Segment Information
 6 Months Ended
Jul. 28, 2012
Segment Information [Abstract]  
Segment Information
Segment Information
The Company has two reportable segments: Victoria’s Secret and Bath & Body Works. Prior to the fourth quarter of 2011, the Victoria’s Secret reportable segment consisted of the Victoria’s Secret and La Senza operating segments which were aggregated in accordance with the authoritative guidance included in ASC Topic 280, Segment Reporting. In the fourth quarter of 2011, the Company ceased aggregating La Senza with Victoria's Secret. While this reporting change did not impact the Company's consolidated results, segment data for previous years has been recast to be consistent with the current year presentation throughout the financial statements and the accompanying notes.
The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products under the Victoria’s Secret and Victoria’s Secret Pink brand names. Victoria’s Secret merchandise is sold through retail stores, its website, www.VictoriasSecret.com, and its catalogue.
The Bath & Body Works segment sells personal care, beauty and home fragrance products under the Bath & Body Works, C.O. Bigelow, White Barn Candle Company and other brand names. Bath & Body Works merchandise is sold at retail stores and through its website, www.BathandBodyWorks.com.
Other consists of the following:
•
Mast Global, a merchandise sourcing and production function serving the Company and its international partners;
•
International retail, franchise, license and wholesale operations, which include the company-owned La Senza, Bath & Body Works and Victoria’s Secret stores in Canada;
•
Henri Bendel, a chain of specialty stores which feature accessories and personal care products; and
•
Corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.
The following table provides the Company’s segment information for the second quarter and year-to-date 2012 and 2011. As discussed above, certain reclassifications have been made to amounts for prior periods to conform to the current year's presentation.
 
Victoria’s
Secret
 
Bath &
Body Works
 
Other
 
Total
 
(in millions)
2012
 
 
 
 
 
 
 
Second Quarter:
 
 
 
 
 
 
 
Net Sales
$
1,577

 
$
609

 
$
213

 
$
2,399

Operating Income (Loss)
256

 
88

 
(39
)
 
305

Year-to-Date:
 
 
 
 
 
 
 
Net Sales
$
3,047

 
$
1,114

 
$
392

 
$
4,553

Operating Income (Loss)
534

 
148

 
(84
)
 
598

2011
 
 
 
 
 
 
 
Second Quarter:
 
 
 
 
 
 
 
Net Sales
$
1,457

 
$
563

 
$
438

 
$
2,458

Operating Income (Loss)
239

 
70

 
(115
)
 
194

Year-to-Date:
 
 
 
 
 
 
 
Net Sales
$
2,812

 
$
1,043

 
$
820

 
$
4,675

Operating Income (Loss)
484

 
124

 
(198
)
 
410



In the fourth quarter of 2011, we divested 51% of our third-party apparel sourcing business, which was included in Other in the table above. For additional information, see Note 8, "Equity Investments and Other."

The Company’s international sales, consisting of La Senza, Victoria's Secret Canada and Bath & Body Works Canada retail sales; non-U.S. franchise, license and wholesale operations; and direct sales shipped internationally, totaled $239 million and $245 million for the second quarter of 2012 and 2011, respectively.