Limited beats its own forecast
Times Wire Reports
Cutting costs helped Limited Brands beat its own profit expectations for the third quarter.
The owner of Victoria’s Secret and Bath & Body Works reported that it earned $14.9 million, or 5 cents a share, compared with $4.2 million, or a penny a share, a year earlier.
Excluding a tax benefit, profit totaled 2 cents a share. The company had forecast that it would break even or lose up to 4 cents a share. Revenue fell 4% to $1.78 billion.
For the year, the Columbus, Ohio, company expects adjusted earnings of 93 cents to $1.08 a share, up from 75 to 90 cents.
