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La Senza Home
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Profile – Limited Brands, Inc.

Limited Brands is a specialty retailer of women’s intimate, apparel, beauty, personal care products, and accessories. Brands include Victoria’s Secret, Bath & Body Works, La Senza, Henri Bendel, and White Barn Candle Company. As of April 28, 2012 the company operated 2,899 stores in the US & Canada, with 1,030 Victoria’s Secret stores, 1,651 Bath & Body Works stores, 199 La Senza stores, and 19 Henri Bendel stores.

Headquarters Columbus, Ohio
Sector Clothing & Accessories Stores
Primary NAICS Code 448120 – Women’s Clothing Stores
Primary SIC Code 5621 – Women’s Clothing Stores
Fiscal Year 2012 Ends on Feb 2, 2013
2011 Net Sales $ 10.36 Billion
2011 DTC Sales $ 1.74 Billion
2011 Net Income $ 850.0 Million
Store Count* 2,899
Total Selling Sq Ft** 10,935,000
Employees** 97,000

*as of 4/28/12   **as of 1/28/12




Financial Summary
2011 2010 YoY % Chg 3 YR CAGR 5 YR CAGR
Net Sales (1,000′s) $ 10,364,000 $ 9,613,000 7.8% 4.6% -0.6%
Same-Store Sales Chg 14.0% 14.0%
DTC Sales (1,000′s)* $ 1,737,000 $ 1,641,000 5.9% 2.4% 3.4%
Operating Income (1,000′s) $ 1,238,000 $ 1,284,000 -3.6% 28.1% 1.0%
Net Income (1,000′s) $ 850,000 $ 805,000 5.6% 56.9% 4.7%
Diluted EPS $ 2.70 $ 2.42 11.6% 60.5% 10.0%
Store Count 2,941 2,968 -0.9% -0.8% -4.8%
Selling Sq Ft (1,000s) 10,935 10,974 -0.4% 0.1% -7.0%
Employees 97,000 96,500 0.5% 2.2% -5.0%
Advertising Spend (1,000s) $ 474,000 $ 473,000 0.2% -1.9% -4.4%

*includes catalog & internet sales

Limited Brands - Compound Annual Growth Rates



Fiscal Year Net Sales by Segment (as % of Total)
2011 2010 2009
VS Stores 44.0% 41.8% 40.5%
VS Direct 15.0% 15.6% 16.1%
Bath & Body Works 25.8% 26.2% 27.6%
La Senza 4.0% 4.1% 4.9%
Other* 11.1% 12.3% 10.9%

Limited Brands - 2011 Net Sales by Segment

*Other includes Corporate, Mast Global, Henri Bendel and international operations excluding La Senza


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