Limited Brands Q2 Profit Jumps 29% on Higher Sales

Limited Brand's Victoria's SecretColumbus, OH–Limited Brands Inc., which operates Victoria’s Secret, exceeded estimates for its second quarter profit and sales and raised its full year forecast on Wednesday afternoon.

Net income for its second quarter jumped 29% to $231.2 million, or 73 cents a share, in the second quarter, up from a profit of $178.7 million, or 29 cents a share, a year ago. (The latest quarter results include non-taxable gain of $147.1 million or 47 cents a share, and a pre-tax expense of $113.4 million or 22 cents per share, related to the charitable contribution of all of the company’s remaining shares of Express, Inc. to the Limited Brands Foundation.

Excluding such items, adjusted net income for the second quarter was $150.7 million or 48 cents a share per share, compared to $120.6 million or 36 cents a share in the prior year quarter.

Revenue grew 10% to $2.46 billion from $2.24 billion in the prior year quarter. Comparable store sales increased 9%.

Analysts’ average estimate expected a smaller profit of 45 cents a share on lower sales of $2.44 billion.

“We’re pleased with our second quarter performance. Our focus on managing inventory and expenses conservatively and staying agile yielded more full-priced selling and record results,” said Leslie Werner, chairman/coo.” As we enter the fall season, we will remain focused on our customers, and we see opportunity to continue to do better.”

The company said it expects a better August sales—with comparable store sales to be in the high single digits—versus its previous guidance for low single digit growth.

Not only does the company expect better August sales than originally planned, but full-year share earnings are now projected in a range between $2.35 and $2.50, up from a previous range of $2.25 to $2.45.

‘Staying Agile’

Analysts’ average estimate expects earnings of $2.46 for its full year.

For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.

Like this? Share it!