Limited Brands January Comparable Store Sales up 9%; Expects Q4 EPS at High End of Previous Guidance of $1.42 to $1.46

Limited Brands, Inc.

reported a comparable store sales increase of 9 percent for the four weeks ended Jan. 28, 2012, compared to the four weeks ended Jan. 29, 2011. The company reported net sales of $774.5 million for the four weeks ended Jan. 28, 2012, compared to net sales of $772.6 million last year. The company reported a comparable store sales increase of 7 percent for the fourth quarter ended Jan. 28, 2012, compared to the fourth quarter ended Jan. 29, 2011. The company reported net sales of $3.515 billion for the fourth quarter ended Jan. 28, 2012, compared to sales of $3.456 billion last year. The company reported a comparable store sales increase of 10 percent for the 52 weeks ended Jan. 28, 2012, compared to the 52 weeks ended Jan. 29, 2011. The company reported net sales of $10.364 billion for the 52 weeks ended Jan. 28, 2012, compared to sales of $9.613 billion last year. The company expects to report adjusted fourth quarter earnings per share at the high end of its previous guidance of $1.42 to $1.46. The company also expects to report special items in the fourth quarter, not included in adjusted earnings per share as noted above, as follows: A pre-tax gain of approximately $115 million, or $0.37 per share, related to the sale of our third party apparel sourcing business; and A pre-tax, principally non-cash charge of approximately $220 to $270 million, or $0.64 to $0.78 per share, related to intangible asset impairment and store closures at La Senza.