
Bath & Body Works is mischaracterized as a dying retailer; I see a compelling long-term buy at under $20 per share. BBWI boasts 40%+ gross margins, robust free cash flow, and a growing off-mall and global store footprint, defying value trap narratives. Strategic partnerships with Ulta Beauty and Hilary Duff, plus asset-light international expansion, position BBWI for revenue stabilization and renewed growth.










