|Limited Brands Reports April 2008 Sales|
COLUMBUS, Ohio, May 8 /PRNewswire-FirstCall/ -- Limited Brands, Inc. (NYSE: LTD) reported comparable store sales for the four weeks ended May 3, 2008, decreased 5 percent compared to the four weeks ended May 5, 2007. The company reported net sales of $577.5 million for the four weeks ended May 3, 2008, compared to net sales of $688.0 million last year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO )
The company reported a comparable store sales decrease of 8 percent for the 13 weeks ended May 3, 2008 compared to the 13 weeks ended May 5, 2007. The company reported net sales of $1.925 billion for the 13 weeks ended May 3, 2008, compared to net sales of $2.311 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 April 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 2,974 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
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 April 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. 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 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 including risks associated with our new distribution center; -- our failure to protect our reputation and our brand images; -- our failure to protect our trade names and trademarks; -- market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities 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, 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; -- the possible inability of our manufacturers to deliver products in a timely manner or meet quality standards; -- rising energy costs; -- increases in the costs of mailing, paper and printing; -- our ability to implement and sustain information technology systems; and -- 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 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.
LIMITED BRANDS APRIL 2008 Comparable Store Sales Increase (Decrease): First First April April Quarter Quarter 2008 2007 2008 2007 Victoria's Secret Stores (4%) (4%) (7%) 2% La Senza (1) 5% 4% 0% 5% Bath & Body Works (8%) (2%) (11%) 5% Express (2) - 9% - 5% Limited Stores (3) - (6%) - 4% Total Apparel - 6% - 5% Limited Brands (5%) (1%) (8%) 4% 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 Sales (Millions): First Quarter First Quarter 2008 2007 Victoria's Secret Stores $760.7 $771.2 Victoria's Secret Direct 380.9 344.3 La Senza 112.1 91.7 Total Victoria's Secret $1,253.7 $1,207.2 Bath & Body Works $399.0 $421.5 Express - $388.2 Limited Stores - 111.0 Total Apparel - $499.2 Total Other $272.4 $182.9 Limited Brands $1,925.1 $2,310.8 Total Stores: Stores Stores Operating Year-to-date Operating at 2/2/08 Opened Closed at 5/3/08 Victoria's Secret Stores 1,020 14 (6) 1,028 La Senza 312 6 - 318 Bath & Body Works 1,592 41 (7) 1,626 Henri Bendel 2 - - 2 Total Limited Brands 2,926 61 (13) 2,974
SOURCE Limited Brands
CONTACT: Investor Relations, Amie Preston, +1-614-415-6704, email@example.com; or Media Relations, Tammy Roberts Myers, +1-614-415-7072, firstname.lastname@example.org, both of Limited Brands
1356 05/08/2008 07:00 EDT http://www.prnewswire.com