Columbus, OH—Limited Brands, parent of Victoria’s Secret and Henri Bendel, reported Wednesday that its third quarter profit was better-than-expected buoyed by improved operating margins.
For the quarter ended Oct 29, Limited Brands posted net income of $94.3 million, or 31 cents a share, down from $61.3 million, or 18 cents a share, a year ago. Excluding one-time items, the company earned 25 cents a share when analysts’ average estimate expects 24 cents a share.
The company, which also operates La Senza, a lingerie chain, kept tight reigns on costs, improving its operating margin from 7.53% to 8.60%.
Earlier this month, Limited Brands reported that its third quarter sales jumped 10% to $2.17 billion. Total comparable store sales increased 9%.
As a result of its third quarter momentum, the company once again raised its full-year forecast, though not as much as analysts had expected.
For its fourth quarter, Limited Brands expects earnings of $1.28 to $1.43 a share while analysts’ average estimate expects $1.42 a share. For its full fiscal year, Limited revised its forecast from $2.35 to $2.50 a share up to $2.38 to $2.53 a share. Analysts’ average estimate expects $1.42 a share.