Limited Brands Reports October 2013 Sales and Updates Third Quarter Earnings Guidance

 Limited Brands Reports October 2013 Sales and Updates Third Quarter Earnings
                                   Guidance

PR Newswire

COLUMBUS, Ohio, Nov. 7, 2013

COLUMBUS, Ohio, Nov. 7, 2013 /PRNewswire/ --Limited Brands, Inc. (now known
as L Brands, Inc.) (NYSE: LTD) reported net sales of $680.5 million for the
four weeks ended Nov. 2, 2013, compared to net sales of $611.0 million for the
four weeks ended Oct. 27, 2012. The company reported a comparable store sales
increase of 8 percent for the four weeks ended Nov. 2, 2013, compared to the
four weeks ended Nov. 3, 2012.

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

The company reported net sales of $2.171 billion for the 13 weeks ended Nov.
2, 2013, an increase of 6 percent compared to net sales of $2.050 billion for
the 13 weeks ended Oct. 27, 2012. The company reported a comparable store
sales increase of 3 percent for the 13 weeks ended Nov. 2, 2013, compared to
the 13 weeks ended Nov. 3, 2012.

The company reported net sales of $6.955 billion for the 39 weeks ended Nov.
2, 2013, an increase of 5 percent compared to net sales of $6.603 billion for
the 39 weeks ended Oct. 27, 2012. The company reported a comparable store
sales increase of 3 percent for the 39 weeks ended Nov. 2, 2013, compared to
the 39 weeks ended Nov. 3, 2012.

The company expects to report third quarter earnings per share at the high end
of its previous guidance of $0.23 to $0.28. The company will report third
quarter earnings on Nov. 20 after the close of the market and will conduct its
third quarter earnings call at 9 a.m. Eastern on Nov. 21.

To hear further commentary provided on Limited Brands' prerecorded October
sales message, call 1-866-639-7583 (1-866-NEWS-LTD), or log onto
www.Limitedbrands.com for an audio replay.

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 2,655
specialty stores in the United States and its brands are sold in about 800
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.

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

L 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 October 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 October sales
call:

  ogeneral 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;
  othe seasonality of our business;
  othe dependence on a high volume of mall traffic and the possible lack of
    availability of suitable store locations on appropriate terms;
  oour ability to grow through new store openings and existing store remodels
    and expansions;
  oour ability to successfully expand into global markets and related risks;
  oour relationships with independent licensees and franchisees;
  oour direct channel businesses;
  oour failure to protect our reputation and our brand images;
  oour failure to protect our trade names, trademarks and patents;
  othe highly competitive nature of the retail industry generally and the
    segments in which we operate particularly;
  oconsumer acceptance of our products and our ability to keep up with
    fashion trends, develop new merchandise and launch new product lines
    successfully;
  oour ability to source, distribute and sell goods and materials on a global
    basis, including risks related to:

       opolitical instability;
       oduties, taxes and other charges;
       olegal and regulatory matters;
       ovolatility in currency exchange rates;
       olocal business practices and political issues;
       opotential delays or disruptions in shipping and transportation and
         related pricing impacts;
       othe disruption of production or distribution by labor disputes; and
       ochanging expectations regarding product safety due to new
         legislation;

  ostock price volatility;
  oour failure to maintain our credit rating;
  oour ability to service or refinance our debt;
  oour ability to retain key personnel;
  oour ability to attract, develop and retain qualified employees and manage
    labor costs;
  othe inability of our manufacturers to deliver products in a timely manner
    and meet quality standards;
  ofluctuations in product input costs;
  ofluctuations in energy costs;
  oincreases in the costs of mailing, paper and printing;
  oclaims arising from our self-insurance;
  oour ability to implement and maintain information technology systems and
    to protect associated data;
  oour failure to comply with regulatory requirements;
  otax matters; and
  olegal 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 October sales call to reflect
circumstances existing after the date of this report 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 2012 Annual
Report on Form 10-K.

LIMITED BRANDS
OCTOBER 2013
Comparable Store Sales Increase (Decrease):
                                                             

                October  October  Third    Third    Year-to-Date  Year-to-Date
                                  Quarter  Quarter
                2013     2012                       2013          2012
                                  2013     2012
Victoria's      10%      3%       4%       6%       3%            9%
Secret Stores
Bath & Body     4%       5%       3%       5%       3%            6%
Works
La Senza        (2%)     (2%)     3%       (2%)     4%            (2%)
Limited Brands  8%       3%       3%       5%       3%            7%
Victoria's                                                   
Secret
                (7%)     (3%)     (1%)     (2%)     (4%)          2%
Direct Sales



Total Sales (Millions):
                                                                Year-to-date
                                                    Year-to-date
                      Third Quarter  Third Quarter  2013          2012
                      2013           2012
Victoria's Secret     $ 1,058.5      $ 1,009.2      $ 3,441.0     $ 3,267.1
Stores
Victoria's Secret     268.9          270.6          1,011.6       1,059.2
Direct
 Total Victoria's    $ 1,327.4      $ 1,279.8      $ 4,452.6     $ 4,326.3
Secret
Bath & Body Works     $ 566.6        $ 538.4        $ 1,726.9     $ 1,652.6
La Senza              $ 75.1        $ 82.9        $ 234.0      $ 253.1
Other                 $ 202.0        $ 149.1        $ 541.5       $ 371.1
Limited Brands        $ 2,171.1      $ 2,050.2      $ 6,955.0     $ 6,603.1



Total Company-Operated Stores:
                         Stores                 Stores

                         Operating Year-to-date  Operating
                         at 2/2/13 Opened Closed at 11/2/13
Victoria's Secret Stores 1,019     51     (10)   1,060
Bath & Body Works        1,571     6      (11)   1,566
Henri Bendel             29        -      -      29
 Total United States   2,619     57     (21)   2,655
La Senza Canada          158       -      (1)    157
Bath & Body Works Canada 71        8      -      79
Victoria's Secret Canada 26        5      -      31
Victoria's Secret UK     2         3      -      5
Total Limited Brands     2,876     73     (22)   2,927



SOURCE Limited Brands, Inc.

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