Limited Brands profit surges in Q3
Columbus, Ohio -- Limited Brands reported Wednesday that net income for the quarter ended Oct. 30 soared to $61.3 million, compared with $6.1 million a year earlier. The company also said it would repurchase $200 million in shares.
Same-store sales increase 10%, and net sales were $1.99 billion compared with $1.78 billion last year.
“The significant increase in our year-to-date earnings and the continued disciplined management of inventory, capital spending and our capital structure have resulted in a very strong cash and liquidity position,” said Leslie H. Wexner, chairman and CEO. “We are confident in our ability to deliver substantial growth in our business and to generate significant free cash flow.”
Limited Brands, through Victoria's Secret; Pink; Bath & Body Works; La Senza; C.O. Bigelow; White Barn Candle Co. and Henri Bendel, operates 2,665 specialty stores in the United States and its brands are sold in more than 700 company-operated and franchised additional locations worldwide.