COLUMBUS, Ohio, March 5 /PRNewswire-FirstCall/ -- Limited Brands, Inc. (NYSE: LTD) reported a comparable store sales decrease of 7 percent for the four weeks ended Feb. 28, 2009, compared to the four weeks ended March 1, 2008. The company reported net sales of $547.8 million for the four weeks ended Feb. 28, 2009, compared to net sales of $614.4 million last year.
To hear further commentary provided on Limited Brands' prerecorded February sales message, call 1-866-639-7583 (1-866-NEWS-LTD), or log onto http://www.Limitedbrands.com for an audio replay.
SafeHarbor 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 February 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 February sales call:
general economic conditions, consumer confidence and consumer spending patterns, including risks related to:
the continued deterioration in the U.S. economic environment, including recessionary pressures;
the significant decline in consumer confidence and the negative impact on consumer discretionary spending;
the disruption and significant tightening in the U.S. credit and lending markets;
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 February 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 2007 Annual Report on Form 10-K and in our third quarter 2008 Quarterly Report on Form 10-Q.
LIMITED BRANDS
FEBRUARY 2009
Comparable Store Sales Increase (Decrease):
February February
2009 2008
Victoria's Secret Stores (9%) (10%)
La Senza (12%) 1%
Bath & Body Works (3%) (10%)
Limited Brands (7%) (9%)
Total Stores:
Stores Stores
Operating Year-to-date Operating
at 1/31/09 Opened Closed at 2/28/09
Victoria's Secret
Stores 1,043 3 (2) 1,044
La Senza 322 - - 322
Bath & Body Works 1,638 1 (1) 1,638
Henri Bendel 5 - - 5
Bath & Body Works
Canada 6 - - 6
Total Limited
Brands 3,014 4 (3) 3,015
