The Limited posts 4Q loss

COLUMBUS, Ohio Limited Brands reported that adjusted earnings per share for the fourth quarter ended Jan. 31 were 68 cents compared to 94 cents for the quarter ended Feb. 2.

The company reported a comparable-store sales decrease of 10% for the fourth quarter ended Jan. 31. Net sales were $2.991 billion compared to net sales of $3.228 billion last year, excluding the previously mentioned $47.8 million in initial gift card breakage.

Adjusted earnings per share for the year ended Jan. 31 were $1.05 compared to $1.21 for the year ended Feb. 2, 2008.

The company reported a comparable-store sales decrease of 9% for the year ended Jan. 31. Net sales were $9.043 billion compared to net sales of $10.086 billion last year, excluding the previously mentioned $47.8 million in initial gift card breakage.

Chairman and CEO Leslie Wexner stated, "In the current environment, we are managing all aspects of the business, including inventory, expenses, capital expenditures, cash and liquidity, very conservatively. We are also working to maximize sales by offering compelling merchandise, marketing and store experiences to our customers."

The company expects 2009 full-year earnings per share to be between 60 cents and 85 cents per share, including a loss of between 7 cents per share and 12 cents per share in the first quarter.