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....
- Synergies Worldwide CEO unravels sourcing shifts
- Rana Plaza three years on – Timeline of change
- Bangladesh still needs reforms to fix factories
- First figures show Bangladesh exports climb
- Collaboration key to the future of smart textiles
- Hanesbrands to buy Pacific Brands for $800m
- BHS lacks relevance as it files for administration
- US Q1 in brief: Carter's, Columbia Sportswear, Ske
- Improving traceability a key industry challenge
- Aeropostale delisted from New York Stock Exchange