Limited Brands posts earnings gains
COLUMBUS, Ohio Limited Brands reported that adjusted earnings per share for the second quarter ended July 31, were 36 cents compared with 19 cents for the quarter ended Aug. 1, 2009, which exclude certain significant items in both years as detailed below.
The company reported a comparable store sales increase of 7% for the second quarter ended July 31, compared with the second quarter ended Aug. 1, 2009. The company reported net sales of $2.243 billion for the second quarter, compared with sales of $2.067 billion last year.
The company stated that it expects 2010 third quarter earnings per share to be 3 cents to 8 cents compared with adjusted earnings per share of 2 cents per share last year. The company now expects August comparable-store sales to increase in the mid to high single digit range versus its previous guidance for a low single digit increase.
For 2010, the company increased its adjusted earnings per share forecast to $1.68 to $1.83 from $1.60 to $1.80 previously.