Bath & Body Works plans to close 50 of its stores located in shopping malls.
The retailer shut down 48 stores last year, most of which were in malls.
Bath & Body Works on Thursday posted net sales of $2.9B for Q4, marking a 4.6% drop YoY.
- CEO Gina Boswell said during the company's latest earnings call that it needs to expand "outside of traditional malls."
- The company plans to shutter 50 mall-based operations and open 95 off-mall locations.
- Boswell said that Bath & Body Works is refocusing on "optimizing the core business" and adding "adjacent categories."
- She noted that other brands are making "good progress" in the direct-to-consumer (D2C) market.
