Limited Brands Inc. (LTD) raised its fiscal second-quarter
outlook, as the specialty retailer reported overall sales growth
that topped analysts' expectations on a jump in same-store
sales.
The parent of Victoria's Secret and Bath and Body Works commands
a dominant position in the intimate apparel and beauty and personal
care segments, helping the retailer post surging same-store sales
and improved margins.
For the period ended July 30, Limited projected adjusted
earnings of 44 cents to 46 cents, up from the May target of 38
cents to 43 cents.
Net sales for the quarter climbed 9.6% to $2.46 billion, above
the $2.43 billion projection by analysts polled by Thomson Reuters.
Same-store sales increased 9%.
For July, same-store sales grew 6%, topping Wall Street's
expectation of a 4.2% increase and building on 12% growth a year
ago.
Shares rose 2 cents to $36.32 in premarket trading.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com