Sales figures, by contrast, were not affected by the restatement, and were the same in the final report as the preliminary one. Total sales rose to $3.33 billion from $3.23 billion, and comp-store sales in the fourth quarter rose 2% over Q4 2003.

The restatement came on the heels of a poor showing in March for the retailer, which operates over 3,730 stores, including Victoria's Secret, Bath & Body Works, Express, Limited Stores, White Barn Candle Co. and Henri Bendel. Limited Brands' aggregate comp-store sales decreased of 7% for the five weeks ended April 2, 2005, compared to the five weeks ended April 3, 2004; the company also reported a comp-store sales decrease of 6% for the nine weeks ended April 2, 2005, compared to a similar period last year.

Dragging things down in March were the comps at the company's apparel group (Limited Stores and Express), which were down 24%. At Victoria's Secret, "results were below expectation in bras, panties and beauty," said Amie Preston, VP of investor relations for the retailer, during last week's March earnings conference call. Victoria's Secret posted a meager 1% gain in comps in March.