(Filed Under Financial and General Interest News). Limited Brands, Inc., the parent company of Victoria’s Secret, has shown overall sales growth for the first time in three years.
In fiscal 2011, which ended this past January, Limited Brands’ sales grew 11 percent to $9.6 billion, following sales declines of 5 percent, 11 percent and 5 percent the last three years respectively.
Net profit for the first quarter of 2011 was $165.2 million, or 50 cents a share, compared to $112.5 million, or 34 cents per share, for the first quarter last year.
Sales rose from 2010’s $1.93 billion to $2.22 billion this year. Sales at stores open for at least one year increased 15 percent.
Based on these showings, Limited Brands has raised its forecast from a range of $2.15 to $2.35 a share to a range of $2.25 to $2.45 a share for the full year.
Limited Brands operates 2,956 stores across the U.S. and Canada, including Victoria’s Secret, Bath & Body Works, Henri Bendel and Canadian lingerie retailer La Senza.
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