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THE LIMITED, INC. REPORTS SECOND QUARTER SALES INCREASED 13 PERCENT

 COLUMBUS, Ohio, Aug. 10 /PRNewswire/ -- The Limited, Inc. (NYSE/LSE: LTD) announced today that second quarter net sales grew to $1.689 billion, an increase of 13 percent from $1.489 billion a year ago. Net income of $68.2 million decreased 15 percent from $80.1 million last year. Earnings per share decreased to $.19 per share from $.22 per share last year.
 Leslie H. Wexner, chairman and chief executive officer, said, "I am very disappointed with our results, and I do not accept external causes as an excuse for our sub-standard performance. As I've noted before, several of our businesses continue to demonstrate that the key to producing results, regardless of the environment, is to offer the right fashion and value to our customers. To ensure that our inventories would be in line for the Fall season, we have been promotional across all the businesses, which I believe was the correct action. I'm pleased that we've effectively managed our Spring and Summer merchandise and our inventories are on plan.
 "Once again, I'm pleased to note that the Express associates, now under the leadership of Pamela McConathy, maintained their sales and profit momentum and turned in a very strong quarter.
 "Grace Nichols and her associates at Victoria's Secret Stores are on stride, growing sales and profit momentum comparable to their very strong performance a year ago. Cindy Fedus and the Victoria's Secret Catalogue team also turned in a strong performance with sales growth, margin improvements and profit increases.
 "Our new businesses which, in the aggregate, produced a dramatic improvement in profitability, are proving that we have future growth. Collectively, the improvement of these businesses in the second quarter equaled that of the best of our larger businesses. These new businesses are well on their way to delivering this year's objective of $1 billion in sales. Noteworthy performances were achieved at Limited Too, Abercrombie & Fitch, Bath & Body Works and Structure."
 The Limited, Inc., through Express, Limited Stores, Lerner New York, Lane Bryant, Victoria's Secret, Structure, Limited Too, Abercrombie & Fitch, Henri Bendel, Bath & Body Works, Cacique, and Penhaligon's, presently operates 4,481 specialty stores and distributes apparel nationally through the Victoria's Secret, Lane Bryant, Roaman's and Lerner Direct catalogues.
 -0- 8/10/93
 /CONTACT: Alfred S. Dietzel of The Limited, Inc., 614-479-7070/
 (LTD)


CO: The Limited, Inc. ST: Ohio IN: REA SU: ERN

BM -- CL004 -- 1054 08/10/93 08:55 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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