Limited Brands Q4 income up 14%; outlook weak
Columbus, Ohio -- Limited Brands Inc. said that its fourth quarter net income in the 14-week period through Feb. 2, 2013, rose a better-than expected 14% to $411.4 million. That compares to a 13-week period that ended on Jan. 28, 2012, in which net income came to $359.4 million. The chain also forecast profit for the current quarter and fiscal year below analysts' expectations.
Revenue rose 10% in the quarter to $3.86 billion from $3.52 billion. When compared to a similar 14-week period a year ago, revenue grew 5%. Analysts were looking for revenue of $3.85 billion.
For the first quarter, Limited Brands said it expects earnings of 40 cents to 45 cents per share, below the 51 cents expected by analysts. It also said it expects full-year earnings of $2.92 to $3.12 per share, also below the $3.25 that analysts were forecasting.
The company reported a comparable stores sales increase of 6% for the 53-week year ended Feb. 2, 2013, compared to the 53 weeks ended Feb. 4, 2012. Net sales were $10.459 billion for the 53-week year ended Feb. 2, 2013, compared to $10.364 billion for the 52 weeks ended Jan. 28, 2012.