Bath & Body Works - 1792 Exchange

Rating Overview

Bath & Body Works is High Risk.

Bath & Body Works is High Risk. The company yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Bath & Body Works embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	High Risk
Discriminatory Philanthropy	High Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	High Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

High

Rationale:

In August 2025, a Bath & Body Works manager, Jocelyn Boden, was fired when referring to a transgender man (biologically female), whom she hired, outside of her preferred pronouns due to religious reasons: “Her termination notice cited ‘unwanted conduct directed at an individual based on their… sexual orientation, gender identity, gender expression or transgender status,’” which, Boden Believes, discriminated against her religious beliefs (1). Bath & Body Works received a score of 100 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (2)(3).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

High

Rationale:

Bath & Body Works’ HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2). The company will not match employee donations to churches or religious organizations “churches or religious or sectarian organizations unless engaged in a significant project benefiting the greater community” (3).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Bath & Body Works’ HRC 2025 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and a specific benefits guide with a comprehensive explanation of transgender services funded by the company (1)(2). Bath & Body Works is a signatory of the Gender & Diversity KPI Alliance, appearing to prioritize diversity over merit in its business structure through the establishment of gender and racial targets for its leadership composition and its support of DEI in its hiring and promotions (3)(4). Bath & Body Works does not provide viewpoint protections for its employees (5)(6).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Bath & Body Works’ HRC 2025 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (1)(2). Bath & Body Works has opposed state-level legislation regarding school curricula in Ohio (3). Former CEO Andrew Meslow also signed a letter published by Civic Alliance, a left-wing group that has opposed state-level voting legislation, such as in Georgia (4). Bath & Body Works CEO, Gina Boswell, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (5)(6). Bath & Body Works supports DEI within its business practices, employing an Inclusion Council (7).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Bath & Body Works provides a benefits package for employees that covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children (1)(2). The company‘s HRC 2025 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. Additionally, the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (5)(6). Bath & Body Works has donated $1 million to the HRC and is a partner of the HRC’s Foundation (7). The company has also pledged a million dollars to the Black Lives Matter movement and related causes (8)(9). Bath & Body Works is a corporate partner of the National LGBT Chamber of Commerce (10). The company is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race (11)(12). Otherwise, there are no publicly known cases of Bath & Body Works using corporate funds to advance ideological causes, organizations, or policies (13).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

High

Rationale:

Bath & Body Works’ HRC 2025 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives. By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders (1)(2). Bath & Body Works has not used its PAC donations or lobbying for ideological purposes (3)(4)(5).