Limited Brands Reports May 2012 Sales

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COLUMBUS, Ohio, May 31, 2012/PRNewswire/ -- Limited Brands, Inc. (NYSE: LTD) reported a comparable store sales increase of 6 percent for the four weeks ended May 26, 2012, compared to the four weeks ended May 28, 2011.  The company reported net sales of $671.9 millionfor the four weeks ended May 26, 2012, compared to net sales of $717.4 millionlast year.

The company reported a comparable store sales increase of 7 percent for the 17 weeks ended May 26, 2012, compared to the 17 weeks ended May 28, 2011.  The company reported net sales of $2.826 billionfor the 17 weeks ended May 26, 2012, compared to sales of $2.934 billionlast year. 

May 2011and 2011 year-to-date sales included $68.9 millionand $282.8 millionattributable to the third party apparel sourcing business, which was sold in November 2011.

To hear further commentary provided on Limited Brands' prerecorded May sales message, call 1-866-639-7583 (1-866-NEWS-LTD), or log onto www.Limitedbrands.com for an audio replay.

ABOUT LIMITED BRANDS:

Limited Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 2,613 specialty stores in the United Statesand its brands are sold in more than 700 company-operated and franchised additional locations world-wide.  The company's products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

Limited Brands b-roll footage of stores is available through our online newsroom.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Limited Brands, Inc. 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 May sales call involve risks and uncertainties and are subject to change based on various 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 any 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 May sales call:

• general economic conditions, consumer confidence, consumer spending patterns and market disruptions including severe weather conditions, natural disasters, health hazards, terrorist activities, financial crises, political crises or other major events, or the prospect of these events; 
• the seasonality of our business;
• the dependence on a high volume of mall traffic and the possible lack of availability of suitable store locations on appropriate terms;
• our ability to grow through new store openings and existing store remodels and expansions;
• our ability to successfully expand into international markets and related risks;
• our independent licensees and franchisees;
• our direct channel business;
• our failure to protect our reputation and our brand images;
• our failure to protect our trade names, trademarks and patents;
• 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 and launch new product lines successfully;
• our reliance on foreign sources of production, including risks related to:
  • political instability;
  • duties, taxes and other charges on imports;
  • legal and regulatory matters;
  • volatility in currency exchange rates;
  • local business practices and political issues;
  • potential delays or disruptions in shipping and related pricing impacts;
  • the disruption of imports by labor disputes; and
  • changing expectations regarding product safety due to new legislation;
• stock price volatility;
• our failure to maintain our credit rating;
• our ability to service our debt;
• our ability to retain key personnel;
• our ability to attract, develop and retain qualified employees and manage labor costs;
• the inability of our manufacturers to deliver products in a timely manner and meet quality standards;
• fluctuations in product input costs;
• fluctuations in energy costs;
• increases in the costs of mailing, paper and printing;
• claims arising from our self-insurance;
• our ability to implement and maintain information technology systems;
• our failure to comply with regulatory requirements;
• tax matters; and
• legal and compliance matters.

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 May 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 2011 Annual Report on Form 10-K.

LIMITED BRANDS
MAY 2012

Comparable Store Sales Increase (Decrease):

Total Company-Operated Stores:

SOURCE Limited Brands, Inc.

Limited Brands, Investor Relations, Amie Preston, +1-614-415-6704, apreston@limitedbrands.com, or Media Relations, Tammy Roberts Myers, +1-614-415-7072, extcomm@limitedbrands.com