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Limited Brands posts double-digit comps growth in Q1
COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the first quarter ended April 30, were 40 cents compared with adjusted earnings per share of 25 cents for the quarter ended May 1. First quarter adjusted net income was $129.8 million compared with adjusted net income of $82.9 million last year, the company reported.
Limited Brands reported that comparable-store sales for the first quarter increased 15%, and net sales were $2.217 billion compared to $1.932 billion last year.
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Target to invest more than planned to enter Canada
New York City -- Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.
The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.
“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.