L Brands Reports March 2014 Sales

                      L Brands Reports March 2014 Sales  PR Newswire  COLUMBUS, Ohio, April 10, 2014  COLUMBUS, Ohio, April 10, 2014 /PRNewswire/ --L Brands, Inc. (NYSE: LB) reported net sales increased 3% to $923.7 million for the five weeks ended April 5, 2014, compared to net sales of $894.8 million for the five weeks ended April 6, 2013. The company reported comparable store sales for the five weeks ended April 5, 2014 decreased 1%, in line with expectations, as the later Easter timing this year negatively impacted March comparable stores sales by 2 to 3 percentage points.  L Brands, Inc. logo.  The company reported net sales of $1.674 billion for the nine weeks ended April 5, 2014, an increase of 4% compared to sales of $1.607 billion for the nine weeks ended April 6, 2013. The company reported flat comparable store sales for the nine weeks ended April 5, 2014, compared to the nine weeks ended April 6, 2013.  To hear further commentary provided on L Brands' prerecorded March sales message, call 1-866-639-7583 (1-866-NEWS-LTD), or log onto www.LB.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 2,917 company-owned specialty stores in the United States, Canada and the United Kingdom and its brands are sold in about 600 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 March 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 March 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 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;        odisruption due to labor disputes; and        ochanging expectations regarding product safety due to new          legislation;    ofluctuations in foreign currency exchange rates;   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-related 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 maintain the security of customer, associate, supplier or     company information;   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 March 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 2013 Annual Report on Form 10-K.  L BRANDS MARCH 2014    Comparable Store Sales Increase (Decrease):                                                                                                                                                                          Year         Year                         March        March        To Date      To Date                         2014         2013         2014         2013 Victoria's Secret^1    (1%)         2%           0%           3% Bath & Body Works^1    (2%)         4%           0%           2% L Brands               (1%)         3%           0%           3% Victoria's Secret                                            Direct Sales           1%           (9%)         1%           (7%) ^1 – Results include company-owned stores in the United States and Canada.    Total Company-Owned Stores:                             Stores                    Stores                             Operating                 Operating                             at 2/1/14 Opened  Closed at 4/5/14 Victoria's Secret U.S.      1,060     1      (1)      1,060 Victoria's Secret Canada    34        -      -        34  Total Victoria's Secret  1,094     1      (1)      1,094 Bath & Body Works U.S.      1,559     -      (5)      1,554 Bath & Body Works Canada   79        2      (1)      80  Total Bath & Body Works  1,638     2      (6)      1,634 Victoria's Secret U.K.      5         2      -        7 Henri Bendel                29        -      -        29 La Senza Canada             157       -      (4)      153 Total L Brands              2,923     5      (11)     2,917    Logo - http://photos.prnewswire.com/prnh/20140130/CL56250LOGO  SOURCE L Brands, Inc.  Website: http://www.lb.com Contact: L Brands: Investor Relations: Amie Preston, (614) 415-6704, apreston@lb.com; Media Relations: Tammy Roberts Myers, (614) 415-7072, communications@lb.com  
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