(Filed Under Financial and General Interest News). Limited Brands, parent to Victoria’s Secret, raised its full year guidance for 2012 as it reported its second quarter earnings.

In a statement, the company reported “it expects 2012 third quarter adjusted earnings per share to be $0.15 to $0.20 compared to adjusted earnings per share of $0.25 per share last year. For 2012, the company expects earnings per share of $2.73 to $2.88 versus its previous guidance of $2.63 to $2.83.”

Explaining its second quarter results, the company stated, “Adjusted earnings per share for the second quarter ended July 28, 2012, were $0.50 compared to adjusted earnings per share of $0.48 for the quarter ended July 30, 2011. Second quarter adjusted operating income was $308.9 million compared to $307.0 million last year, and adjusted net income was $147.2 million compared to $150.7 million last year. Adjusted results exclude certain significant items as detailed below:

In 2012: A pre-tax charge of $3.6 million, or $0.01 per share, related to La Senza store closures.

In 2011 (totaling to a benefit of $0.25 per share): A non-taxable gain of $147.1 million, or $0.47 per share, and a pre-tax expense of $113.4 million, or $0.22 per share, related to the charitable contribution of all of the company’s remaining shares of Express (NYSE: EXPR) to the Limited Brands Foundation.

Including the significant items above, reported second quarter earnings per share were $0.49 compared to $0.73 last year; operating income was $305.3 million compared to $193.5 million last year; and net income was $143.6 million compared to $231.2 million last year.

Comparable store sales for the second quarter increased 8 percent, and net sales were $2.399 billion compared to $2.458 billion last year. Second quarter 2011 sales included $216.6 million attributable to the third party apparel sourcing business, which was sold in November 2011.”

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Published 08-29-2012 by -