US: Limited Brands lifts outlook on Q1 profit
- Q1 profit increased 14.4% to $142.5m
- Sales rose 5% to $2.27bn
- Company expects FY adjusted EPS of $2.95-3.15
Retailer Limited Brands (now operating under a new temporary name L Brands) has lifted its full-year earnings guidance after posting a 14.4% increase in first-quarter net profit.
The company, owner of lingerie brands Victoria's Secret and La Senza, said net income reached US$142.5m for the 13 weeks to 4 May, compared to $124.6m in the same period last year.
Sales rose 5% to $2.27bn from $2.15bn in the prior year, while comparable store sales were up 3%. Gross margin, however, slipped to 41.5% against 41.9% last time.
Looking forward, the group expects full-year adjusted earnings per share to be $2.95-3.15, compared to its earlier guidance of $2.92-3.12. For the second-quarter, earnings per share are expected to be $0.50-0.55 against $0.50 last year.
Limited Brands’s flagship apparel brand Victoria’s Secret operates primarily in the US, with more than 1,000 domestic outlets. Whilst a number of stores are expected to be closed, at least 20 new stor...
Overall, value sales of underwear, nightwear and swimwear increased by 3% in current value terms in 2012, to reach US$23.6 billion, whilst volume sales increased by only 2%. A similar trend was observ...
The launch of Victoria’s Secret in London’s Westfield and New Bond Street locations positively impacted underwear, nightwear and swimwear. Considering recessionary cuts on spending, underwear and nigh...
Valued at US$87.0bn, the Middle East and African apparel market accounted for just 5% of total global apparel value sales in 2012. Nonetheless, it was the second fastest growing region globally in 201...
- Slow fashion: a fast-growing opportunity?
- Rethink needed as low-cost labour options dwindle
- China's apparel sector ponders sustainability
- US textile and apparel trade and sourcing snapshot
- African apparel sector needs cooperation to thrive
- Tazreen Fashions compensation agreement outlined
- Puma commits to 100% PFC removal
- Gap unveils management changes as Q3 profit rises
- Long-term partnerships key to Adidas sourcing mode
- Long-running SL Garment dispute settled