EPS surges 19% at Limited Brands in Q3

21 Nov '13

2 min read

Limited Brands, Inc. (now known as L Brands, Inc.) reported 2013 third quarter results and increased its 2013 full-year earnings guidance.

The company reported net sales of $2.171 billion for the third quarter ended Nov. 2, 2013, an increase of 6 percent compared to net sales of $2.050 billion for the third quarter ended Oct. 27, 2012.

The company reported a comparable store sales increase of 3 percent for the 13 weeks ended Nov. 2, 2013, compared to the 13 weeks ended Nov. 3, 2012.

Earnings per share for the third quarter ended Nov. 2, 2013 increased 19% to $0.31 compared to adjusted earnings per share of $0.26 for the third quarter ended Oct. 27, 2012.

Third quarter operating income was $211.0 million compared to adjusted operating income of $197.4 million last year, and net income was $92.0 million compared to adjusted net income of $75.6 million last year.

Adjusted results in 2012 exclude certain significant items as detailed below:

- In 2012 (totaling to a charge of $0.01 per share)

- A pre-tax charge of $10.4 million, or $0.04 per share, related to La Senza store closures; and

- A pre-tax gain of $12.7 million, or $0.03 per share, from cash distributions related to the company's Easton investments.

Including the significant items above, reported 2012 third quarter earnings per share were $0.25; operating income was $186.9 million; and net income was $73.4 million.

Limited Brands

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