Limited Brands improves Q3 profit on reduced expense

Columbus, Ohio Limited Brands said late Wednesday its third-quarter profit rose above its own forecast, helped by cost cuts and a tax gain.

The operator of Victoria’s Secret, Bath and Body Works and other chains said its profit rose to $14.9 million, compared with $4.2 million a year earlier.

Expenses fell 7%. Like many other retailers, it has focused on cutting costs to offset weak sales during the recession.

Revenue fell 4% to $1.78 billion, from $1.84 billion last year. Analysts expected revenue of $1.77 billion.

Same-store sales fell 2%.