Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jan. 28, 2012

Quarterly Financial Data [Abstract]

Summarized Quarterly Financial Data

The following table provides summarized quarterly financial data for 2011:

	Fiscal Quarter Ended
	April 30, 2011 (b)		July 30, 2011 (c)		October 29, 2011 (d)		January 28, 2012 (e)
	(in millions except per share data)
Net Sales	$	2,217	$	2,458	$	2,174	$	3,515
Gross Profit	842		902		785		1,528
Operating Income	217		194		186		641
Income Before Income Taxes	249		276		122		580
Net Income	165		231		94		360
Net Income Per Basic Share (a)	$	0.52	$	0.76	$	0.32	$	1.21
Net Income Per Diluted Share (a)	$	0.50	$	0.73	$	0.31	$	1.17

 ________________

(a) Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.

(b) Includes the effect of the following items:

(i) A pre-tax gain of $86 million related to the sale of shares of Express, Inc. common stock;

(ii) A pre-tax expense of $50 million related to a pledge to The Limited Brands Foundation; and

(iii) A tax benefit of $11 million related to the favorable resolution of certain discrete income tax matters.

(c) Includes the effect of a non-taxable gain of $147 million and pre-tax expense of $113 million associated with the charitable contribution of Express, Inc. common stock to The Limited Brands Foundation.

(d) Includes the effect of a tax benefit of $17 million related to the favorable resolution of certain discrete income tax matters.

(e) Includes the effect of the following items:

(i) A pre-tax charge of $232 million related to the impairment of La Senza goodwill and other intangible assets;

(ii) A pre-tax gain of $111 million related to the sale of 51% of the third-party apparel sourcing business;

(iii) A pre-tax expense of $24 million relating to restructuring expenses at La Senza; and

(iv) A tax benefit of $28 million related to certain discrete income tax matters.

The following table provides summarized quarterly financial data for 2010:

	Fiscal Quarter Ended
	May 1, 2010 (b)		July 31, 2010 (c)		October 30, 2010		January 29, 2011 (d)
	(in millions except per share data)
Net Sales	$	1,932	$	2,242	$	1,983	$	3,456
Gross Profit	694		778		714		1,445
Operating Income	185		236		149		714
Income Before Income Taxes	187		244		101		719
Net Income	113		178		61		453
Net Income Per Basic Share (a)	$	0.35	$	0.55	$	0.19	$	1.41
Net Income Per Diluted Share (a)	$	0.34	$	0.54	$	0.18	$	1.36

________________

(a) Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year.

(b) Includes the effect of a pre-tax gain of $49 million related to a $57 million cash distribution from Express.

(c) Includes the effect of the following items:

(i) A pre-tax gain of $52 million related to the initial public offering of Express, Inc. including the sale of a portion of the company’s shares;

(ii) A pre-tax loss of $25 million associated with the early retirement of portions of the 2012 and 2014 notes; and

(iii) A pre-tax gain of $20 million associated with the sale of the remaining 25% ownership interest in Limited Stores.

(d) Includes the effect of the following items:

(i) A pre-tax gain of $45 million related to the sale of Express, Inc. common stock; and

(ii) A pre-tax gain of $7 million related to a dividend payment from Express, Inc.