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Limited: L Brands Reports Record Third Quarter 2015 Earnings - PROVIDES FOURTH QUARTER AND RAISES FULL-YEAR 2015 EARNINGS GUIDANCE -

The following excerpt is from the company's SEC filing.

Columbus, Ohio, Nov. 18, 2015 - L Brands, Inc. (NYSE: LB) today reported 2015 third quarter results.

Third Quarter Results

Earnings per share for the third quarter ended Oct. 31, 2015, increased 25 percent to a record $0.55 compared to $0.44 for the quarter ended Nov. 1, 2014. Third quarter operating income increased 19 percent to $338.8 million compared to $284.1 million last year, and net income was $164.0 million compared to $131.8 million last year.

The company reported net sales of $2.482 billion for the quarter ended Oct. 31, 2015, an increase of 7 percent compared to net sales of $2.3 19 billion for the quarter ended Nov. 1, 2014. Comparable store sales increased 7 percent for the quarter ended Oct. 31, 2015.

Leslie H. Wexner, Chairman and CEO, commented, “We delivered record results in the third quarter. Our brands are differentiated and have high emotional content and we continue to deliver new, compelling merchandise in an exciting in-store experience. We remain focused on executing fundamentals and staying close to our customers. We are pleased with our month-to-date performance and we are well-positioned for the most significant part of our year which is in front of us.”

2015 Outlook

The company stated that it expects 2015 fourth quarter earnings per share to be $1.85 to $1.95. The company raised its adjusted full-year earnings forecast to $3.69 to $3.79 per share from $3.58 to $3.73 previously, which incorporates the third quarter earnings beat to its previous forecast and increased fourth quarter interest expense of approximately $0.04 per share related to its recent $1 billion note issuance. The full-year guidance also includes the previously announced negative foreign exchange impact of approximately $0.12 per share.

Earnings Call Information

L Brands will conduct its third quarter earnings call at 9:00 a.m. Eastern on November 19. To listen, call 1-866-363-4673 (international dial-in number: 1-973-200-3978). For an audio replay, call 1-855-859-2056 (conference ID 33156271) (international replay number: 1-404-537-3406 (conference ID 33156271)) or log onto

www.LB.com

. Additional third quarter financial information is also available at

ABOUT L BRANDS:

L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 3,003 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in more than 700 additional noncompany-owned locations worldwide. The company’s products are also available online at

www.VictoriasSecret.com

www.BathandBodyWorks.com

www.HenriBendel.com

www.LaSenza.com

VICTORIA'S SECRET / BATH & BODY WORKS / PINK / LA SENZA / HENRI BENDEL

Three Limited Parkway Columbus, OH 43230 www.LB.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

L Brands, Inc. cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the third quarter earnings call involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our 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,” “planned,”...


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