COLUMBUS, Ohio, Jan. 10 /PRNewswire-FirstCall/ -- Limited Brands, Inc.
(NYSE: LTD) reported comparable store sales for the five weeks ended Jan.
5, 2008, decreased 8 percent compared to the five weeks ended Jan. 6, 2007.
The company reported net sales of $1.744 billion for the five weeks ended
Jan. 5, 2008, compared to sales of $2.027 billion for the five weeks ended
Dec. 30, 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO )
The company reported a comparable store sales decline of 2 percent for
the 48 weeks ended Jan. 5, 2008. Net sales were $9.461 billion compared to
net sales of $9.611 billion last year.
Although there is still a month left in the fourth quarter, as a result
of the 8 percent decline in comparable store sales quarter-to-date versus
its previous expectation of a low single digit decline, the Company now
expects to report fourth quarter earnings per share at the low-to-mid point
of its previously announced range of $0.90 to $1.05.
2007 net sales include Express sales through July 6, 2007, the closing
date of the sale of a majority interest to affiliates of Golden Gate
Capital, and Limited Stores sales through Aug. 3, 2007, the closing date of
the transfer of a majority interest to affiliates of Sun Capital Partners.
To hear further commentary provided on Limited Brands' prerecorded
December sales message, call 1-800-337-6551, followed by the passcode LTD
(583), or log onto http://www.Limitedbrands.com for an audio replay.
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 2,932 specialty stores. The company's products are also available
online at http://www.VictoriasSecret.com, http://www.BathandBodyWorks.com
and http://www.LaSenza.com.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
The Company 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 December sales call or made by the
Company or management of the Company involve risks and uncertainties and
are subject to change based on various important factors, many of which are
beyond our control. Accordingly, the Company's 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. The
following factors, among others, in some cases have affected and in the
future could affect the Company's 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 December sales call or otherwise made by the Company or management:
risks associated with general economic conditions, consumer confidence and
consumer spending patterns; the potential impact of national and
international security concerns on the retail environment, including any
possible military action, terrorist attacks or other hostilities; risks
associated with the seasonality of the Company's business; risks associated
with the highly competitive nature of the retail industry generally and the
segments in which we operate particularly; risks related to consumer
acceptance of the Company's products and the Company's ability to keep up
with fashion trends, develop new merchandise, launch new product lines
successfully, offer products at the appropriate price points and enhance
the Company's brand image; risks associated with the Company's ability to
retain, hire and train key personnel and management; risks associated with
the possible inability of the Company's manufacturers to deliver products
in a timely manner or meet quality standards; risks associated with the
Company's reliance on foreign sources of production, including risks
related to the disruption of imports by labor disputes, risks related to
political instability, risks associated with legal and regulatory matters,
risks related to duties, taxes, other charges and quotas on imports, risks
related to local business practices, potential delays or disruptions in
shipping and related pricing impacts and political issues and risks related
to currency and exchange rates; risks associated with the dependence on a
high volume of mall traffic and the possible lack of availability of
suitable store locations on appropriate terms; risks associated with labor
shortages or increased labor costs; risks associated with increases in the
costs of mailing, paper and printing; risks associated with our ability to
service any debt we incur from time to time as well as the requirements the
agreements related to such debt impose upon us; risks associated with the
Company's reliance on information technology, including risks related to
the implementation of new information technology and distribution systems,
including risks associated with our new Victoria's Secret Direct
distribution center; risks related to utilizing third parties to provide
information technology services; risks associated with severe weather
conditions, natural disasters or health hazards; risks associated with
rising energy costs; and risks associated with independent licensees. The
Company is not under any obligation and does 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 December 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.
LIMITED BRANDS
DECEMBER 2007
Comparable Store Sales Increase (Decrease):
Year-to- Year-to-
December December Date Date
2007 2006 2007 2006
Victoria's
Secret Stores (8%) 10% (2%) 12%
La Senza(1) (4%) - 0% -
Bath & Body
Works (8%) 5% (4%) 9%
Express(2) - (5%) 6% (2%)
Limited
Stores(3) - (10%) 4% (5%)
Total Apparel - (7%) 5% (3%)
Limited Brands (8%) 4% (2%) 7%
1. La Senza comparable store sales are not included in total Limited
Brands' comparable store sales as the business was acquired on Jan. 12,
2007.
2. Express comparable store sales through July 6, 2007, closing date of
the sale of majority interest to affiliates of Golden Gate Capital.
3. Limited Stores comparable store sales through Aug. 3, 2007, closing
date of the transfer of majority interest to affiliates of Sun Capital
Partners.
Total Stores:
Stores Stores
Operating Year-to-date Express Operating
at 2/3/07 Opened Closed Integration Disposed at 1/5/08
Victoria's
Secret Stores 1,003 33 (15) - - 1,021
La Senza 291 27 (5) - - 313
Bath & Body
Works 1,546 65 (15) - - 1,596
Express Women 195 - (16) (58) (121) -
Express Men 69 - (16) - (53) -
Express Dual
Gender 394 - (4) 58 (448) -
Total Express 658 - (36) - (622) -
Limited Stores 260 - (13) - (247) -
Total Apparel 918 - (49) - (869) -
Henri Bendel 2 - - - - 2
Diva London 6 - (6) - - -
Total Limited
Brands 3,766 125 (90) - (869) 2,932
SOURCE Limited Brands, Inc.
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Related links:
http://www.limitedbrands.com
http://www.VictoriasSecret.com
http://www.BathandBodyWorks.com http://www.LaSenza.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Investor Relations, Amie Preston,
+1-614-415-6704, apreston@limitedbrands.com; or Media Relations,
Tammy Roberts Myers, +1-614-415-7072, extcomm@limitedbrands.com,
both of Limited Brands, Inc.
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