Limited, Intimate Brands Beat February Same-Store Sales Forecasts

The Limited(LTD Quote) said Thursday that its same-store sales for February beat Wall Street's estimates, as did those of its 84%-owned Intimate Brands(IBI Quote) unit.

The company, which operates Express, Lerner New York, Layne Bryant and Limited Stores, said same-store sales were flat in the month, compared with a 6% increase in the year-ago month. The company posted a January increase after missing estimates in November and December. Net sales in February increased to $660.6 million from $644.3 million in the same period last year.

Intimate Brands, which operates Victoria's Secret and Bath & Body Works brands, said its same-store sales fell 5%, slightly better than the 5.1% decline forecast by analysts surveyed by First Call/Thomson Financial. The specialty retailer said its net sales were $338.1 million, 2% below the $344.8 million posted in the year-ago period.

In late February, Limited met Wall Street's fourth-quarter expectations despite results sharply below year-ago totals. It also disclosed plans to sell its Lane Bryant division. A day earlier, Intimate Brands met lowered expectations for its fiscal fourth quarter.

Shares of Limited gained 33 cents, or 2%, to $17.18, while Intimate Brands rose 8 cents, or 0.5%, to $15.20 in recent New York Stock Exchange trading.