Limited Brands Ups Outlook

Limited Brands ups its full-year outlook after beating second-quarter estimates.
Author:
Publish date:

NEW YORK (

TheStreet

) --

Limited Brands

(LTD)

reported second-quarter earnings that topped Wall Street's forecast.

During the quarter, the owner of Victoria's Secret and Bath & Body Works chains, earned $178.7 million, or 54 cents a share, compared with $74 million, or 23 cents, in the year-ago period.

On an adjusted basis, Limited Brands actually earned 36 cents a share, two-cents higher than analysts' estimates.

Limited sales grew 8.5% to $2.24 billion from $2.24 billion last year, while same-store sales rose 7%.

Looking ahead, Limited expects third-quarter earnings in the range of 3 cents to 8 cents a share, and same-store sales to grow in the mid-to-high single-digits. This compares with prior sales guidance of a low single-digit increase for Limited Brands.

For the full year, Limited predicts earnings between $1.68 to $1.83 a share, from prior guidance of $1.60 to $1.80.

-- Reported by Jeanine Poggi in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.