Filed by The Limited, Inc.
Pursuant to Rule 425 under the
Securities Act of 1933 and deemed
Filed pursuant to Rule 14a-12 under
the Securities Exchange Act of 1934
Subject Company: Intimate Brands, Inc.
Commission File No. 1-13814
Date: February 7, 2002
On February 7, 2002, Intimate Brands, Inc. issued the following press release:
INTIMATE BRANDS REPORTS JANUARY SALES
Columbus, Ohio (February 7, 2002) -- Intimate Brands, Inc. (NYSE: IBI) reported
that comparable store sales for the four weeks ended February 2, 2002 increased
7% compared to the four weeks ended February 3, 2001. The Company reported net
sales of $341.8 million for the four-week period ended February 2, 2002
compared to sales of $407.3 million for the five-week period ended February 3,
2001. Excluding the extra week in January last year, the sales increase from
the comparable four-week period last year was 16%.
Comparable store sales for the thirteen weeks ended February 2, 2002 were flat
compared to the thirteen weeks ended February 3, 2001. Net sales were $1.936
billion for the thirteen weeks ended February 2, 2002 compared to $1.938
billion for the fourteen weeks ended February 3, 2001. Excluding the extra week
in the fourth quarter, the sales increase from the comparable thirteen-week
period last year was 4%.
The Company reported a comparable stores sales decrease of 5% for the fifty-two
weeks ended February 2, 2002, compared to the fifty-two weeks ended February 3,
2001. Net sales were $5.021 billion for the fifty-two weeks ended February 2,
2002 compared to $5.117 billion for the fifty-three weeks ended February 3,
2001. Excluding the extra week last year, sales were flat to the comparable
period last year.
As a reminder, Intimate Brands will report fourth quarter earnings on February
28, 2002 at 8:45 a.m. EST.
About Intimate Brands, Inc.:
Intimate Brands, Inc. is the leading specialty retailer of intimate apparel,
beauty and personal care products through the Victoria's Secret and Bath & Body
Works brands. As of February 2, 2002, Victoria's Secret products are available
through 906 lingerie and 495 beauty stores (of which 96 are stand-alone), the
Victoria's Secret Catalogue and online at www.VictoriasSecret.com. The Company
offers a broad selection of personal care, home fragrance and decor products
through 1,584 Bath & Body Works and 127 White Barn Candle Company stores (of
which 31 are stand-alone).
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: All forward-looking statements made by the Company in this press release
or the January sales call involve risks and uncertainties and are subject to
change based on various important factors, many of which may be beyond the
Company's control. Accordingly, the Company's 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" and similar expressions may
identify forward-looking statements. The following factors, among others, in
some cases have affected and in the future could affect the Company's financial
performance and actual results and could cause actual results for 2001 and
beyond to differ materially from those expressed or implied in any
forward-looking statements included in this press release or the January sales
call or otherwise made by management: changes in consumer spending patterns,
consumer preferences and overall economic conditions; the potential impact of
national and international security concerns on the retail environment; the
impact of competition and pricing; changes in weather patterns; political
stability; postal rate increases and charges; paper and printing costs; risks
associated with the
seasonality of the retail industry; risks related to consumer acceptance of the
Company's products and the ability to develop new merchandise; the ability to
retain, hire and train key personnel; risks associated with the possible
inability of the Company's manufacturers to deliver products in a timely
manner; risks associated with relying on foreign sources of production and
availability of suitable store locations on appropriate terms and other factors
that may be described in the Company's filings with the Securities and Exchange
Commission. The forward-looking information provided in this press release or
the January sales call is based on information available to the Company as of
the date of this press release. The Company does not undertake to publicly
update or revise its forward-looking statements even if experience or future
changes make it clear that any projected results expressed or implied therein
will not be realized.
###
For further information, please contact:
Debbie J. Mitchell
Vice President, Communications and Investor Relations
Intimate Brands, Inc.
(614) 415-7546
www.IntimateBrands.com
(attachment: Comparable Store Sales and Store Count, page 3)
INTIMATE BRANDS, INC.
JANUARY 2002
Comparable Store Sales Increase (Decrease):
Fourth Fourth Year-to-date Year-to-date
January 2002 January 2001 Quarter 2001 Quarter 2000 2001 2000
------------ ------------ ------------ ------------ ------------ ------------
Victoria's Secret Stores 11% (3%) 10% (4%) 0% 5%
Bath & Body Works 1% 1% (10%) (2%) (11%) 1%
Intimate Brands, Inc. 7% (1%) 0% (3%) (5%) 4%
Total Stores:
Stores
Beginning Year-to-date Acquired Operating
of Year Opened Closed (Disposed) at 2/2/02
---------------------------------------------------------------
Victoria's Secret Stores 958 60 (16) - 1,002
Bath & Body Works 1,432 191 (8) - 1,615
---------------------------------------------------------------
Total Intimate Brands 2,390 251 (24) - 2,617
Additional Information
In connection with the proposed transaction, The Limited, Inc. has
filed an exchange offer prospectus and a proxy statement with the Securities
and Exchange Commission. INVESTORS AND STOCKHOLDERS ARE ADVISED TO READ THESE
AND ALL RELATED DOCUMENTS BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors
and stockholders may obtain a free copy of the exchange offer prospectus, the
proxy statement and related documents from the Securities and Exchange
Commission's web site at http://www.sec.gov. Free copies of these documents may
also be obtained from The Limited by directing a request to The Limited, Inc.,
Investors Relations, Three Limited Parkway, Columbus, Ohio 43216, (614)
415-7076.
The Limited and its directors, executive officers and other members of
its management and employees may be soliciting proxies from its stockholders in
connection with the proposed transaction. Information concerning The Limited's
participants in the solicitation is contained in a filing made by The Limited
with the Securities and Commission pursuant to Rule 14a-12 on February 4, 2000
