Limited Brands Previews Strong Earnings

The retailer's financial chief is retiring.
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Limited Brands

(LTD)

previewed second-quarter earnings above Wall Street's expectation, though the retailer gave a soft forecast for the current quarter.

The operator of Victoria's Secret and Bath & Body Works chains, among others, said it expects to report earnings of 28 cents a share when it posts its full results Wednesday. Analysts surveyed by Thomson First Call forecast earnings of 25 cents a share. A year earlier, Limited earned 20 cents a share.

For the third quarter, the company expects results to be flat with the break-even figure it reported a year earlier. Wall Street currently targets earnings of 4 cents a share for the quarter ending in October.

Limited said it sees full-year earnings of $1.55 to $1.65 a share, bracketing analysts' mean estimate of $1.62.

The earnings preview came as Limited announced the retirement of its chief financial officer, Ken Stevens. The company said Stevens is leaving for personal reasons.

Limited named Chief Administrative Officer Martyn Redgrave to the additional role of financial chief, effective immediately.

The company's shares recently were down 44 cents, or 1.6%, to $26.37.