Sales: $2.6 billion
$2.6 billion (estimated) for Bath & Body Works and Victoria’s Secret personal care and home fragrance products. Corporate sales: $8.6 billion. Net income: $448 million for the year ended Jan. 30, 2010.
Leslie H. Wexner, chairman and chief executive officer; Martyn R. Redgrave, executive vice president, chief administrative officer; Stuart Burgdoerfer, executive vice president and chief financial officer; Diane L. Neal, chief executive officer, Bath and Body Works; Jane L. Ramsey, executive vice president, human resources; Sharen Jester Turney, chief executive officer and president, Victoria’s Secret megabrand and intimate apparel
Victoria’s Secret Beauty fragrances, skin care and cosmetics including Secret Garden Collection, Naturally Victoria’s Secret, Parfums Intimes, Beauty Rush, Dream Angels, Sexy Little Things, Very Sexy, Vertical and Victoria’s Secret Pink. Bath & Body Works personal care, beauty and home fragrance products marketed under the Bath & Body Works, C.O. Bigelow and The White Barn Candle Company
Color Cosmetics—The Heidi Collection, Exotic Jewels, VS Makeup; Fragrance—Dream Angels Heavenly Flowers, Bath & Body Works Noir, Citron, Oak and Ocean, Deep Aqua, VS Velvet; Personal Care—Bath & Body Works Signature Collection for Men; Skin Care—Patricia Wexler MD collection
Times remain tough for retailers in general and Limited Brands in particular. Fewer women were shopping during the recession and when they did open their pocketbooks, they were more likely to be at a Walmart than a Victoria’s Secret or Bath & Body Works, the two retailer brands owned by Limited. Corporate sales fell 4% to $8.6 billion.
Women’s lingerie and Ohio State University football may not seem to have much in common, but OSU alum and Limited Brands founder Leslie Wexner insists he draws inspiration and a game plan by listening to OSU head coach Jim Tressel who, win or lose, insists his team must get better.
Sales at Bath & Body Works increased less than 1% to nearly $2.4 billion. Net sales were driven by the Signature Collection, antibacterial and home fragrance categories that were partially offset by discontinued product lines. During the year, Limited Brands restaged the Signature Collection and the antibacterial lines with new fragrances, improved formulas and updated packaging.
Victoria’s Secret’s sales fell 5% to $5.3 billion. Heidi Klum’s latest release at Victoria’s Secret is The Heidi Collection, Exotic Jewels. According to the company, the range was inspired by the model’s trip to the spiritual city of Varanasi, India and the Indian-themed vow renewal ceremony she shared with husband Seal in Mexico last year. The collection features a rich palette of hues, ranging from lipgloss to luminous face powder gems.
The good news is that things seem to be picking up. After two down years, comparable store sales at Bath & Body Works rose 7% for the quarter ended May 31, 2010. At the same time, sales at Victoria’s Secret were up 12%. Overall, sales rose 10% in the first quarter to $1.9 billion. Meanwhile, net income surged to $112 million, compared to $2.6 million a year ago.
As of May 31, 2010, the company operated 2,969 stores, down from 3,008 the year before.