Bath & Body Works launches products at Ulta Beauty, expanding reach but facing channel shift risks.

Bath & Body Works will launch over 55 products at more than 600 Ulta Beauty stores and online starting July 12, aiming to expand distribution and customer discovery. Jefferies expects this partnership to add about $50 million in revenue for Bath & Body Works in fiscal 2026, though much of the sales impact may come from shifting customers between channels rather than new demand. The move broadens Bath & Body Works' presence beyond its own stores but faces competition from established brands at Ulta. For Ulta, adding Bath & Body Works products could boost its body care and home fragrance categories, potentially improving traffic after recent softer growth.