COLUMBUS, Ohio, April 10 /PRNewswire-FirstCall/ -- Limited Brands, Inc.
(NYSE: LTD) reported comparable store sales for the five weeks ended April
5, 2008, decreased 8 percent compared to the five weeks ended April 7,
2007. The company reported net sales of $733.2 million for the five weeks
ended April 5, 2008, compared to sales of $892.3 million last year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO )
The company reported a comparable store sales decrease of 9 percent for
the nine weeks ended April 5, 2008 compared to the nine weeks ended April
7, 2007. The company reported net sales of $1.348 billion for the nine
weeks ended April 5, 2008, compared to sales of $1.623 billion last year.
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
March sales message, call 1-866-639-7583 (1-866-NEWSLTD), 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 2,955 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 the March sales call 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. 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 March
sales call:
-- risks associated with general economic conditions, consumer confidence
and consumer spending patterns;
-- 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 the seasonality of our business;
-- risks associated with our ability to grow through new store openings
and existing store remodels and expansions;
-- risks associated with our ability to expand into international markets;
-- risks associated with independent licensees;
-- risks associated with our direct channel business including risks
associated with our new distribution center;
-- risks associated with our failure to protect our reputation and our
brand images;
-- risks associated with our failure to protect our trade names and
trademarks;
-- risks associated with market disruptions including severe weather
conditions, natural disasters, health hazards, terrorist activities or
the prospect of these events;
-- risks associated with stock price volatility;
-- risks associated with our failure to maintain our credit rating;
-- risks associated with our ability to service our debt;
-- risks associated with the highly competitive nature of the retail
industry generally and the segments in which we operate particularly;
-- risks associated with 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;
-- risks associated with the our ability to retain key personnel;
-- risks associated with our ability to attract, develop and retain
qualified employees and manage labor costs;
-- risks associated with our reliance on foreign sources of production,
including risks related to:
-- political instability,
-- duties, taxes, other charges on imports,
-- legal and regulatory matters,
-- 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;
-- risks associated with the possible inability of our manufacturers to
deliver products in a timely manner or meet quality standards;
-- risks associated with rising energy costs;
-- risks associated with increases in the costs of mailing, paper and
printing;
-- risks associated with our ability to implement and sustain information
technology systems; and
-- risks associated with our failure to comply with regulatory
requirements.
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 March 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.
LIMITED BRANDS
MARCH 2008
Comparable Store Sales Increase (Decrease):
Year- Year-
March March to- to-
2008 2007 Date Date
2008 2007
Victoria's Secret Stores(6%) 8 % (8%) 5 %
La Senza (1) (4%) 9 % (2%) 6 %
Bath & Body Works (13%) 15 % (12%) 9 %
Express (2) - 0 % - 3 %
Limited Stores (3) - 15 % - 9 %
Total Apparel - 3 % - 5 %
Limited Brands (8%) 8 % (9%) 6 %
1.) La Senza comparable store sales not included in total Limited Brands'
comparable store sales until January 2008 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 Operating
at 2/2/08 Opened Closed at 4/5/08
Victoria's Secret Stores 1,020 9 (5) 1,024
La Senza 312 2 - 314
Bath & Body Works 1,592 29 (6) 1,615
Henri Bendel 2 - - 2
Total Limited Brands 2,926 40 (11) 2,955
SOURCE Limited Brands, Inc.
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Related links:
http://www.Limitedbrands.com
Photo Notes: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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