2024 Q2 Form 10-Q Financial Statement

#000070198524000018 Filed on June 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q2
Revenue $1.384B
YoY Change -0.86%
Cost Of Revenue $778.0M
YoY Change -2.75%
Gross Profit $606.0M
YoY Change 1.68%
Gross Profit Margin 43.79%
Selling, General & Admin $419.0M
YoY Change 0.96%
% of Gross Profit 69.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.00M
YoY Change 12.7%
% of Gross Profit 11.72%
Operating Expenses $419.0M
YoY Change 0.96%
Operating Profit $187.0M
YoY Change 3.31%
Interest Expense $82.00M
YoY Change -192.13%
% of Operating Profit 43.85%
Other Income/Expense, Net $13.00M
YoY Change -35.0%
Pretax Income $118.0M
YoY Change 5.36%
Income Tax $31.00M
% Of Pretax Income 26.27%
Net Earnings $87.00M
YoY Change 7.41%
Net Earnings / Revenue 6.29%
Basic Earnings Per Share $0.39
Diluted Earnings Per Share $0.38
COMMON SHARES
Basic Shares Outstanding 225.0M shares
Diluted Shares Outstanding 226.0M shares

Balance Sheet

Concept 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $855.0M
YoY Change -18.26%
Cash & Equivalents $855.0M
Short-Term Investments
Other Short-Term Assets $127.0M
YoY Change 7.63%
Inventory $814.0M
Prepaid Expenses
Receivables $121.0M
Other Receivables $0.00
Total Short-Term Assets $1.917B
YoY Change -7.84%
LONG-TERM ASSETS
Property, Plant & Equipment $1.183B
YoY Change -48.45%
Goodwill $628.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $121.0M
YoY Change -3.97%
Other Assets $138.0M
YoY Change -29.23%
Total Long-Term Assets $3.304B
YoY Change 0.64%
TOTAL ASSETS
Total Short-Term Assets $1.917B
Total Long-Term Assets $3.304B
Total Assets $5.221B
YoY Change -2.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $403.0M
YoY Change -5.4%
Accrued Expenses $489.0M
YoY Change -34.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.221B
YoY Change -4.39%
LONG-TERM LIABILITIES
Long-Term Debt $4.282B
YoY Change -10.44%
Other Long-Term Liabilities $257.0M
YoY Change -80.34%
Total Long-Term Liabilities $4.539B
YoY Change -25.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.221B
Total Long-Term Liabilities $4.539B
Total Liabilities $5.760B
YoY Change -23.54%
SHAREHOLDERS EQUITY
Retained Earnings -$1.889B
YoY Change -20.16%
Common Stock $960.0M
YoY Change 2.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $822.0M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity -$1.677B
YoY Change
Total Liabilities & Shareholders Equity $5.221B
YoY Change -2.65%

Cashflow Statement

Concept 2024 Q2
OPERATING ACTIVITIES
Net Income $87.00M
YoY Change 7.41%
Depreciation, Depletion And Amortization $71.00M
YoY Change 12.7%
Cash From Operating Activities $76.00M
YoY Change 72.73%
INVESTING ACTIVITIES
Capital Expenditures $46.00M
YoY Change -50.54%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$46.00M
YoY Change -51.06%
FINANCING ACTIVITIES
Cash Dividend Paid $45.00M
YoY Change -2.17%
Common Stock Issuance & Retirement, Net $96.00M
YoY Change
Debt Paid & Issued, Net $110.0M
YoY Change 48.65%
Cash From Financing Activities -$259.0M
YoY Change 91.85%
NET CHANGE
Cash From Operating Activities $76.00M
Cash From Investing Activities -$46.00M
Cash From Financing Activities -$259.0M
Net Change In Cash -$229.0M
YoY Change 23.78%
FREE CASH FLOW
Cash From Operating Activities $76.00M
Capital Expenditures $46.00M
Free Cash Flow $30.00M
YoY Change -161.22%

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CY2023Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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CY2024Q2 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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CY2023Q2 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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CY2024Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
46000000 usd
CY2023Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2024Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2023Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2024Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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CY2023Q2 us-gaap Repayments Of Long Term Debt
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CY2024Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
96000000 usd
CY2023Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
CY2024Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
45000000 usd
CY2023Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
46000000 usd
CY2024Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2023Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2024Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2023Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2024Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 usd
CY2023Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
855000000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1046000000 usd
CY2024Q2 us-gaap Fiscal Period
FiscalPeriod
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div>The Company’s fiscal year ends on the Saturday nearest to January 31. As used herein, “first quarter of 2024” and “first quarter of 2023” refer to the thirteen-week periods ended May 4, 2024 and April 29, 2023, respectively.
CY2024Q2 bbwi Number Of Selling Seasons
NumberOfSellingSeasons
2 season
CY2024Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains cash and cash equivalents and derivative contracts with various major financial institutions. The Company monitors the relative credit standing of financial institutions with whom it transacts and limits the amount of credit exposure with any one entity. The Company’s investment portfolio is primarily composed of U.S. government obligations, U.S. Treasury and AAA-rated money market funds, commercial paper and bank deposits.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also periodically reviews the relative credit standing of franchise, license and wholesale partners and other entities to which it grants credit terms in the normal course of business. The Company determines the required allowance for expected credit losses using information such as customer credit history and financial condition. Amounts are recorded to the allowance when it is determined that expected credit losses may occur.</span></div>
CY2024Q2 bbwi Easton Investments Including Carrying Value Of Related Equity Method Investments
EastonInvestmentsIncludingCarryingValueOfRelatedEquityMethodInvestments
121000000 usd
CY2024Q1 bbwi Easton Investments Including Carrying Value Of Related Equity Method Investments
EastonInvestmentsIncludingCarryingValueOfRelatedEquityMethodInvestments
120000000 usd
CY2023Q2 bbwi Easton Investments Including Carrying Value Of Related Equity Method Investments
EastonInvestmentsIncludingCarryingValueOfRelatedEquityMethodInvestments
126000000 usd
CY2024Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates in the Preparation of Financial Statements</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period, as well as the related disclosure of contingent assets and liabilities at the date of the financial statements. Actual results may differ from those estimates, and the Company revises its estimates and assumptions as new information becomes available.</span></div>
CY2024Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
74000000 usd
CY2024Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
84000000 usd
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
79000000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
178000000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
198000000 usd
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
171000000 usd
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
71000000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1384000000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1396000000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
240000000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
244000000 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
15000000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
15000000 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
225000000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
229000000 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
226000000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
230000000 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000 shares
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
2171000 shares
CY2024Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2024Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
45000000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2023Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
46000000 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
673000000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
558000000 usd
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
611000000 usd
CY2024Q2 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
141000000 usd
CY2024Q1 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
152000000 usd
CY2023Q2 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
160000000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
814000000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
710000000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
771000000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3129000000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3123000000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2993000000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1946000000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1903000000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1770000000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1183000000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1220000000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1223000000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
71000000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
63000000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.268
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.277
CY2024Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
6000000 usd
CY2023Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
7000000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
4282000000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
4388000000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
4781000000 usd
CY2024Q2 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
109000000 usd
CY2024Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
110000000 usd
CY2024Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1000000 usd
CY2023Q2 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
84000000 usd
CY2023Q2 bbwi Aggregate Purchase Price Of Debt Extinguishment
AggregatePurchasePriceOfDebtExtinguishment
76000000 usd
CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
7000000 usd
CY2023Q2 bbwi Repayments Of Debt Reflected In Accounts Payable
RepaymentsOfDebtReflectedInAccountsPayable
2000000 usd
CY2024Q2 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
109000000 usd
CY2023Q2 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
84000000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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bbwi-20240504_cal.xml Edgar Link unprocessable
0000701985-24-000018-index-headers.html Edgar Link pending
0000701985-24-000018-index.html Edgar Link pending
0000701985-24-000018.txt Edgar Link pending
0000701985-24-000018-xbrl.zip Edgar Link pending
bbwi-20240504.htm Edgar Link pending
bbwi-20240504.xsd Edgar Link pending
bbwi-202454_ex15.htm Edgar Link pending
bbwi-202454_ex22.htm Edgar Link pending
bbwi-202454_ex311.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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bbwi-20240504_def.xml Edgar Link unprocessable
bbwi-20240504_lab.xml Edgar Link unprocessable
bbwi-20240504_pre.xml Edgar Link unprocessable
bbwi-20240504_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable