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.

Leslie Wexner, chairman and CEO of Limited Brands, stated, "With a disciplined approach to managing our business, we delivered record first quarter results. I am proud of our team's focus on the fundamentals and brand building…we will strive to get even better."

The company stated that it expects 2011 second quarter adjusted earnings per share to be 38 cents to 43 cents compared with adjusted earnings per share of 36 cents per share last year.

For 2011, the company expects adjusted earnings per share of $2.25 to $2.45.