BATH & BODY WORKS The Bath & Body Works segment sells personal care, beauty and home fragrance products under the Bath & Body Works, C.O. Bigelow and White Barn Candle Company brand names in addition to third-party brands. Bath & Body Works merchandise is sold through stores, its website, www.bathandbodyworks.com, and its catalogue.

The Bath & Body Works segment had net sales of $2.374 billion for 2008 and operated 1,638 stores in the .

OTHER Other consists of the following: • Henri Bendel, operator of five specialty stores which feature accessories, fashion and personal care products; • Bath & Body Works Canada, operator of six specialty stores which feature personal care, beauty and home fragrance products; • Mast, an apparel merchandise sourcing and production company serving Victoria’s Secret, and third-party customers; • Beauty Avenues, a personal care sourcing and production company serving Victoria’s Secret, La Senza and Bath & Body Works; and • Corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.

For additional information about our business, including our net sales and profits for the last three years and selling square footage, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation. For the financial results of our reportable segments, see Note 21 to the Consolidated Financial Statements included in Item 8. Financial Statements and Supplementary Data.

SUMMARY OF COMPANY-OWNED RETAIL LOCATIONS The following chart provides the retail businesses and the number of our company-owned retail stores in operation for each business as of January 31, 2009 and February 2, 2008.

January 31, February 2, 2009 2008 Victoria’s Secret Victoria’s Secret Stores ...... 1,043 1,020 La Senza ...... 322 312 Total Victoria’s Secret ...... 1,365 1,332 Bath & Body Works ...... 1,638 1,592 Henri Bendel ...... 5 2 Bath & Body Works Canada ...... 6 — Total ...... 3,014 2,926

2