Limited Brands reports 2Q EPS decline

COLUMBUS, Ohio Limited Brands reported that earnings per share for the second quarter ended Aug. 2, were 30 cents compared to 67 cents last year. Second quarter operating income was $185.2 million compared to $318.9 million last year, and net income was $102 million compared to $264.4 million last year.

Comparable-store sales for the second quarter decreased 7% and net sales were $2.28 billion compared to $2.62 billion last year.

The company stated that it expects 2008 third quarter earnings per share to be 0 cents to 4 cents compared to a loss of 1 cent per share last year, which excludes a 4 cents per share gain from asset sales in 2007.

For 2008, the company expects earnings per share of $1.45 to $1.60, excluding first half significant items of 20 cents per share.