COLUMBUS, Ohio, May 5, 2011 /PRNewswire/ -- Limited Brands, Inc.
(NYSE: LTD) reported a comparable store sales increase of 20
percent for the four weeks ended April 30,
2011, compared to the four weeks ended May 1, 2010. The company reported net sales
of $683.2 million for the four weeks
ended April 30, 2011, compared to net
sales of $584.6 million last
year.
(Logo:
http://photos.prnewswire.com/prnh/20020520/CLM001LOGO )
The company reported a comparable store sales increase of 15
percent for the 13 weeks ended April 30,
2011, compared to the 13 weeks ended May 1, 2010. The company reported net sales
of $2.217 billion for the 13 weeks
ended April 30, 2011, compared to
sales of $1.932 billion last
year.
The company now expects to report adjusted first quarter
earnings per share of $0.37 to $0.39
versus its previous guidance of $0.26 to
$0.31 per share, which represents a 48% to 56% increase over
last year's adjusted $0.25 per share
result. The company will provide earnings guidance for the
second quarter and update guidance for the full year 2011 when it
reports first quarter earnings on May
18.
The company has completed its $500
million share repurchase program, which was announced
March 22. In accordance with
the company's long-standing commitment to return value to
shareholders, its board of directors has authorized an additional
$500 million share repurchase
program.
To hear further commentary provided on Limited Brands'
prerecorded April 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 first quarter earnings
after the close of the market on May
18, and hold its conference call at 9
a.m. Eastern Time on May
19.
ABOUT LIMITED BRANDS:
Limited Brands, through Victoria's Secret, Pink, Bath & Body
Works, La Senza, C.O. Bigelow, White
Barn Candle Co. and Henri Bendel, is
an international company. The company operates 2,635
specialty stores in the United
States and its brands are sold in more than 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
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 April 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 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 April sales call:
- 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;
- the seasonality of our business;
- the dependence on a high volume of mall traffic and the
possible lack of availability of suitable store locations on
appropriate terms;
- our ability to grow through new store openings and existing
store remodels and expansions;
- our ability to successfully expand into international markets
and related risks;
- our independent licensees and franchisees;
- our direct channel business;
- our failure to protect our reputation and our brand
images;
- our failure to protect our trade names, trademarks and
patents;
- 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 and launch new product
lines successfully;
- 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 exchange rates;
- local business practices and political issues;
- potential delays or disruptions in shipping and related pricing
impacts;
- the disruption of imports by labor disputes; and
- changing expectations regarding product safety due to new
legislation;
- stock price volatility;
- our failure to maintain our credit rating;
- our ability to service our debt;
- our ability to retain key personnel;
- our ability to attract, develop and retain qualified employees
and manage labor costs;
- the inability of our manufacturers to deliver products in a
timely manner and meet quality standards;
- fluctuations in product input costs;
- fluctuations in energy costs;
- increases in the costs of mailing, paper and printing;
- claims arising from our self-insurance;
- our ability to implement and maintain information technology
systems;
- our failure to comply with regulatory requirements;
- tax matters; and
- 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
April 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 2010
Annual Report on Form 10-K.
LIMITED
BRANDS
APRIL
2011
|
|
|
|
|
|
Comparable Store Sales Increase
(Decrease):
|
|
|
|
|
April
2011
|
April
2010
|
First
Quarter
2011
|
First
Quarter
2010
|
|
|
|
|
|
|
|
Victoria's Secret
Stores
|
25%
|
7%
|
19%
|
12%
|
|
La Senza
|
(1%)
|
4%
|
(4%)
|
3%
|
|
Bath & Body Works
|
16%
|
(1%)
|
11%
|
7%
|
|
Limited Brands
|
20%
|
4%
|
15%
|
10%
|
|
|
|
|
|
|
|
|
Total Sales
(Millions):
|
|
|
|
|
First
Quarter
2011
|
|
First
Quarter
2010
|
|
|
|
|
|
|
Victoria's Secret
Stores
|
$ 986.6
|
|
$ 828.1
|
|
Victoria's Secret
Direct
|
368.9
|
|
350.2
|
|
La Senza
|
88.3
|
|
85.4
|
|
Total Victoria's
Secret
|
$ 1,443.8
|
|
$ 1,263.7
|
|
Bath & Body Works
|
$ 479.7
|
|
$ 430.3
|
|
|
|
|
|
|
Total Other
|
$ 293.5
|
|
$ 237.5
|
|
Limited Brands
|
$ 2,217.0
|
|
$ 1,931.5
|
|
|
|
|
|
|
|
Total Company-Operated
Stores:
|
|
|
|
|
Stores
|
Year-to-date
|
Stores
|
|
|
Operating
|
Operating
|
|
|
at
1/29/11
|
Opened
|
Closed
|
at
4/30/11
|
|
|
|
|
|
|
|
Victoria's Secret
Stores
|
1,028
|
1
|
(8)
|
1,021
|
|
Bath & Body Works
|
1,606
|
-
|
(3)
|
1,603
|
|
Henri Bendel
|
11
|
-
|
-
|
11
|
|
Total United
States
|
2,645
|
1
|
(11)
|
2,635
|
|
|
|
|
|
|
|
La Senza Canada
|
252
|
-
|
(2)
|
250
|
|
Bath & Body Works
Canada
|
59
|
-
|
-
|
59
|
|
Victoria's Secret
Canada
|
12
|
-
|
-
|
12
|
|
Total Limited
Brands
|
2,968
|
1
|
(13)
|
2,956
|
|
|
|
|
|
|
|
|
SOURCE Limited Brands, Inc.