US: Limited Brands lifts FY view despite Q2 profit fall
- Q2 net income fell 32.3% to $321.6m
- Sales declined to $2.39bn from $2.45bn
- Comparable store sales increased 8%
Over the quarter, net income fell to $321.6m. However, excluding charges relating to La Senza store closures and a series of one-off gains in 2011, net income fell to $147.2m against $150.7m last year.
The company has raised its full-year earnings per share forecast to $2.73-2.88, up on previous guidance of $2.63-2.83.
Comparable store sales increased 8% in the quarter, while sales declined to $2.39bn from $2.45bn last year. However, last year included $216.6m attributable to the Mast third-party apparel sourcing business, which it sold in November 2011.
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