US: Limited Brands lifts FY target as Q3 beats view
- Q3 profit down 22.2% to $73.4m
- Sales slipped 5.6% to $2.05bn
- Company expects FY EPS of $2.78-$2.93
Net income declined 22% to US$73.4m during the 13 weeks ended 27 October, compared to $94.3m the same period last year. However, excluding costs related to the La Senza store closures and pre-tax gains, net income slipped 2.5% to $75.6m.
Operating income edged up 0.4% to $186.9m.
Net sales slipped 5.6% to $2.05bn from $2.17bn, while comparable store sales increased 5%. Last year's quarter included $258.7m worth of sales attributed to the Mast third party apparel sourcing business it sold in November 2011.
Limited Brands now expects full-year earnings per share to range from $2.78 to $2.93, up from previous guidance of between $2.73 and 2.88.
America's Save Our Industries Act, also known as the SAVE Act, which would give a range of Philippines-made apparel duty-free access to the US, looks increasingly likely to be implemented. And the Fil...
Hong Kong listed Luen Thai Holdings, one of the world's leading apparel manufacturing and supply chain services providers, has completed its US$55m acquisition of Singapore-based Ocean Sky Group....
Apparel group L Brands (the new, temporary name for Limited Brands) has hired former Aurora Fashions executive Ishan Patel to oversee Victoria's Secret digital business....
Marks & Spencer director of lingerie, Janie Schaffer, has left the retailer after only a few months in the role. ...
- Sustainable fibres, finishes and processes at ITMA
- Esquel CEO says automation core to competitiveness
- Freeing up working capital in the supply chain
- Five ways to tackle market and demand volatility
- ‘Fixing Fashion’ one stitch at a time
- Uniqlo under fire again for China worker abuses
- German sustainable textile scheme heads to Vietnam
- VF Corp and Kohl's join White House climate pledge
- US Q3 in brief: Shoe Carnival, Caleres
- Adidas develops high-tech swimwear range
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Trade and Trade Policy: The World’s Leading Clothing Exporters and Key Markets 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory