Victoria's Secret helps drive up Limited's 2Q profit

COLUMBUS, Ohio — Limited Brands reported Wednesday that net income for the second quarter rose a better-than-expected 29% to $231.2 million, compared with $178.7 million in the year-ago period.

It cited strong full-price sales at Victoria’s Secret and Bath and Body Works for the strong showing.

Revenue rose 10% to $2.46 billion, matching Wall Street expectations. Same-store sales rose 9%.

"Our focus on managing inventory and expenses conservatively and staying agile yielded more full-priced selling and record results," Leslie H. Wexner, Limited's chairman and CEO, said in a statement. "As we enter the fall season, we will remain focused on our customers, and we see opportunity to continue to do better."