Limited Brands Reports October 2012 Sales and Increases Third
Quarter Earnings Guidance
COLUMBUS, Ohio, Nov. 1, 2012 /PRNewswire/ -- Limited Brands,
Inc. (NYSE: LTD) reported a comparable store sales increase of 3
percent for the four weeks ended Oct. 27,
2012, compared to the four weeks ended Oct. 29, 2011. The company reported net
sales of $611.0 million for the four
weeks ended Oct. 27, 2012, compared
to net sales of $652.4 million last
year.
(Logo: http://photos.prnewswire.com/prnh/20020520/CLM001LOGO
)
The company reported a comparable store sales increase of 5
percent for the third quarter ended Oct. 27,
2012, compared to the third quarter ended Oct. 29, 2011. The company reported net
sales of $2.050 billion for the third
quarter ended Oct. 27, 2012, compared
to net sales of $2.173 billion last
year.
The company reported a comparable store sales increase of 7
percent for the 39 weeks ended Oct. 27,
2012, compared to the 39 weeks ended Oct. 29, 2011. The company reported net
sales of $6.603 billion for the 39
weeks ended Oct. 27, 2012, compared
to net sales of $6.849 billion last
year.
October 2011, third quarter 2011
and 2011 year-to-date sales included $74.4
million, $258.7 million and
$689.2 million attributable to the
third party apparel sourcing business, which was sold in
November 2011.
The company expects to report third quarter adjusted earnings
per share of $0.23 to $0.25, versus
its previous guidance of $0.15 to
$0.20. The company will report third quarter earnings
on Nov. 14 after the close of the
market and will conduct its third quarter earnings call at
9 a.m. Eastern on Nov.
15.
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 2,626 specialty stores in the
United States and its brands are sold in more than 700
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.
Limited Brands b-roll footage of stores is available through our
online newsroom.
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 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:
- 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 and 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
October 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 2011
Annual Report on Form 10-K.
LIMITED
BRANDS
OCTOBER 2012
Comparable Store Sales Increase
(Decrease):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
October
2012
|
|
October
2011
|
|
Third
Quarter
2012
|
|
Third
Quarter
2011
|
|
Year-to-Date
2012
|
|
Year-to-Date
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
Victoria's
Secret Stores
|
3%
|
|
9%
|
|
6%
|
|
13%
|
|
9%
|
|
15%
|
Bath &
Body Works
|
5%
|
|
6%
|
|
5%
|
|
9%
|
|
6%
|
|
8%
|
La
Senza
|
(2%)
|
|
(5%)
|
|
(2%)
|
|
(4%)
|
|
(2%)
|
|
(2%)
|
Limited
Brands
|
3%
|
|
6%
|
|
5%
|
|
9%
|
|
7%
|
|
11%
|
Victoria's Secret
Direct
Sales
|
(3%)
|
|
12%
|
|
(2%)
|
|
8%
|
|
2%
|
|
4%
|
Total
Sales (Millions):
|
|
|
|
|
|
|
|
|
|
Third
Quarter 2012
|
|
Third
Quarter 2011
|
|
Year-to-date
2012
|
|
Year-to-date
2011
|
|
|
|
|
|
|
|
|
Victoria's
Secret Stores
|
$
1,009.2
|
|
$
941.6
|
|
$
3,267.1
|
|
$
2,991.7
|
Victoria's
Secret Direct
|
270.6
|
|
276.9
|
|
1,059.2
|
|
1,038.8
|
Total Victoria's Secret
|
$
1,279.8
|
|
$
1,218.5
|
|
$
4,326.3
|
|
$
4,030.5
|
Bath &
Body Works
|
$
538.4
|
|
$
503.7
|
|
$
1,652.6
|
|
$
1,546.4
|
La
Senza
|
$
82.9
|
|
$
92.9
|
|
$
253.1
|
|
$
295.4
|
Other
|
$
149.1
|
|
$
358.3
|
|
$
371.1
|
|
$
976.3
|
Limited
Brands
|
$
2,050.2
|
|
$
2,173.4
|
|
$
6,603.1
|
|
$
6,848.6
|
Total
Company-Operated Stores:
|
|
|
|
|
|
Stores
|
Year-to-date
|
Stores
|
|
Operating
|
Operating
|
|
at
1/28/12
|
Opened
|
Closed
|
at
10/27/12
|
|
|
|
|
|
Victoria's
Secret Stores
|
1,017
|
20
|
(17)
|
1,020
|
Bath &
Body Works
|
1,587
|
3
|
(10)
|
1,580
|
Henri
Bendel
|
19
|
7
|
-
|
26
|
Total United States
|
2,623
|
30
|
(27)
|
2,626
|
|
|
|
|
|
La Senza
Canada
|
230
|
-
|
(65)
|
165
|
Bath &
Body Works Canada
|
69
|
2
|
(1)
|
70
|
Victoria's
Secret Canada
|
19
|
5
|
-
|
24
|
Victoria's
Secret UK
|
-
|
2
|
-
|
2
|
Total
Limited Brands
|
2,941
|
39
|
(93)
|
2,887
|
SOURCE Limited Brands, Inc.