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current news

Limited 4q Comp. Sales +1%

(Filed Under Financial and General Interest News). During the fourth quarter ended January 30th, 2010, Limited Brands cited a comparable store sales increase of 1 percent. Net sales were $3.063 billion compared to $2.991 billion last year. Adjusted earnings per share increased 49 percent, to $1.01 from 68 cents.

In the Victoria’s Secret channel, comparable store sales were flat, while net sales increased 1 percent to $1.2 billion. In a February 25th conference call, Sharen Jester Turney, chief executive officer and president of Victoria’s Secret, called sales performance positive at stores across merchandising categories, with bras, the brand’s best-selling category, up from last year. Panties were also up, which she attributed to an improved assortment with brighter colors, a fashion focus and an increased number of styles that match bras. Under the PINK brand, sleep bottoms and tops in the collegiate program remained strong. Victoria’s Secret Direct sales were up 3 percent.

During the first quarter of 2010, Turney said the division will add more fashion and color to products with an emphasis on push-up bras due to the recent success of this category. In March, the company will add three new bras under BODY by Victoria: a push-up, a racerback demi and a strapless convertible. In April, the division will introduce bras with less padding and a lighter feel. Turney added that Victoria’s Secret is also focusing on its teen bra business, as well as launching more panties that match bras, and that include vibrant colors and patterns.

Limited Brands presently operates 2,971 specialty stores through Victoria’s Secret, Pink, Bath & Body Works, C.O. Bigelow, La Senza, White Candle Barn Co. and Henri Bendel.

more Financial and General Interest News >>

Published 02-26-2010 by Amanda Torres Price

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