Limited Brands Profit Drops 66% in 3Q
Columbus, Ohio Limited Brands Inc. reported that its third-quarter profit dropped 66% as sales fell amid the struggling state of the economy.
The company reported earnings of $4.17 million, down from $12.1 million a year ago.
Last year, Limited sold majority stakes of its Limited and Express apparel chains to focus on its Victoria's Secret and LaSenza lingerie stores, its Bath & Body Works stores and others.
Revenue fell 4% to $1.84 billion from $1.92 billion, while same-store sales fell 7%.