Limited Lifts Third-Quarter Profit View
NEW YORK (TheStreet) -- Limited (LTD) hiked its third-quarter earnings outlook after it posted an increase in October same-store sales.
Limited now expects to report a third-quarter profit of 15 cents to 17 cents a share, well above its previous guidance of 3 cents to 8 cents a share. Limited said comparable store sales rose 10% year-over-year in the third quarter
Analysts on average have been expecting third-quarter earnings per share of 11 cents a share.
Net sales for the quarter rose to $1.98 billion from $1.78 billion last year, Limited said. Wall Street expected sales of $1.95 billion for the quarter.
The earnings outlook revision came as Limited said comparable store sales climbed 9%. Net sales totaled $617.3 million for the four weeks ended Oct. 30, compared to net sales of $561.1 million last year.
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-- Written by Andrea Tse in New York.
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