Limited Brands Q2 profit jumps
Columbus, Ohio Limited Brands reported Thursday that its net income for the quarter ended July 31 leapt to $178.7 million, compared with a profit of $74.3 million in the year-ago period.
The owner of Victoria’s Secret and Bath and Body Works said results were impacted positively as more Americans shopped at its mall stores and it recorded several one-time gains.
Total revenue rose nearly 9% to $2.2 billion.
Limited Brands said it has improved its profitability by moving away from clothing toward more profitable beauty products and lingerie.
In addition to Victoria's Secret and Bath and Body Works, the company operates Canadian lingerie chain La Senza. It sold its remaining 25% stake in namesake Limited Stores LLC in June to the chain's majority owner for $32 million.