Bath & Body Works Stock Tanked After Earnings. Directors Bought Up Shares.

Shares of specialty retailer Bath & Body Works have fallen 51% in 2025. (Dreamstime)

Bath & Body Works stock tanked following the release of third-quarter numbers, compounding an already grim year for the retailer. Six company directors recently bought up shares.

Shares plunged 25% on Nov. 20 to $15.82, their largest single-day percentage drop in over five years, after the retailer missed earnings projections and cut its fiscal-year forecast.

On Nov. 21, director Lucy Brady snapped up 3,469.552 shares for $14.40 each. Following the transaction, she owned roughly 17,482 shares valued at $329,186 based on Friday’s closing price of $18.83. Brady currently serves as the president of grocery and snacks at Conagra Brands.

Also on Nov. 21, Stephen Steinour, CEO of Huntington Bancshares, bought 6,700 shares for $14.86 each, bringing his direct holdings to 48,175 shares. Counting an additional 32,725 shares he owns indirectly through his spouse and various trusts, Steinour’s holdings were valued at roughly $1.5 million on Friday.

The same day, Francis Hondal, a former Mastercard executive, bought 3,343 shares for about $15 each, bringing her holdings to 21,554 shares valued at $405,861 on Friday. Steven Voskuil, the senior vice president and chief financial officer of Hershey, made by far the largest purchase on Nov. 21: 20,000 shares for $15.04 each. After the purchase, Voskuil owned 33,925 shares, valued at $638,807 on Friday**.**

On Nov. 24, two more directors picked up shares. Board chair Sarah Nash purchased 10,000 shares for $15.58 each, bringing her direct holdings to 285,522 shares valued at nearly $5.4 million based on Friday’s closing price. James Symancyk, CEO of Signet Jewelers, bought 22,500 shares for an average of $15.58 each, doubling his holdings to 40,379 shares valued at $760,336.

Bath & Body Works didn’t immediately comment on the stock purchases.

Bath & Body Works is best known for its shower products, body lotions, and scented hand sanitizers. Efforts to grow into new product categories haven’t smelled as sweet. Under the direction of former CEO Gina Boswell, the company moved beyond its female customer base, expanding its product portfolio to include hair care, laundry detergent, and men’s grooming products.

New chief executive Daniel Heaf told Barron’s at the time of its third-quarter earnings report that the miss was partly due to “strategic missteps” and shoppers’ concerns about the economy.

On the earnings call, Heaf cautioned that the transformation wouldn’t bear fruit right away. “It will take time before we see the benefits in our financial performance,” he said.

The latest spate of purchases by directors could be a sign of confidence that he’s on the right track.

The stock has slumped 51% this year. The benchmark S&P 500, by comparison, has gained 17%.

Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com