Limited Brands Reports January 2013, Fourth Quarter 2012 And Fiscal Year 2012 Sales; Updates Fourth Quarter Earnings Guidance

Limited Brands Reports January 2013, Fourth Quarter 2012 And Fiscal Year 2012
               Sales; Updates Fourth Quarter Earnings Guidance

PR Newswire

COLUMBUS, Ohio, Feb. 7, 2013

COLUMBUS, Ohio, Feb. 7, 2013 /PRNewswire/ -- Limited Brands, Inc. (NYSE: LTD)
reported comparable store sales for the five weeks ended Feb. 2, 2013
increased 9% compared to the five weeks ended Feb. 4, 2012.  The Company
reported net sales of $986.4 million for the five-week period ended Feb. 2,
2013 compared to sales of $774.5 million for the four-week period ended Jan.
28, 2012.  The fifth week in January 2013 represented approximately $125
million in sales.

(Logo: http://photos.prnewswire.com/prnh/20020520/CLM001LOGO )

Comparable store sales for the 14 week fourth quarter ended Feb. 2, 2013
increased 5% compared to the 14 weeks ended Feb. 4, 2012.  Net sales were
$3.856 billion for the 14 week fourth quarter ended Feb. 2, 2013 compared to
$3.515 billion for the 13 weeks ended Jan. 28, 2012. 

The Company reported a comparable stores sales increase of 6% for the 53 week
year ended Feb. 2, 2013, compared to the 53 weeks ended Feb. 4, 2012. Net
sales were $10.459 billion for the 53 week year ended Feb. 2, 2013 compared to
$10.364 billion for the 52 weeks ended Jan. 28, 2012.

Fourth quarter 2011 and 2011 full year sales included $13.1 million and $702.4
million attributable to the third party apparel sourcing business, which was
sold in November 2011.

The Company is comfortable with the current street consensus estimate for 2012
fourth quarter adjusted earnings per share of $1.73.

To hear further commentary provided on Limited Brands' prerecorded January
sales message, call 1-866-639-7583 (1-866-NEWS-LTD), or log onto
www.Limitedbrands.com for an audio replay.  The company will release its
fourth quarter earnings after the close of the market on Feb. 27, and hold its
conference call at 9 a.m. Eastern Time on Feb 28.   

ABOUT LIMITED BRANDS:
Limited Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza
and Henri Bendel, is an international company.  The company operates 2,619
specialty stores in the United States and its brands are sold in more than 700
company-operated and franchised additional locations world-wide.  The
company's products are also available online at www.VictoriasSecret.com,
www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

Limited Brands b-roll footage of stores is available through our online
newsroom.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995

Limited Brands, Inc. cautions that any forward-looking statements (as such
term is defined in the Private Securities Litigation Reform Act of 1995)
contained in this press release or the January sales call involve risks and
uncertainties and are subject to change based on various factors, many of
which are beyond our control.  Accordingly, our future performance and
financial results may differ materially from those expressed or implied in any
such forward-looking statements.  Words such as "estimate," "project," "plan,"
"believe," "expect," "anticipate," "intend," "planned," "potential" and any
similar expressions may identify forward-looking statements.  Risks associated
with the following factors, among others, in some cases have affected and in
the future could affect our financial performance and actual results and could
cause actual results to differ materially from those expressed or implied in
any forward-looking statements included in this press release or the January
sales call:

  o general economic conditions, consumer confidence, consumer spending
    patterns and market disruptions including severe weather conditions,
    natural disasters, health hazards, terrorist activities, financial crises,
    political crises or other major events, or the prospect of these events; 
  o the seasonality of our business;
  o the dependence on a high volume of mall traffic and the possible lack of
    availability of suitable store locations on appropriate terms;
  o our ability to grow through new store openings and existing store remodels
    and expansions;
  o our ability to successfully expand into international markets and related
    risks;
  o our independent licensees and franchisees;
  o our direct channel business;
  o our failure to protect our reputation and our brand images;
  o our failure to protect our trade names, trademarks and patents;
  o the highly competitive nature of the retail industry generally and the
    segments in which we operate particularly;
  o consumer acceptance of our products and our ability to keep up with
    fashion trends, develop new merchandise and launch new product lines
    successfully;
  o our reliance on foreign sources of production, including risks related to:

       o political instability;
       o duties, taxes and other charges on imports;
       o legal and regulatory matters;
       o volatility in currency exchange rates;
       o local business practices and political issues;
       o potential delays or disruptions in shipping and related pricing
         impacts;
       o the disruption of imports by labor disputes; and
       o changing expectations regarding product safety due to new
         legislation;

  o stock price volatility;
  o our failure to maintain our credit rating;
  o our ability to service our debt;
  o our ability to retain key personnel;
  o our ability to attract, develop and retain qualified employees and manage
    labor costs;
  o the inability of our manufacturers to deliver products in a timely manner
    and meet quality standards;
  o fluctuations in product input costs;
  o fluctuations in energy costs;
  o increases in the costs of mailing, paper and printing;
  o claims arising from our self-insurance;
  o our ability to implement and maintain information technology systems;
  o our failure to comply with regulatory requirements;
  o tax matters; and
  o legal and compliance matters.

We are not under any obligation and do not intend to make publicly available
any update or other revisions to any of the forward-looking statements
contained in this press release or the January sales call to reflect
circumstances existing after the date of this press release or to reflect the
occurrence of future events even if experience or future events make it clear
that any expected results expressed or implied by those forward-looking
statements will not be realized. Additional information regarding these and
other factors can be found in "Item 1A. Risk Factors" in our 2011 Annual
Report on Form 10-K.

 

LIMITED BRANDS

JANUARY 2013
Comparable Store Sales Increase (Decrease) (Comparable Calendar Basis):
                    January  January  Fourth         Fourth         Year  Year
                                      Quarter        Quarter
                    2013     2012                                   2012  2011
                                      2012           2011
Victoria's Secret   8%       17%      3%             12%            7%    14%
Stores
Bath & Body Works   10%      (3%)     7%             3%             7%    6%
La Senza            15%      (8%)     0%             (3%)           (2%)  (2%)
Limited Brands      9%       9%       5%             7%             6%    10%
Victoria's Secret                                                          

Direct Sales        (5%)     3%       (1%)           3%             1%    4%

 

Total Sales (Millions):
                        Fourth Quarter  Fourth Quarter  Year 2012   Year 2011
                        2012            2011
                                                        (53 weeks)  (52 weeks)
                        (14 weeks)      (13 weeks)
Victoria's Secret       $ 1,713.4       $ 1,572.2       $ 4,980.6   $ 4,563.9
Stores
Victoria's Secret       534.0           518.8           1,593.2     1,557.5
Direct
  Total Victoria's      $ 2,247.4       $ 2,091.0       $ 6,573.8   $ 6,121.4
Secret
Bath & Body Works       $ 1,249.6       $ 1,127.9       $ 2,902.2   $ 2,674.3
La Senza                $  102.4        $ 119.4         $  355.5    $ 414.9
Other                   $ 256.2         $ 177.1         $ 627.2     $ 1,153.4
Limited Brands          $ 3,855.6       $ 3,515.4       $ 10,458.7  $ 10,364.0

 

Total Company-Operated Stores:
                         Stores                   Stores
                         Operating  Year-to-date  Operating
                         at 1/28/12 Opened Closed at 2/2/13
Victoria's Secret Stores 1,017      22     (20)   1,019
Bath & Body Works        1,587      4      (20)   1,571
Henri Bendel             19         10     -      29
   Total United States   2,623      36     (40)   2,619
La Senza Canada          230        -      (72)   158
Bath & Body Works Canada 69         3      (1)    71
Victoria's Secret Canada 19         7      -      26
Victoria's Secret UK     -          2      -      2
Total Limited Brands     2,941      48     (113)  2,876

 

 

SOURCE Limited Brands, Inc.

Website: http://www.Limitedbrands.com
Contact: Limited Brands: Investor Relations, Amie Preston, +1-614-415-6704,
apreston@limitedbrands.com; Media Relations, Tammy Roberts Myers,
+1-614-415-7072, extcomm@limitedbrands.com