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Company Profile: Columbus, Ohio-based Limited Brands operates as a specialty retailer of women's apparel, beauty and personal care products and accessories under various trade names. It operates in two segments: Victoria's Secret and Bath & Body Works.
Limited Brands raised its dividend by a third to 20 cents per share, from 15 cents, marking its 145th consecutive quarterly dividend. The higher payout will be available on March 11 to shareholders of record on Feb. 25, bringing Limited's yield to around 2.5%.
Limited Brands raised its fourth-quarter forecast
after reporting that January same-store sales -- or sales at stores open at least one year, a closely watched metric in the retail business -- soared 24%. Analysts were forecasting a much smaller increase of 6.7%.
The month was driven by Victoria's Secret's semiannual sale, which started one day later, pushing some sales out of December and into January. Victoria's Secret is rarely promotional, which creates pent-up demand, traditionally making its semiannual sale a big sales week.
Limited lifted its fourth-quarter outlook to $1.23 to $1.25 a share, from a previous range of $1.02 to $1.17 a share. For February, the retailer said it expects flat to slightly positive same-store sales.
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