Limited Brands May same-store sales decline

COLUMBUS, Ohio (AP) _ Limited Brands Inc. said Thursday its same-store sales slipped 6 percent reflecting the absence of Express and Limited Stores sales results.

Analysts polled by Thomson Financial expected same-store sales to drop 5.5 percent.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Year-ago results included Express sales through July 6, 2007, the closing date of the sale of Limited's majority stake to Golden Gate Capital affiliates. They also included Limited Stores sales through Aug. 3, 2007, the closing of the transfer of a majority interest to Sun Capital Partners affiliates.

Total sales for the four-week period ended May 31 declined 15 percent to $661.3 million from $774.7 million.

Same-store sales for the 17 weeks ended May 31 fell 7 percent, while total sales dipped 16 percent to $2.59 billion from $3.09 billion.

Limited Brands, which operates Victoria's Secret, Pink, Bath&Body Works, C.O. Bigelow, La Senza, White Barn Candle Co. and Henri Bendel, currently has 2,985 specialty stores.