Daniel Heaf, chief executive officer of Bath & Body Works, is wasting no time as he looks to turn around what he refers to as a sleeping giant.

“When I looked at the company from the outside in I thought, ‘Wow, what a sleeping giant of a company.’ It has almost incredibly done all these hard things and yet not put it together in a way that means it is growing in the way that it should do,” he said, during an interview at Bath & Body Works ’s new office in Midtown Manhattan.

Indeed, the company, which like sister brand Victoria’s Secret was spun out of L Brands as a stand-alone entity in 2021, reported net sales of $1.59 billion for its third quarter ended Nov. 1, a decrease of 1 percent compared to the same period a year earlier. Wall Street had penciled in $1.63 billion on average. As

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