Limited Brands' 4Q beats Street; outlook weak
COLUMBUS, Ohio (AP) — Limited Brands Inc., the specialty store operator of such chains as Victoria's Secret and Bath & Body Works, said Wednesday that its fourth-quarter net income rose 14 percent as sales grew.
Net income in the 14-week period through Feb. 2 came to $411.4 million, or $1.39 per share. That compared to a 13-week period that ended on Jan. 28, 2012, in which net income came to $359.4 million, or $1.17 per share.
Excluding impairment charges at its La Senza and Henri Bendel chains, adjusted earnings came to $1.76 per share. That slightly beat the $1.74 expected by analysts polled by FactSet.
Revenue rose 10 percent to $3.86 billion from $3.52 billion. When compared to a similar 14-week period a year ago, revenue grew 5 percent.
Analysts were looking for revenue of $3.85 billion.
For the first quarter, Limited Brands said it expects earnings of 40 cents to 45 cents per share, below the 51 cents expected by analysts. It also said it expects full-year earnings of $2.92 to $3.12 per share, also below the $3.25 that analysts were forecasting.
Shares fell 14 cents to $44.36 in after-hours trading following the earnings release. Earlier, shares closed up 87 cents, or 2 percent, at $44.50 in the regular session.