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THE LIMITED, INC. REPORTS FOURTH QUARTER INCOME INCREASED 16 PERCENT

THE LIMITED, INC. REPORTS FOURTH QUARTER INCOME INCREASED 16 PERCENT
 COLUMBUS, Ohio, Feb. 18 /PRNewswire/ -- The Limited, Inc. (NYSE/LSE/TSE: LTD) reported net sales for the 52-week fiscal year ended Feb. 1, 1992, increase 17 percent to $6.149 billion versus $5.254 billion for the 52-week fiscal period last year. Earnings per share were up 1 percent to $1.11 per share. Net income for the year also rose 1 percent to $403.3 million.
 Leslie H. Wexner, chairman, said, "Even after considering the very difficult economic climate, I was still very dissatisfied with our overall results for 1991. Sales, margins and earnings were below our expectations and the year was clearly impacted by missed opportunities."
 Net sales for the fourth quarter increased 18 percent to $2.056 billion from $1.744 billion for the same period last year. Net income for the fourth quarter increased 16 percent to a record $200.3 million from $172.2 million, while earnings per share increased 15 percent to $.55 per share, also a record.
 Wexner commented, "Our fourth quarter earnings were 9.7 percent of sales. While not our best ever, this kind of performance clearly speaks to our ability to ourperform industry norms during periods of economic stress. I was particularly pleased with the performance of Express and Victoria's Secret Stores in achieving record operating income levels durig the fourth quarter."
 In reviewing the year, Wexner made the following comments:
 "Michael Weiss and the Express associates had an outstanding year, demonstrating once again that our customers will respond during times of economic uncertainty if fashion, quality and value are right. I congratulate all the Express associates on producing their first $1 billion sales year and leading all of our businesses in operating income rate and dollars of profit.
 "Victoria's Secret Stores, under Grace Nichols' first year of leadership, achieved significant sales increases and earned record operating income in the fourth quarter. I expect sales and margin growth at Victoria's Secret to be among our best in 1992.
 "Structure, our new men's business, lead by Michael Weiss and General Manager David Mangini, more than doubled its sales in 1991. I believe Structure will make a meaningful contribution to our earnings growth in 1992.
 "Our newest lingerie business, Cacique, produced strong store-for-store gains in 1991. My view is that Cacique will continue to produce sales and
earnings momentum in 1992. The Limited, Inc., through Li mited Stores, Lerner New York, Lane Bryant, Express, Victoria's Secret, Structure, Limited Too, Abercrombie & Fitch, Henri Bendel, Cacique, Bath & Body Works, and Penhaligon's, presently operates 4,194 specialty stores and distributes apparel nationally through the Victoria's Secret, Lane Bryant Direct, Roaman's and Lerner Direct catalogues.
 The Limited, Inc. and Subsidiaries
 Fourth Quarter Report
 Feb. 1, 1992
 The following are The Limited's unaudited results for the fourth quarter of fiscal year 1991, as compared to the fourth quarter of fiscal year 1990:
 Thirteen Weeks Ended
 (in thousands except per share data)
 Percent
 Feb. 1, 1992 Feb. 2, 1991 Incr (Decr)
 Net Sales $2,056,139 $1,743,709 17.9
 Income Before
 Income Taxes $328,345 $282,181 16.4
 Net Income $200,345 $172,181 16.4
 Earnings Per Share $0.55 $0.48 14.6
 Weighted Average
 Shares Outstanding 363,773 361,900 ---
 The following are The Limited's unaudited results for the 52 weeks ended Feb. 1, 1992, as compared to the same period in fiscal 1990:
 Fifty-Two Weeks Ended
 (in thousands except per share data)
 Percent
 Feb. 1, 1992 Feb. 2, 1991 Incr (Decr)
 Net Sales $6,149,218 $5,253,509 17.0
 Income Before
 Income Taxes $660,302 $653,438 1.1
 Net Income $403,302 $398,438 1.2
 Earnings Per Share $1.11 $1.10 0.9
 Weighted Average 363,594 362,044 ---
 -0- 2/18/92
 /CONTACT: Alfred S. Dietzel of The Limited, Inc., 614-479-7070/
 (LTD) CO: The Limited, Inc. ST: Ohio IN: REA SU: ERN DA -- CL004 -- 9749 02/18/92 08:55 EST
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Date:Feb 18, 1992
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