Limited Brands Reports November 2011 Comparable Store Sales +7% and Declares $2 Per Share Special Dividend

Limited Brands, Inc. LTD reported a comparable store sales increase of 7 percent for the four weeks ended Nov. 26, 2011, compared to the four weeks ended Nov. 27, 2010. The company reported net sales of $872.6 million for the four weeks ended Nov. 26, 2011, compared to net sales of $893.0 million last year. The decline in sales year over year was driven by the sale of our third party apparel sourcing business in the beginning of November 2011. The company reported a comparable store sales increase of 10 percent for the 43 weeks ended Nov. 26, 2011, compared to the 43 weeks ended Nov. 27, 2010. The company reported net sales of $7.721 billion for the 43 weeks ended Nov. 26, 2011, compared to sales of $7.050 billion last year. Special Dividend The company announced that its Board of Directors has declared a special dividend of $2 per share, which will be paid on Dec. 23, 2011, to shareholders of record at the close of business on Dec. 12, 2011. Leslie H. Wexner, chairman and chief executive officer, stated, "Returning value to our shareholders is paramount for us. Our earnings growth and disciplined management of the business have resulted in significant free cash flow and a very strong cash and liquidity position. Going forward, we are confident in the growth opportunities for our business, which will allow us to continue to return excess cash to shareholders through a combination of ongoing regular dividends, share repurchases and special dividends."