Bath & Body Works’ new chief executive officer Daniel Heaf blasted the retailer’s existing strategy as he unveiled his new strategic plan, signaling a launch on Amazon next year.

The company also turned in weaker-than-expected third-quarter earnings and a revised outlook, pressuring the stock, which tumbled 25 percent to $15.77 in midday trading on Wall Street.

Speaking to analysts in a post earnings call Thursday, Heaf, who joined the company in May, stressed that while the consumer environment is tougher, “this is no excuse as we continue to underperform the sector.”

Providing a diagnosis of what went wrong, he said:

Bath & Body Works pursued adjacent categories to attract new customers, but did not deliver the growth expected and instead reduced its focus on core categories.

Col

See Full Page