L Brands Reports November 2013 Sales

                     L Brands Reports November 2013 Sales

PR Newswire

COLUMBUS, Ohio, Dec. 5, 2013

COLUMBUS, Ohio, Dec. 5, 2013 /PRNewswire/ --L Brands, Inc. (NYSE: LB)
reported net sales of $988.5 million for the four weeks ended Nov. 30, 2013,
compared to net sales of $922.0 million for the four weeks ended Nov. 24,
2012. The company reported a comparable store sales decrease of 5 percent for
the four weeks ended Nov. 30, 2013, compared to the four weeks ended Dec. 1,
2012.

The company reported net sales of $7.944 billion for the 43 weeks ended Nov.
30, 2013, an increase of 6 percent compared to net sales of $7.525 billion for
the 43 weeks ended Nov. 24, 2012. The company reported a comparable store
sales increase of 2 percent for the 43 weeks ended Nov. 30, 2013, compared to
the 43 weeks ended Dec. 1, 2012. 

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

ABOUT L BRANDS:
L Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and
Henri Bendel, is an international company. The company operates 2,660
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 November 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 November
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 November 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.



L BRANDS
NOVEMBER 2013
Comparable Store Sales Increase (Decrease):
                                                        

                         November  November  Year-to-Date  Year-to-Date

                         2013      2012      2013          2012
Victoria's Secret Stores (3%)      4%        2%            8%
Bath & Body Works        (7%)      6%        1%            6%
La Senza                 0%        5%        4%            (2%)
Limited Brands           (5%)      5%        2%            7%
Victoria's Secret                                       

Direct Sales             9%        2%        (3%)          2%



Total Company-Operated Stores:
                         Stores                 Stores

                         Operating Year-to-date  Operating
                         at 2/2/13 Opened Closed at 11/30/13
Victoria's Secret Stores 1,019     54     (10)   1,063
Bath & Body Works        1,571     8      (11)   1,568
Henri Bendel             29        -      -      29
 Total United States   2,619     62     (21)   2,660
La Senza Canada          158       -      (1)    157
Bath & Body Works Canada 71        8      -      79
Victoria's Secret Canada 26        6      -      32
Victoria's Secret UK     2         3      -      5
Total L Brands           2,876     79     (22)   2,933





SOURCE L Brands, Inc.

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