Limited Brands Provides Recorded Comments Regarding Third Quarter Earnings and October Comparable Store Sales
27 October 2009 - 10:59AM
PR Newswire (US)
COLUMBUS, Ohio, Oct. 26 /PRNewswire-FirstCall/ -- Earlier today,
Limited Brands, Inc. (NYSE:LTD) raised its outlook for third
quarter earnings and 2009 free cash flow, and updated its guidance
for October comparable store sales. The company is making this
updated information available in advance of its previously
announced Investor Update Meeting on Oct. 27. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO) To hear
further commentary regarding this revised guidance, call
1-866-639-7583 (1-866-NEWS-LTD), or log onto
http://www.limitedbrands.com/ for an audio replay. As previously
reported, the company now expects third quarter earnings per share
between $0.00 and a loss of $0.04, versus its previous estimate of
a loss of $0.07 to $0.12. Free cash flow for the full year 2009,
defined as cash flow from operations less capital expenditures, is
expected to be between $500 and $600 million, versus its previous
estimate of $350 to $450 million. October comparable store sales
are expected to be in the negative low-to-mid single digits, versus
its previous estimate of roughly flat. The company will provide
fourth quarter earnings guidance on its third quarter earnings call
on Nov. 19. As announced last week, the Investor Update Meeting
will be video webcast live on http://www.limitedbrands.com/ from
noon to 4 p.m. ET on Oct. 27, and accessible via phone (listen
only) by dialing 1-866-583-6618 (international callers dial
1-973-200-3978). An archive of the webcast will be available on
http://www.limitedbrands.com/ as soon as possible following the
live event. ABOUT LIMITED BRANDS: Limited Brands, through
Victoria's Secret, Pink, Bath & Body Works, C.O. Bigelow, La
Senza, White Barn Candle Co. and Henri Bendel, presently operates
3,015 specialty stores. The company's products are also available
online at http://www.victoriassecret.com/,
http://www.bathandbodyworks.com/, http://www.henribendel.com/ and
http://www.lasenza.com/. Safe Harbor Statement Under the Private
Securities Litigation Reform Act of 1995 We caution 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 investor event webcast involve risks and uncertainties
and are subject to change based on various important 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 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
investor event webcast: -- general economic conditions, consumer
confidence and consumer spending patterns; -- the global economic
crisis and its impact on our suppliers, customers and other
counterparties; -- the impact of the global economic crisis on our
liquidity and capital resources; -- the dependence on a high volume
of mall traffic and the possible lack of availability of suitable
store locations on appropriate terms; -- the seasonality of our
business; -- our ability to grow through new store openings and
existing store remodels and expansions; -- our ability to expand
into international markets; -- independent licensees; -- our direct
channel business including our new distribution center; -- our
failure to protect our reputation and our brand images; -- our
failure to protect our trade names and trademarks; -- market
disruptions including severe weather conditions, natural disasters,
health hazards, terrorist activities or the prospect of these
events; -- stock price volatility; -- our failure to maintain our
credit rating; -- our ability to service our debt; -- the highly
competitive nature of the retail industry generally and the
segments in which we operate particularly; -- consumer acceptance
of our products and our ability to keep up with fashion trends,
develop new merchandise, launch new product lines successfully,
offer products at the appropriate price points and enhance our
brand image; -- our ability to retain key personnel; -- our ability
to attract, develop and retain qualified employees and manage labor
costs; -- our reliance on foreign sources of production, including
risks related to: -- political instability; -- duties, taxes, other
charges on imports; -- legal and regulatory matters; -- volatility
in currency and exchange rates; -- local business practices and
political issues; -- potential delays or disruptions in shipping
and related pricing impacts; and -- the disruption of imports by
labor disputes; -- the possible inability of our manufacturers to
deliver products in a timely manner or meet quality standards; --
fluctuations in energy costs; -- increases in the costs of mailing,
paper and printing; -- self-insured risks; -- our ability to
implement and sustain information technology systems; -- our
failure to comply with regulatory requirements; and -- legal
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
investor event webcast 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 2008 Annual Report on Form 10-K.
http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO
http://photoarchive.ap.org/ DATASOURCE: Limited Brands, Inc.
CONTACT: Investor Relations, Amie Preston, +1-614-415-6704, , Media
Relations, Tammy Roberts Myers, +1-614-415-7072, , both of Limited
Brands Web Site: http://www.limitedbrands.com/
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