(Filed Under Financial and General Interest News). Limited Brands, Inc. (now known as L Brands, Inc.), parent to Victoria’s Secret, reported increased sales and income for the second quarter and increased its guidance for per share earnings for the full year.
Net income in the second quarter rose to $178,914,000 on sales of $2,515,953,000 for the second quarter ended August 3, 2013, compared with income of $143,649,000 on sales of $2,399,095,000 for the same period last year, ended July 28, 2012.
The company announcement noted that “Earnings per share for the second quarter...increased 22% to $0.61 compared to adjusted earnings per share of $0.50 for the quarter ended July 28, 2012. Second quarter operating income was $357.8 million compared to an adjusted $308.9 million last year, and net income was $178.9 million compared to an adjusted $147.2 million last year. Adjusted results exclude one significant item as detailed below: In 2012: A pre-tax charge of $3.6 million, or $0.01 per share, related to La Senza store closures. Including the significant item above, reported 2012 second quarter earnings per share were $0.49; operating income was $305.3 million; and net income was $143.6 million.”
L Brands also “reported a comparable store sales increase of 2 percent for the 13 weeks ended Aug. 3, 2013, compared to the 13 weeks ended Aug. 4, 2012.” The company’s other stores include La Senza lingerie stores in Canada as well as Bath & Body Works and Henri Bendel.
L Brands “stated that it expects 2013 third quarter earnings per share to be $0.23 to $0.28” and that for the full year, 2013, “the company expects earnings per share of $3.06 to $3.21 versus its previous guidance of $2.95 to $3.15.”
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