Home / Knowledge / News / Apparel/Garments / Limited Brands Chief pleased with Q2 performance
Limited Brands Chief pleased with Q2 performance
Aug '11
Limited Brands Inc reported 2011 second quarter results.

Leslie H. Wexner, chairman and chief executive officer of Limited Brands, stated, "We're pleased with our second quarter performance. Our focus on managing inventory and expenses conservatively and staying agile yielded more full-priced selling and record results. As we enter the fall season, we will remain focused on our customers, and we see opportunity to continue to do better."

Second Quarter Results
Adjusted earnings per share for the second quarter ended July 30, 2011, were $0.48 compared to $0.36 for the quarter ended July 31, 2010, which exclude certain significant items in both years as detailed below. Second quarter adjusted operating income was $307.0 million compared to operating income of $236.5 million last year, and adjusted net income was $150.7 million compared to $120.6 million last year.

Including the 2011 and 2010 significant items detailed below, reported second quarter earnings per share were $0.73 compared to $0.54 last year, operating income was $193.5 million compared to $236.5 million last year, and net income was $231.2 million compared to $178.7 million last year.

Significant items are as follows:

In 2011 (totaling to a benefit of $0.25 per share):

• A non-taxable gain of $147.1 million, or $0.47 per share, and a pre-tax expense of $113.4 million, or $0.22 per share, related to the charitable contribution of all of the company's remaining shares of Express to the Limited Brands Foundation.

In 2010 (totaling to a benefit of $0.18 per share):

• A pre-tax gain of $52.3 million, or $0.10 per share, related to the sale of a portion of the company's shares of Express in its initial public offering;
• A pre-tax gain of $19.7 million and a related net tax benefit of $22.4 million, or $0.13 per share in total, related to the sale of the company's remaining interest in Limited Stores; and
• A pre-tax loss of $25.2 million, or $0.05 per share, associated with the early retirement of portions of the company's 2012 and 2014 maturity bonds.

The company reported a comparable store sales increase of 9 percent for the second quarter ended July 30, 2011, compared to the second quarter ended July 31, 2010. The company reported net sales of $2.458 billion for the second quarter ended July 30, 2011, compared to sales of $2.243 billion last year.

2011 Outlook
The company stated that it expects 2011 third quarter earnings per share to be $0.17 to $0.22 compared to record earnings per share of $0.18 per share last year. The company now expects August comparable store sales to increase in the high single digit range versus its previous guidance for a low single digit increase.

For 2011, the company increased its adjusted earnings per share forecast to $2.35 to $2.50 from $2.25 to $2.45 previously.

Limited Brands, through Victoria's Secret, Pink,Bath & Body Works, La Senza, C.O. Bigelow, White Barn Candle Co. and Henri Bendel, is an international company. The company operates 2,626 specialty stores in the United States and its brands are sold in more than 800 company-operated and franchised additional locations world-wide.

Limited Brands Inc

Must ReadView All

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

TEA urges Tamil Nadu govt to announce textile policy

The Tiruppur Exporters' Association (TEA) has urged the state...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search