Bath & Body Works Cuts Clearance Inventory Ahead of June Sale
Bath & Body Works said on its Q2 earnings call that it entered this year’s June semiannual sale with lower clearance inventory as it rethinks promotions. CEO Daniel Heaf said the retailer reduced distressed inventory by buying its seasonal business correctly and kept overall inventory down 10% year over year. The company plans less promotional emphasis in the second half while continuing markdowns in the first six months and advancing SKU simplification and category exits.