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.
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...
Retailer Limited Brands, operator of the Victoria's Secret, Pink, Bath and La Senza stores, has lifted its full-year earnings guidance after booking a 25.3% jump in third-quarter profit....
Knitted fabric manufacturer Textured Jersey Lanka is gearing up for future growth with a number of new investments to add capacity, reduce energy costs and expand across the region....
US women's wear retailer Ascena Retail Group has appointed Judith Langley as the executive vice president and chief merchandising officer of its Dressbarn brand....
- Why fast fashion isn't a case of one size fits all
- Sir Philip Green blamed for the collapse of BHS
- TPP tariff phase-out guides Vietnam sourcing plans
- Brexit Trade Focus – How a CANZ-UK FTA stacks up
- How Central America garment sourcing measures up
- VF Corp cuts guidance as Q2 profit plunges 70%
- VF confident on "solid" sustainability roadmap
- Ethiopia opens flagship textile and apparel park
- Target hires Apple exec for global sourcing post
- New Tencel fibre based on cotton waste fabrics
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- World Textile and Apparel Trade and Production Trends: the EU - June 2016
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Luxury Goods Retailing in Europe, 2014-2019 ; Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape