COLUMBUS, Ohio, May 6 /PRNewswire-FirstCall/ -- Limited Brands,
Inc. (NYSE: LTD) reported a comparable store sales increase of 4
percent for the four weeks ended May 1,
2010, compared to the four weeks ended May 2, 2009. The company reported net sales
of $584.6 million for the four weeks
ended May 1, 2010, compared to net
sales of $531.2 million last
year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO
)
The company reported a comparable store sales increase of 10
percent for the 13 weeks ended May 1,
2010, compared to the 13 weeks ended May 2, 2009. The company reported net sales
of $1.932 billion for the 13 weeks
ended May 1, 2010, compared to sales
of $1.725 billion last year.
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 report its first quarter earnings
results after the close of the market on May
19 and will conduct its first quarter earnings call at
9 a.m. Eastern on May 20.
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 2,969 specialty stores. 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 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;
- our failure to protect our reputation and our brand
images;
- our failure to protect our trade names, trademarks and
patents;
- 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;
- 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 and 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;
- the disruption of imports by labor disputes; and
- changing expectations regarding product safety due to new
legislation.
- 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;
- 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 2009
Annual Report on Form 10-K.
LIMITED BRANDS
APRIL 2010
Comparable Store
Sales Increase (Decrease):
|
|
|
April
2010
|
April
2009
|
First Quarter
2010
|
First Quarter
2009
|
|
|
|
|
|
|
|
Victoria's Secret Stores
|
7%
|
(8%)
|
12%
|
(9%)
|
|
La Senza
|
4%
|
(19%)
|
3%
|
(14%)
|
|
Bath & Body Works
|
(1%)
|
1%
|
7%
|
(3%)
|
|
Limited Brands
|
4%
|
(6%)
|
10%
|
(7%)
|
|
|
|
|
|
|
|
|
Total Sales
(Millions):
|
|
|
First
Quarter
2010
|
|
First
Quarter
2009
|
|
|
|
|
|
|
Victoria's Secret Stores
|
$ 828.1
|
|
$ 726.8
|
|
Victoria's Secret Direct
|
350.2
|
|
317.4
|
|
La Senza
|
85.4
|
|
81.0
|
|
Total Victoria's
Secret
|
$
1,263.7
|
|
$
1,125.2
|
|
Bath & Body Works
|
$ 430.3
|
|
$ 402.5
|
|
|
|
|
|
|
Total Other
|
$ 237.5
|
|
$ 197.6
|
|
Limited Brands
|
$
1,931.5
|
|
$
1,725.3
|
|
|
|
|
|
|
|
Total
Stores:
|
|
|
Stores
|
|
Stores
|
|
|
Operating
|
Year-to-date
|
Operating
|
|
|
at 1/30/10
|
Opened
|
Closed
|
at 5/1/10
|
|
|
|
|
|
|
|
Victoria's Secret Stores
|
1,040
|
3
|
(3)
|
1,040
|
|
La Senza
|
258
|
-
|
(1)
|
257
|
|
Bath & Body Works
|
1,627
|
2
|
(8)
|
1,621
|
|
Henri Bendel
|
11
|
-
|
-
|
11
|
|
Bath & Body Works Canada
|
31
|
5
|
-
|
36
|
|
Victoria's Secret Canada
|
4
|
-
|
-
|
4
|
|
Total Limited Brands
|
2,971
|
10
|
(12)
|
2,969
|
|
|
|
|
|
|
|
|
SOURCE Limited Brands, Inc.