Limited Brands Q2 profit slips, but beats forecast

Columbus, Ohio Limited Brands said Wednesday that its second-quarter profit fell 27% as sales slipped, but cost-cutting helped it earn more than Wall Street expected. The specialty retailer boosted its yearly outlook.

Profit for the three months that ended Aug. 1 fell to $74.3 million, from $102 million, or 30 cents per share a year earlier.