers": [
    "BBWI"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}