Limited Brands (formerly known as The Limited, Inc.) is an American apparel company based in Columbus, Ohio. In 2009 it reported 9.04 billion dollars in revenue for the last fiscal year.
Limited Brands, Inc. is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names. The Company sells its merchandise primarily through its retail stores in the United States and Canada and through its Websites and catalogues. The Company operates in two segments: Victoria’s Secret and Bath & Body Works. The Victoria’s Secret reportable segment consists of the Victoria’s Secret. It sells its products at more than 1,000 Victoria’s Secret stores and more than 1,600 Bath & Body Works stores nationwide, via the Victoria’s Secret Catalogue and online at www.VictoriasSecret.com and www.BathandBodyWorks.com. It also sells upscale accessory products through its Henri Bendel flagship and 10 accessory stores, as well as online at www.HenriBendel.com. Through its La Senza, Bath & Body Works and Pink brands, products are also available in retail venues in Canada. Additionally, La Senza has franchising relationships in 49 countries around the globe. Victoria’s Secret products are also made available on a wholesale basis to duty-free stores and other international retail locations. In June 2010, the Company announced the sale of its remaining 25% interest in Limited Stores, LLC.
Victoria’s Secret
Victoria’s Secret is a specialty retailer of lingerie with modern, fashion-inspired collections, prestige fragrances and cosmetics, celebrated supermodels and world-famous runway shows. Victoria’s Secret lingerie and beauty stores, the catalogue and www.VictoriasSecret.com allow customers to shop the brand anywhere, any time, from any place for glamorous and sexy products from lines, such as Very Sexy, Body by Victoria, Angels by Victoria’s Secret, VS Cotton, BioFit and Victoria’s Secret Pink, and luxurious beauty products from lines, such as Dream Angels, Victoria’s Secret Pink, Beauty Rush and Very Sexy.
Bath & Body Works
Bath & Body Works has introduced fragrant flavorful indulgences, including shower gels, lotions, antibacterial soaps, candles and accessories. The Bath & Body Works segment sells personal care, beauty and home fragrance products under the Bath & Body Works, C.O. Bigelow, White Barn Candle Company and other brand names. Bath & Body Works merchandise is sold at retail stores and through its Website, www.bathandbodyworks.com.
Other
Other consists of Henri Bendel, operator of eleven specialty stores, which features accessories and personal care products; Mast, an apparel merchandise sourcing and production function serving Victoria’s Secret, La Senza and third-party customers; Beauty Avenues, a personal care sourcing and production function serving Victoria’s Secret, La Senza and Bath & Body Works; International retail and wholesale operations (excluding La Senza), which include the Company’s Bath & Body Works and Victoria’s Secret Pink stores in Canada, and corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.
In 1912 Bella Cabakoff emigrated with her parents from Russia to Columbus, Ohio to escape persecution. At 21, she became the youngest buyer for the Lazarus department store chain. However, after spending over 20 years with Lazarus, in 1951 she and her husband Harry Wexner opened a women's clothing store named Leslie's (after their son) on State Street. This store became the training ground for Leslie Wexner. In 1963 he borrowed $5,000 from his aunt and $5,000 from the bank and opened a store at the Kingsdale Shopping Center in Upper Arlington. This store was named "The Limited" because the store focused on clothing for younger women, unlike his parents' general merchandise store. Later in 1964, Bella and Harry closed their store to join their son in his venture.
The original board consisted of only the three family members and long time friend of Harry and Bella, Jim Waldron, (who served as Senior VP): Bella Wexner (who served as secretary until her death in 2001), Harry as chairman (who served until his death in 1975) and Leslie who succeeded his father as the chairman and later became CEO. He and his family continue to control 17% of LTD. In 1969, Wexner took The Limited Brands public, listed as LTD on the NYSE. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, Ohio, where it still operates from today.
The 1980s started a string of acquisitions: In 1982, the Victoria's Secret brand, store, and catalogue were purchased from Roy Raymond for $4 million. Also in 1982, 207 Lane Bryant stores were purchased. In 1985, a single Henri Bendel store was purchased for $10 million and 798 Lerner stores for $297 million. Finally, in 1988, 25 Abercrombie & Fitch stores were purchased for $46 million. The Limited then phased out its ownership of the A&F brand in 1996, when it was spun off into a publicly-traded company.
The 1990s saw the initial development of the Limited Too, Bath & Body Works, Structure, and Victoria's Secret Beauty. Later in 1998, several Bath & Body Works stores were converted to The White Barn Candle Company stores to begin a home fragrance brand.
OVERALL
Beta: 1.65
Market Cap (Mil.): $13,105.99
Shares Outstanding (Mil.): 318.42
Annual Dividend: 0.80
Yield (%): 1.94
FINANCIALS
LTD.N Industry Sector
P/E (TTM): 17.03 18.83 18.17
EPS (TTM): 77.14 -- --
ROI: 14.91 12.45 1.56
ROE: 44.00 14.07 2.40
Name Age Since Current Position
Wexner, Leslie 73 1963 Independent Chairman of the Board, Chief Executive Officer
Burgdoerfer, Stuart 47 2007 Chief Financial Officer, Executive Vice President
Turney, Sharen 54 2010 Chief Executive Officer and President - Victoria’s Secret
Neal, Diane 54 2010 Chief Executive Officer and President - Bath & Body
Redgrave, Martyn 58 2007 Executive Vice President, Chief Administrative Officer
Ramsey, Jane 53 2006 Executive Vice President - Human Resources
Tessler, Allan 74 Lead Independent Director
Zimmerman, Raymond 78 1984 Director
Kollat, David 72 1976 Director
Heskett, James 78 2002 Director
James, Donna 53 2003 Director
Loomis, William 62 2005 Director
Miro, Jeffrey 68 2006 Director
Wexner, Abigail 49 1997 Independent Director
Hersch, Dennis 64 2006 Independent Director
COMPANY ADDRESS
Limited Brands Inc
Three Limited Parkway
P.O. Box 16000
Columbus OH 43230
Limited Brands, Inc. is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names. The Company sells its merchandise primarily through its retail stores in the United States and Canada and through its Websites and catalogues. The Company operates in two segments: Victoria’s Secret and Bath & Body Works. The Victoria’s Secret reportable segment consists of the Victoria’s Secret. It sells its products at more than 1,000 Victoria’s Secret stores and more than 1,600 Bath & Body Works stores nationwide, via the Victoria’s Secret Catalogue and online at www.VictoriasSecret.com and www.BathandBodyWorks.com. It also sells upscale accessory products through its Henri Bendel flagship and 10 accessory stores, as well as online at www.HenriBendel.com. Through its La Senza, Bath & Body Works and Pink brands, products are also available in retail venues in Canada. Additionally, La Senza has franchising relationships in 49 countries around the globe. Victoria’s Secret products are also made available on a wholesale basis to duty-free stores and other international retail locations. In June 2010, the Company announced the sale of its remaining 25% interest in Limited Stores, LLC.
Victoria’s Secret
Victoria’s Secret is a specialty retailer of lingerie with modern, fashion-inspired collections, prestige fragrances and cosmetics, celebrated supermodels and world-famous runway shows. Victoria’s Secret lingerie and beauty stores, the catalogue and www.VictoriasSecret.com allow customers to shop the brand anywhere, any time, from any place for glamorous and sexy products from lines, such as Very Sexy, Body by Victoria, Angels by Victoria’s Secret, VS Cotton, BioFit and Victoria’s Secret Pink, and luxurious beauty products from lines, such as Dream Angels, Victoria’s Secret Pink, Beauty Rush and Very Sexy.
Bath & Body Works
Bath & Body Works has introduced fragrant flavorful indulgences, including shower gels, lotions, antibacterial soaps, candles and accessories. The Bath & Body Works segment sells personal care, beauty and home fragrance products under the Bath & Body Works, C.O. Bigelow, White Barn Candle Company and other brand names. Bath & Body Works merchandise is sold at retail stores and through its Website, www.bathandbodyworks.com.
Other
Other consists of Henri Bendel, operator of eleven specialty stores, which features accessories and personal care products; Mast, an apparel merchandise sourcing and production function serving Victoria’s Secret, La Senza and third-party customers; Beauty Avenues, a personal care sourcing and production function serving Victoria’s Secret, La Senza and Bath & Body Works; International retail and wholesale operations (excluding La Senza), which include the Company’s Bath & Body Works and Victoria’s Secret Pink stores in Canada, and corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.
In 1912 Bella Cabakoff emigrated with her parents from Russia to Columbus, Ohio to escape persecution. At 21, she became the youngest buyer for the Lazarus department store chain. However, after spending over 20 years with Lazarus, in 1951 she and her husband Harry Wexner opened a women's clothing store named Leslie's (after their son) on State Street. This store became the training ground for Leslie Wexner. In 1963 he borrowed $5,000 from his aunt and $5,000 from the bank and opened a store at the Kingsdale Shopping Center in Upper Arlington. This store was named "The Limited" because the store focused on clothing for younger women, unlike his parents' general merchandise store. Later in 1964, Bella and Harry closed their store to join their son in his venture.
The original board consisted of only the three family members and long time friend of Harry and Bella, Jim Waldron, (who served as Senior VP): Bella Wexner (who served as secretary until her death in 2001), Harry as chairman (who served until his death in 1975) and Leslie who succeeded his father as the chairman and later became CEO. He and his family continue to control 17% of LTD. In 1969, Wexner took The Limited Brands public, listed as LTD on the NYSE. In 1977, The Limited moved into its main headquarters on Morse Road in Columbus, Ohio, where it still operates from today.
The 1980s started a string of acquisitions: In 1982, the Victoria's Secret brand, store, and catalogue were purchased from Roy Raymond for $4 million. Also in 1982, 207 Lane Bryant stores were purchased. In 1985, a single Henri Bendel store was purchased for $10 million and 798 Lerner stores for $297 million. Finally, in 1988, 25 Abercrombie & Fitch stores were purchased for $46 million. The Limited then phased out its ownership of the A&F brand in 1996, when it was spun off into a publicly-traded company.
The 1990s saw the initial development of the Limited Too, Bath & Body Works, Structure, and Victoria's Secret Beauty. Later in 1998, several Bath & Body Works stores were converted to The White Barn Candle Company stores to begin a home fragrance brand.
OVERALL
Beta: 1.65
Market Cap (Mil.): $13,105.99
Shares Outstanding (Mil.): 318.42
Annual Dividend: 0.80
Yield (%): 1.94
FINANCIALS
LTD.N Industry Sector
P/E (TTM): 17.03 18.83 18.17
EPS (TTM): 77.14 -- --
ROI: 14.91 12.45 1.56
ROE: 44.00 14.07 2.40
Name Age Since Current Position
Wexner, Leslie 73 1963 Independent Chairman of the Board, Chief Executive Officer
Burgdoerfer, Stuart 47 2007 Chief Financial Officer, Executive Vice President
Turney, Sharen 54 2010 Chief Executive Officer and President - Victoria’s Secret
Neal, Diane 54 2010 Chief Executive Officer and President - Bath & Body
Redgrave, Martyn 58 2007 Executive Vice President, Chief Administrative Officer
Ramsey, Jane 53 2006 Executive Vice President - Human Resources
Tessler, Allan 74 Lead Independent Director
Zimmerman, Raymond 78 1984 Director
Kollat, David 72 1976 Director
Heskett, James 78 2002 Director
James, Donna 53 2003 Director
Loomis, William 62 2005 Director
Miro, Jeffrey 68 2006 Director
Wexner, Abigail 49 1997 Independent Director
Hersch, Dennis 64 2006 Independent Director
COMPANY ADDRESS
Limited Brands Inc
Three Limited Parkway
P.O. Box 16000
Columbus OH 43230