Bath & Body Works Faces Wave of Securities Class Actions Over Strategy Disclosures

Plaintiffs say the retailer misled investors about a shift into noncore categories that did not deliver promised growth.

Overview

Multiple complaints have been filed in federal court, including Lingam v. Bath & Body Works, Inc., No. 2:26-cv-00039 in the Southern District of Ohio, asserting violations of Sections 10(b) and 20(a).
The putative class covers investors who bought Bath & Body Works securities between June 4, 2024 and November 19, 2025.
Filings allege the company touted success in "adjacencies, collaborations and promotions" despite weak underlying results and reliance on brand tie-ins to "carry quarters."
Investors cite sharp declines after earnings: a 6.9% drop on August 28, 2025 following a guidance cut, and a 24.8% fall on November 20, 2025 after Q3 revenue fell 1% year over year, net income fell 26% to $77 million, and guidance was reduced.
An investor presentation acknowledged the push into adjacencies had not grown the total customer base and outlined exits from certain categories, while law firms urge investors to seek lead-plaintiff status by mid-March 2026 on a contingency basis.