Quarterly Financial Data (Unaudited)

12 Months Ended

Feb. 02, 2013

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

The following table provides summarized quarterly financial data for 2012:

	Fiscal Quarter Ended
	April 28, 2012		July 28, 2012 (b)		October 27, 2012 (c)		February 2, 2013 (d)(e)
	(in millions except per share data)
Net Sales	$	2,154	$	2,399	$	2,050	$	3,856
Gross Profit	902		942		825		1,717
Operating Income	293		305		187		788
Income Before Income Taxes	213		229		128		711
Net Income	125		143		74		411
Net Income Per Basic Share (a)	$	0.43	$	0.50	$	0.26	$	1.43
Net Income Per Diluted Share (a)	$	0.41	$	0.49	$	0.25	$	1.39

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(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 $4 million of expense associated with the store closure initiative at La Senza.

(c) Includes the effect of the following items:

i. A pre-tax gain of $13 million related to $13 million in cash distributions from certain of our investments in Easton; and

ii. A pre-tax expense of $10 million associated with the store closure initiative at La Senza.

(d) Includes the effect of the following items:

(i) A pre-tax charge of $93 million related to the impairment of La Senza goodwill and other intangible assets; and

(ii) A pre-tax charge of $27 million related to the impairment of Henri Bendel long-lived store assets.

(e) The Company utilizes the retail calendar for reporting. As such, the results for fiscal years 2012 and 2011 represent the 53-week period ended February 2, 2013 and the 52-week period ended January 28, 2012, respectively. The 2012 fourth quarter consists of a fourteen week period versus a thirteen week period in 2011.

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

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(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.