Sales: $2.7 billion
$2.7 billion (estimated) for home fragrance and personal care products. Corporate sales: $9.6 billion. Net income: $805 million for the year ended Jan. 30, 2011.
Leslie H. Wexner, chairman and chief executive officer; Martyn R. Redgrave, executive vice president and chief administrative officer; Stuart B. Burgdoerfer, executive vice president and chief financial officer; Diane L. Neal, chief executive officer, Bath and Body Works; Sharen J. Turney, president and chief executive officer, Victoria’s Secret.
Bath & Body Works—Signature Collection, antibacterial and home fragrance product lines; Victoria’s Secret—Secret Garden, Beauty Rush, Dream Angels, Incredible by Victoria’s Secret, VS Attractions, Sexy Little Things, Very Sexy, Bombshell and Pink fragrances and VS Makeup.
Bath & Body Works—The Coconuts, Carried Away, Country Chic and Into the Wild signature fragrances.
The Limited seems to be back on target after corporate sales rose 11% in 2010 and net income soared 80%. In 2009, sales fell 4%.
Bath & Body Works’ sales rose 6% to just over $2.5 billion, while Victoria’s Secret’s beauty sales increased 15%. The company credited the increase in Victoria’s Secret beauty to a compelling merchandise assortment that incorporated newness, innovation and fashion.
Despite the good results, the company is making some tough decisions in 2011 as it closes 1,000 international stores this year.
In a personnel move, Diane Neal, chief executive officer of Bath & Body Works, will remain in that role through the end of the summer and then transition into an advisory role with the company from San Francisco. Nick Coe, formerly president of Lands’ End, will join BBW as its CEO.
As of Jan. 29, 2011, Limited Brands operated 2,968 stores, including 1,606 Bath & Body Works stores in the US (down from 1,627 stores in fiscal 2009) and 1,028 Victoria’s Secret stores in the US (down from 1,040 a year ago).