Limited Brands March Same-Store Sales Impress Again
07 April 2011 - 10:07PM
Dow Jones News
DOW JONES NEWSWIRES
Limited Brands Inc. (LTD) posted a surprise double-digit
increase in same-store sales for the third-straight month, sharply
beating Wall Street estimates for March.
Surging same-store sales and improved margins have driven the
bottom line of late at the parent of Victoria's Secret and Bath
& Body Works.
For the five weeks ended April 2, Limited's same-store sales
jumped 14%, well ahead of the 1.5% increase forecast from analysts
polled by Thomson Reuters. At the beginning of March, Limited
guided for roughly flat same-store sales for the month. Net sales
rose 16% to $863 million in the period.
Shares closed at $35.23 Wednesday and were inactive premarket.
The stock has risen 23% over the past three months.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;
Andrew.FitzGerald@dowjones.com
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