This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Limited Brands, Inc. - Pre Recorded Sales/ Trading Statement Call

Stocks in this article: LTD

Limited Brands, Inc. (LTD)

May 03, 2012 12:00 am ET

Executives

Amie Preston -

Presentation

Amie Preston

Good morning, everyone. This is Amie Preston, Chief Investor Relations Officer, and this is Limited Brands April sales report for the 4-week period ending April 28, 2012. As a matter formality, I need to remind you that any forward-looking statements I may make today are subject to the Safe Harbor statement found on our SEC filings.

Total Limited Brands sales for the 4 weeks ended April 28, 2012, were $659 million versus sales of $683.2 million for the 4 weeks ended April 30, 2011. April 2011 sales included $59.2 million that was attributable to the third-party apparel sourcing business, which was sold in November 2011. Limited Brands April comps were up 6% against a 20% increase last year.

The April merchandise margin rate was up significantly to last year. As a reminder, our total company merchandise margin rate is positively impacted by the sale of the third-party apparel sourcing business. Absent this impact, our merchandise margin rate would have been down to last year in April.

Inventories ended the month up 9% per square foot at cost, as we accelerated receipts to chase into sales at Victoria's Secret and Bath & Body Works.

First quarter sales were $2.154 billion compared to $2.217 billion last year. First quarter 2011 sales included $214 million attributable to the third-party apparel sourcing business. First quarter comps increased 7% against a 15% increase last year.

We expect to report first quarter earnings per share of $0.38 to $0.40. Versus our previous guidance of $0.35 to $0.40, our first quarter results were negatively impacted by $0.04 to $0.05 per share due to costs related to severance and a higher tax rate.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs