Shares of Limited Brands, Inc.  (Public, NYSE:LTD) have fallen to levels that haven’t been seen since 2003. At $15 shares, is the stock worth a look?

You may or may not know, Limited Brands owns the Victoria’s Secret Brands, along with Bath & Body works. This isn’t the first time I’ve written about them; Limited Brands needs a checkup at least once a year.

Since I touched on them last, they divested their interest in both the Express and Limited Stores. What did that leave them with? Not a lot in terms of Revenue and Growth. This is one of the reasons I believe shares haven’t bottomed out yet.

Why? Because of the Economy and Retail  are sagging like Jack Nicholson’s Man Boobs. It’s every man’s worst nightmare. You saw it on the Seinfeld episode, “The Mansierre,” in which Kramer developed a bra for guys who were suffering from a little too much breast development.

Anyway, back to the Retail Sector. Just look at J Crew Group (JCG) down -49% in the last 52 weeks, American Eagle (AEO) – 55%, and shares of The Gap (GAP) are down -17%. The Powershares Dynamic Retail ETF (PMR) is down nearly -22% in the last year. Not a fun time to be investing in the Retail.

Or is it? When investing, a good rule of thumb is to buy when everyone is spazzing out (That rule may not apply to the Financial Sector right now, with banks closing their doors left and right). But Retail isn’t under the scrutiny that the Financials are experiencing right now.

Unless we have some Retro 60’s fad happen, women need their bras. So let LTD fall a little more, then swoop in and pick up some shares of a company and brand that isn’t going away anytime soon.

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