Limited Brands 4Q earnings up 49%

COLUMBUS, Ohio Limited Brands reported that adjusted earnings per share for the fourth quarter ended Jan. 30 increased 49% to $1.01 compared with 68 cents for the quarter ended Jan. 31, 2009. Fourth quarter adjusted operating income was $585.5 million compared with $390.7 million last year, and adjusted net income was $332.8 million compared to $218.9 million last year.

The company reported a comparable-store sales increase of 1% for the fourth quarter. Net sales were $3.063 billion compared to net sales of $2.991 billion last year.

Chairman and CEO Leslie Wexner stated, "The economic environment in 2009 was very challenging.  We managed inventory, expenses and capital conservatively.  We focused on executing with flexibility and speed, and those disciplines helped us achieve better results in the fourth quarter.  We made good progress, but we recognize there is more to do and are very focused on continued improvement."

The company expects 2010 full-year earnings per share to be between $1.40 and $1.60 per share, including earnings per share between 5 cents per share and 10 cents per share in the first quarter.