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Limited Brands way ahead of January forecasts Thursday, 2nd February 2012
The Victoria’s Secret and Bath and Body Works owner saw revenue at stores open at least a year rise 9 per cent in January, much higher than the analyst forecasts.
It’s a coup for the retail group, which was predicted to report a 2.7 per cent rise in same-store sales, according to Thomson Reuters.
Limited Brands on Thursday reported that revenues at Victoria’s Secret stores rose 17 per cent, with analysts expecting just a 3.6 per cent increase. Same-store sales rose 3 per cent at Bath and Body Works, beating a predicted rise of 1.6 per cent.
Total sales for the four weeks ending 28 January rose to USD 774.5 million from USD 772.6 million in the same period last year. Limited said it now expects fourth quarter earnings to be at the high end of its prior guidance of USD 1.42 and USD 1.46 per share, excluding items.