2014 2015 2016 2017 2018 2019E

Revenue Growth 6% 6% 3% 0% 5%
Gross margin 41% 42% 43% 41% 39%
Operating margin 16% 17% 18% 16% 14%
EPS $3.50 $4.22 $3.98 $3.42 $2.31 $2.40
Debt/EBITDA 0.90 1.01 1.01 1.03 3.14
Divided per share $2.36 $4.00 $4.40 $2.40 $2.40 $1.20
 2013 2014 2015 2016 2017 2018
Revenue 10773 11457 12154 12574 12632 13237
Gross profit 4429 4808 5204 5125 4959 4889
Operating margin 1743 1953 2192 2003 1728 1,237
Long-term debt 4711 4722 5715 5700 5707 5739
EBITDA 4836 5246 5661 5643 5530 1,827
 Dollar Share
Victoria's Secret 24%
Walmart 11%
Kohl 7%
Amazon.com 7%
Target Corp. 6%
Macy's 3% Dollar Share
Lane Bryant 3%
Others
Ross Dress for Less 3%
JCPenny
JCPenny 3%
Ross Dress for Less
Others 33%
Lane Bryant
Macy's
Target Corp.
Amazon.com
Kohl
Walmart
Victoria's Secret
0% 5% 10% 15% 20%
Dollar Share

7.708333

5% 10% 15% 20% 25% 30% 35%

Net sales
Operating income
Net income