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Limited Brands Inc (LB) SEC Filing 10-K Annual report for the fiscal year ending Saturday, February 2, 2013

L Brands, Inc.

CIK: 701985 Ticker: LB
Exhibit 99.1


LIMITED BRANDS REPORTS FOURTH QUARTER AND EARNINGS

- UPDATES FEBRUARY COMP GUIDANCE AND PROVIDES FIRST QUARTER AND FULL-YEAR 2013 GUIDANCE -


Columbus, Ohio, Feb. 27, 2013 - Limited Brands, Inc. (NYSE: LTD) today reported 2012 fourth quarter and full-year results.

Fourth Quarter Results
Adjusted earnings per share for the 14-week fourth quarter ended Feb. 2, 2013, which exclude certain significant items as detailed below, were $1.76 compared to $1.50 for the 13-week fourth quarter ended Jan. 28, 2012. Fourth quarter adjusted operating income was $907.8 million compared to $786.5 million last year, and adjusted net income was $519.2 million compared to $459.2 million last year.

Including the significant items below, reported fourth quarter earnings per share were $1.39 compared to $1.17 last year; operating income was $787.8 million compared to $641.1 million last year; and net income was $411.4 million compared to $359.4 million last year.

Significant items are as follows:

In 2012 (totaling to a charge of $0.37 per share):
A pre-tax, non-cash charge of $93.2 million, or $0.31 per share, related to intangible asset impairment at La Senza; and
A pre-tax, non-cash charge of $26.9 million, or $0.06 per share, related to store fixed asset impairment at Henri Bendel.

In 2011 (totaling to a charge of $0.33 per share):
A pre-tax gain of $110.8 million, or $0.32 cents per share, related to the sale of our third party apparel sourcing business;
A pre-tax, principally non-cash charge of $256.1 million, or $0.74 per share, related to intangible asset impairment and restructuring charges, including store closures, at La Senza; and
A tax benefit of $28.4 million, or $0.09 cents per share, related to certain discrete tax matters.

Comparable store sales for the 14-week fourth quarter ended Feb. 2, 2013, increased 5% compared to the 14 weeks ended Feb. 4, 2012. Net sales were $3.856 billion for the 14-week fourth quarter ended Feb. 2, 2013, compared to $3.515 billion for the 13 weeks ended Jan. 28, 2012. The fifth week in January 2013 represented approximately $125 million in sales.

Full-Year Results
Adjusted earnings per share for the 53-week year ended Feb. 2, 2013, which exclude certain significant items, were $2.92 compared to $2.60 for the year ended Jan. 28, 2012. Adjusted operating income was $1.707


The following information was filed by L Brands, Inc. (LB) on Friday, March 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information Document
Consoldiated Statements Of Comprehensive Income
Consolidated Balance Sheets
Consolidated Balance Sheets Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Income
Consolidated Statements Of Total Equity (deficit)
Accrued Expenses And Other
Accrued Expenses And Other (details)
Accrued Expenses And Other (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Comprehensive Income (loss)
Comprehensive Income (loss) (detail)
Comprehensive Income (loss) (tables)
Derivative Instruments
Derivative Instruments (foreign Exchange Contracts - Balance Sheet Hedging Disclosure) (details)
Derivative Instruments (interest Rate Designated As Cash Flow Hedge) (details)
Derivative Instruments (interest Rate Fair Value Hedges On Balance Sheet, Disclosure) (details)
Derivative Instruments (narrative) (details)
Derivative Instruments (tables)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (depreciable Life Range Of Property Plant And Equipment) (details)
Description Of Business And Summary Of Significant Accounting Policies (narrative) (details)
Description Of Business And Summary Of Significant Accounting Policies (policies)
Description Of Business And Summary Of Significant Accounting Policies (tables)
Divestitures
Divestitures (narrative) (details)
Earnings Per Share
Earnings Per Share (shares Utilized For The Calculation Of Basic And Diluted Earnings Per Share) (details)
Earnings Per Share (tables)
Equity Investments And Other
Equity Investments And Other (details)
Fair Value Measurements
Fair Value Measurements (carrying Value And Fair Value Of Long Term Debt) (detail)
Fair Value Measurements (fair Value, Assets And Liabilities Measured On Recurring Basis) (details)
Fair Value Measurements (fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation) (details)
Fair Value Measurements (tables)
Goodwill, Trade Names And Other Intangible Assets, Net
Goodwill, Trade Names And Other Intangible Assets, Net (narrative) (details)
Goodwill, Trade Names And Other Intangible Assets, Net (schedule Of Goodwill) (details)
Goodwill, Trade Names And Other Intangible Assets, Net (tables)
Income Taxes
Income Taxes (activity Related To Its Unrecognized Tax Benefits) (details)
Income Taxes (effect Of Temporary Differences That Cause Deferred Income Taxes) (details)
Income Taxes (narrative) (details)
Income Taxes (provision For Income Taxes) (details)
Income Taxes (reconciliation Of The Statutory Federal Income Tax Rate And The Effective Tax Rate) (details)
Income Taxes (tables)
Inventories
Inventories (details)
Inventories (tables)
Leases
Leases (leases Rent Expenses) (details)
Leases (minimum Rent Commitments Operating Leases) (details)
Leases (narrative) (details)
Leases (tables)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Long-term Debt Instruments) (details)
Long-term Debt (schedule Of Principal Payments On Long-term Debt) (details)
Long-term Debt (tables)
New Accounting Pronouncements
Property And Equipment, Net
Property And Equipment, Net (details Of Property And Equipment, Net) (details)
Property And Equipment, Net (narrative) (details)
Property And Equipment, Net (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (narrative) (details)
Quarterly Financial Data (unaudited) (tables)
Restructuring Activities
Restructuring Activities (narrative) (details)
Retirement Benefits
Retirement Benefits (details)
Retirement Benefits (tables)
Segment Information
Segment Information (additional Information) (details)
Segment Information (details)
Segment Information (tables)
Share-based Compensation
Share-based Compensation (narrative) (details)
Share-based Compensation (restricted Stock Activity) (details)
Share-based Compensation (share-based Compensation Expense) (details)
Share-based Compensation (stock Option Activity) (details)
Share-based Compensation (tables)
Share-based Compensation (weighted-average Assumptions) (details)
Shareholders' Equity
Shareholders' Equity (dividends Paid) (details)
Shareholders' Equity (narrative) (details)
Shareholders' Equity (schedule Of Company's Repurchase Program) (details)
Shareholders' Equity (tables)
Subsequent Events
Subsequent Events (details)
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information (condensed Consolidating Balance Sheet) (details)
Supplemental Guarantor Financial Information (condensed Consolidating Statement Of Cash Flows) (details)
Supplemental Guarantor Financial Information (condensed Consolidating Statements Of Income) (details)
Supplemental Guarantor Financial Information (narrative) (details)
Ticker: LB
CIK: 701985
Form Type: 10-K Annual Report
Accession Number: 0000701985-13-000012
Submitted to the SEC: Fri Mar 22 2013 8:31:24 AM EST
Accepted by the SEC: Fri Mar 22 2013
Period: Saturday, February 2, 2013
Industry: Retail Womens Clothing Stores

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