Limited Brands Beats, Raises Outlook
Limited Brands, Inc. (LTD), a specialty retailer of women’s intimate and other apparel, beauty and personal care products, recently posted better-than-expected third-quarter 2011 results on the heels of an improving sales environment witnessed across its Victoria's Secret and Bath and Body Works chains. The outperformance also prompted management to raise its fiscal 2011 earnings outlook. The quarterly earnings of 25 cents a share beat the Zacks Consensus Estimate by a penny, and rose 39% from 18 cents earned in the prior-year quarter. The earnings also came ahead of management’s own guidance range of 22 cents to 24 cents a share.
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Limited Brands, which competes with Gap Inc. (GPS) and Hanesbrands Inc. (HBI), posted net sales of $2,173.4 million that climbed 10% from the prior-year quarter, and comfortably beat the Zacks Consensus Estimate of $2,163 million. Comparable-store sales (comps) for the quarter jumped 9% compared with 10% registeredComplete Story »