Bath & Body Works, Inc. (NYSE:BBWI) Q3 2022 Earnings Call Transcript

Wendy Arlin: Okay. Yes. I will take the question on the finances, and then I will turn it over to Julie on the MOXY launch and rollout. So, Marni, this company has a long history of innovation and product development, not just in MOXY, but you have seen it in our ongoing assortment. So, product development is always built into our margin structure. We spend money on it every quarter, not just in MOXY, but in the balance of the assortment as well. So, we know that the key to success is not just newness in something like MOXY, but you will continue even in 2023 to see new and exciting things coming out of our core business. So, all embedded in our existing cost structure. Julie?

Julie Rosen: Yes. So, hi Marni.

Marni Shapiro: Hey.

Julie Rosen: One thing to say about MOXY is this is our first foray in a very long time into what we call above the neck. So, Bath & Body Works has always been below the neck. So, we are really learning a lot about face and hair and supplements. We will be delivering body in MOXY in the New Year. So right now, the strategy is to focus on our channels, stores and website. That is not to say that won’t change in the future. We are open to all different ways of growth. We just want to case ourselves. I know I have said it three times now, but we really do want to be in a listening and learning mode, so that we do this in a very thoughtful way. You will see more marketing of MOXY after Christmas. But it’s too important this quarter.

We don’t want to take our eye off ball and get distracted by the new thing. One other thing to say is we have our own Instagram account for MOXY, and so we are trying some different things there. And I think that we will continue to learn and refine. So, there are so many opportunities for these brands and ways to go out and attract new customers. And we will be really starting to focus on them from January.

Marni Shapiro: That’s great. It was the Instagram account that caught my eye that maybe wonder that this is bigger than just a little launch into BBW. Best of luck for the holiday season, guys.

Wendy Arlin: Thank you, Marni and thank you everybody for your continuing interest in Bath & Body Works. Thank you.

Operator: That concludes today’s conference. Thank you all for participating. You may disconnect at this time.