Limited Brands sees earnings, comps growth in Q3

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the third quarter ended Oct. 29 increased 39% to 25 cents compared with earnings per share of 18 cents for the quarter ended Oct. 30, 2010, which exclude an income tax benefit in 2011 of $16.7 million, or 6 cents per share. Third quarter operating income was $186.1 million compared with operating income of $149.1 million last year, and adjusted net income was $77.6 million compared to net income of $61.3 million last year.

Comparable-store sales for the third quarter increased 9%, and net sales were $2.173 billion compared with $1.983 billion last year.

Limited Brands stated that it expects adjusted fourth quarter earnings of $1.28 to $1.43 per share. For 2011, the company increased its adjusted earnings per share forecast to $2.38 to $2.53 from $2.35 to $2.50 previously.