Limited Brands Inc. (LTD) raised its fiscal fourth-quarter
earnings target on the heels of December same-store sales
performance that easily topped analyst estimates.
The parent of Victoria's Secret and Bath & Body Works
commands a dominant position in the intimate apparel and beauty and
personal care segments, which has helped the retailer post surging
same-store sales and improved margins.
For the five weeks ended Dec. 31, Limited Brands reported a 7%
increase in same-store sales, topping the 5.7% jump expected by
analysts surveyed by Thomson Reuters.
The company now expects to record earnings of $1.42 to $1.46 a
share in its fiscal fourth quarter, pushing above the $1.28 to
$1.43 per-share profit projected in November.
The company has reported quarterly profit growth for more than
two years with help from tight inventory management and
conservative spending efforts. Fiscal third-quarter earnings rose
54% as same-store sales jumped 9%.
Shares closed Wednesday at $39.66 and were inactive in premarket
trade. The stock is up 34% in the past 12 months.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com