LTD reported a comparable store sales increase of 12% for the month. This beat analysts’ estimates of 8.5%. Net sales increased 11.8% to $670.9 million. These positive results are mostly attributed to Victoria’s Secret which had a 35% increase in same store sales.
LTD reported net sales for January increased 24% to $772.6 million compared to January 2010. Comparable store sales increased 24%, which was drastically higher than analysts’ estimates of a 6.9% increase. LTD raised its fourth quarter earnings per share estimate to $1.23 - $1.25, which is higher than analysts’ estimates of $1.20. The positive performance for the month is strongly attributed to Victoria’s Secret stores, whose net sales increased 35% for the month.
For December, LTD reported a same store sales increase of 5% which beat analysts' expectations of a 4.6% increase. LTD also reported a 7.8% increase in net sales for the month, compared to December 2009.
In November, LTD reported a net sales increase of 14% to $893 million from the same period a year ago. Comparable store sales increased 10% for the month. Victoria's Secret stores, La Senza, and Bath & Body Works had comparable store sales changes of 13%, -10%, and 8% respectively.
Operating income increased 153% to $149.1 million compared to the same period last year. Net income was $61.3 compared to adjusted net income of $6.1 from the same period last year. Comparable store sales increased 10% while net sales increased 11.6% to $1.98 billion from last year. Revenue for third quarter was $1.983 billion, which is above the market consensus of $1.97 billion
For October, comparable store sales increased 9%, which was higher than analysts' estimates of 6.3% increase.[6] Its net sales increased 10% to $617.3 million compared to the same period last year.
For September, LTD's comparable store sales and net sales increased by 12% from August. Net sales are now $753.8 million. All of the Limited Brands' branches also performed well with Victoria's Secret Stores sales rising 13%, Bath & Body Works rising 11%, and La Senza increasing 3% compared to August's sales.
Chairman and CEO Leslie Wexner sold 4.5 million shares of LTD at $25.37 per share, result ing in a total of $114.17 million. This large sale of shares could reflect top management's belief that the brand will not fare well in the future.
Limited Brands reported net sales of $630.3 million for the month ended August 28, 2010, which is a 12.3% increase from the $561.4 sales of August 2009. Comparable store sales increased 10% compared to the month of August 2009.
LTD reported a comparable store sales increase of 4 percent for the four weeks ended May 1, 2010, compared to the four weeks ended May 2, 2009. The company reported net sales of $584.6 million for the four weeks ended May 1, 2010, compared to net sales of $531.2 million last year.
Limited Brands is creating Limited Brands Canada, a Montreal-based company that will support all Limited Brands retail stores and strategic expansion in Canada, including La Senza, Bath and Body Works, Victoria's Secret Pink and Victoria's Secret (launching later this year). Additionally, the company will consolidate the creative and merchant leadership of its international businesses to the Limited Brands World Headquarters in Columbus, Ohio, to better support customers and associates. As a result, La Senza's creative and merchandising functions will relocate to Columbus. This structure will better connect La Senza to enterprise resources and support its advances in product, store experience and brand position.
Despite increasing their discounts, same-store sales for LTD dropped 10% in December.
Citigroup downgraded LTD from a "Buy" to a "hold" after observing that its Victoria's Secret sales have substantially declined.
On November 20, 2008 LTD reported that it's same-store sales were down 7% from last year's Q3 numbers. Its Q3 net income fell to $4.2 million, down from $12.1 million in the same quarter last year.
Limited Brands reported negative results for June 2008, as net sales fell 19% and comparable store sales declined 9%, as the sluggish U.S. economy led shoppers away from high-priced retailers, especially stores that sell non-necessity products like many of Limited Brands' operations.
Limited Brands reported a 15% decrease in net sales in May 2008, and a 6% decrease in comparable store sales.
Limited Brands reported an 8% decrease in same store sales for the first quarter of fiscal 2008, whereas the company had previously anticipated flat (0%) same store sales growth in the quarter. However, the company's earnings guidance for Q2 and full year FY08 meet analysts' estimates, which expect an improvement in sales and earnings through the rest of the year.
Limited Brands reported net sales of 1.9 billion (down from 2.1 billion last year) for the fall quarter, due in part to the recent divestment of its apparel business and also to the weak retail environment. Unseasonably warm weather caused a comp store sales decline of 3% for the quarter, and company executives announced that they would be lowering earnings guidance for the winter quarter from flat comp store sales growth to negative. The company also plans to artifically stem demand for its Victoria's Secret products ths holiday season by reducing circulation of its prominent lingerie catalog.
LTD announces that Vice Chairman and Chief Operating Officer Len Schlesinger has decided to resign. Schlesinger had been with the company since 1999.
In an effort to divest itself of troublesome apparel businesses in a weak clothing retail environment, Limited Brands sells a 75% stake each in its Express and Limited Stores ("The Limited") apparel businesses to Golden Gate Capital. The company expresses its hopes of being able to now concentrate more fully on its more profitable intimates and bath/body consumer products divisions.
