Attached files
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| 8-K - FORM 8-K - Bath & Body Works, Inc. | dp16945_8k.htm |
Exhibit
99.1
Limited
Brands Announces $1 Per Share Special Dividend and $200 Million Share Repurchase
Program
COLUMBUS,
Ohio, March 15, 2010 /PRNewswire via COMTEX/ -- As part of its ongoing
commitment to return value to shareholders, Limited Brands (NYSE: LTD) announced
today that its Board of Directors has declared a special dividend of $1 per
share and has authorized a $200 million share repurchase program.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20020520/CLM001LOGO )
The
special dividend will be paid on April 19, 2010 to shareholders of record at the
close of business on April 5, 2010. Share repurchases will be made at the times,
in the amounts and in the manner that the Company believes appropriate. The
newly authorized $200 million repurchase program includes $31 million remaining
under the Company's previous $250 million repurchase program. Over the past 10
years, Limited Brands has returned nearly $10 billion to shareholders through
dividends and share repurchases.
ABOUT
LIMITED BRANDS:
Limited
Brands, through Victoria's Secret, Pink, Bath & Body Works, C.O. Bigelow, La
Senza, White Barn Candle Co. and Henri Bendel, presently operates 2,970
specialty stores. The company's products are also available online at
www.VictoriasSecret.com, www.BathandBodyWorks.com,
www.HenriBendel.com
and www.LaSenza.com.
Safe
Harbor Statement Under the Private Securities Litigation Reform Act of
1995
We
caution that any forward-looking statements (as such term is defined in the
Private Securities Litigation Reform Act of 1995) contained in this press
release involve risks and uncertainties (including our ability to repurchase
shares on terms and in circumstances we believe to be appropriate) and are
subject to change based on various important factors, many of which are beyond
our control. Accordingly, our future performance and financial results may
differ materially from those expressed or implied in any such forward-looking
statements. Words such as "estimate," "project," "plan," "believe," "expect,"
"anticipate," "intend," "planned," "potential" and similar expressions may
identify forward-looking statements. Risks associated with the following
factors, among others, in some cases have affected and in the future could
affect our financial performance and actual results and could cause actual
results to differ materially from those expressed or implied in any
forward-looking statements included in this press release:
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general
economic conditions, consumer confidence and consumer spending
patterns;
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the
global economic crisis and its impact on our suppliers, customers and
other counterparties;
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·
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the
impact of the global economic crisis on our liquidity and capital
resources;
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·
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the
dependence on a high volume of mall traffic and the possible lack of
availability of suitable store locations on appropriate
terms;
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the
seasonality of our business;
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our
ability to grow through new store openings and existing store remodels and
expansions;
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·
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our
ability to expand into international
markets;
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independent
licensees;
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our
direct channel business including our new distribution
center;
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our
failure to protect our reputation and our brand
images;
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·
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our
failure to protect our trade names and
trademarks;
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market
disruptions including severe weather conditions, natural disasters, health
hazards, terrorist activities or the prospect of these
events;
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stock
price volatility;
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our
failure to maintain our credit
rating;
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our
ability to service our debt;
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the
highly competitive nature of the retail industry generally and the
segments in which we operate
particularly;
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consumer
acceptance of our products and our ability to keep up with fashion trends,
develop new merchandise, launch new product lines successfully, offer
products at the appropriate price points and enhance our brand
image;
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our
ability to retain key personnel;
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our
ability to attract, develop and retain qualified employees and manage
labor costs;
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our
reliance on foreign sources of production, including risks related
to:
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·
political
instability;
·
duties,
taxes, other charges on imports;
·
legal and
regulatory matters;
·
volatility
in currency and exchange rates;
·
local
business practices and political issues;
·
potential
delays or disruptions in shipping and related pricing impacts; and
·
the
disruption of imports by labor disputes;
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·
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the
possible inability of our manufacturers to deliver products in a timely
manner or meet quality standards;
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fluctuations
in energy costs;
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increases
in the costs of mailing, paper and
printing;
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self-insured
risks;
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our
ability to implement and sustain information technology
systems;
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our
failure to comply with regulatory requirements;
and
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·
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legal
matters.
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We are
not under any obligation and do not intend to make publicly available any update
or other revisions to any of the forward-looking statements contained in this
press release to reflect circumstances existing after the date of this press
release or to reflect the occurrence of future events even if experience or
future events make it clear that any expected results expressed or implied by
those forward-looking statements will not be realized. Additional information
regarding these and other factors can be found in "Item 1A. Risk Factors" in our
2008 Annual Report on Form 10-K.
SOURCE
Limited Brands