Limited Brands (NYSE: LTD) today reported a comparable store sales increase of 4% for the five weeks ended December 30, 2006 compared to the five weeks ended December 31, 2005. Net sales increased 6% to $2.027 billion compared to net sales of $1.911 billion last year.
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The Company reported a comparable store sales increase of 7% for the forty-eight weeks ended December 30, 2006. Net sales increased 8% to $9.611 billion compared to net sales of $8.886 billion last year.
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, Bath & Body Works, C.O. Bigelow, Express, Limited Stores, White Barn Candle Co., Henri Bendel and Diva London, presently operates 3,543 specialty stores. Victoria's Secret products are also available through the catalogue and http://www.VictoriasSecret.com. Bath & Body Works products are also available through the catalogue and http://www.BathandBodyWorks.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 severe weather and changes in weather patterns; 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 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 systems and risks related to utilizing third parties to provide information technology services; risks associated with natural disasters, risks related to proposed or future acquisitions, including risks associated with consummating the acquisition and risks associated with rising energy costs. 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 2006
Comparable Store Sales Increase (Decrease):
Year-to- Year-to-
December December Date Date
2006 2005 2006 2005
Victoria's Secret Stores 10% 4% 12% 1%
Bath & Body Works 5% 1% 9% 4%
Express (5%) 7% (2%) (8%)
Limited Stores (10%) (1%) (5%) (2%)
Total Apparel (7%) 5% (3%) (6%)
Limited Brands 4% 3% 7% (1%)
Total Stores:
Stores Express Stores
Operating Year-to-date Integration Operating
at 1/28/06 Opened Closed (see note) at 12/30/06
Victoria's Secret
Stores 998 23 (15) - 1,006
Bath & Body Works 1,555 19 (18) - 1,556
Express Women 327 - (19) (88) 220
Express Men's 113 - (28) (2) 83
Express Dual Gender 303 2 (1) 90 394
Total Express 743 2 (48) - 697
Limited Stores 292 - (16) - 276
Total Apparel 1,035 2 (64) - 973
Henri Bendel 2 - - - 2
Diva London - 6 - - 6
Total Limited Brands 3,590 50 (97) - 3,543
Note: "Express Integration" represents conversion of Express Women and/or
Express Men stores to Express dual gender stores.