US: Limited Brands Q1 earnings fall on revenue decline
- Net income fell 24.5% to $124.6m
- Revenue down 5.2% to $2.15bn
- Comparable store sales increased 7%
Limited Brands saw first quarter net earnings fall on the back of a decline in revenue.
The company, which owns the Victoria's Secret brand, said yesterday (16 May) that net income was down 24.5% to US$124.6m over the quarter ended 30 April. Excluding a series of one-off gains last year, net income declined only 4%.
Revenue fell 5.2% over the quarter to $2.15bn, as comparable store sales increased 7% over the period. The company said first-quarter 2011 sales included $214.0m attributable to its Mast third party apparel sourcing business, which was sold in November 2011.
It is forecasting full-year earnings per share of $2.63-2.83.
Anyone believing that human rights abuses are endemic in offshore production should compare the levels of protection afforded to factory workers in the developing world supplying major Western brands ...
US retailers have yet to weigh up the full impact of Hurricane Sandy, which hit the US East coast earlier this week between the back-to-school spending rush and the all-important shopping fest that li...
The following is a general roundup of US apparel and shoe retailers' October 2012 sales results....
A strong end to the back-to-school shopping season contributed to the solid sales results rung up by many US clothing and footwear retailers in September - but economic and political uncertainty conti...
The following is a general roundup of US apparel and shoe retailers' September 2012 sales results....
Limited Brands Inc, operator of the Victoria's Secret label, has lifted its full-year earnings guidance despite posting a 22.2% fall in third-quarter profit....
Clothing and footwear sales are set to outpace total retail spending in the UK during the Christmas period thanks to their ongoing popularity as gift items....
Opportunities to source textiles, apparel and footwear from Africa are the focus of a special event taking place in Cape Town next year, which brings together producers from more than a dozen sub-Saha...
- New wage ladder lifts workers towards living wages
- New scenarios driving sustainability in textiles
- US retailers to face logistics issues into 2015
- African apparel sector needs cooperation to thrive
- UK fashion sector prospects depend on partnerships
- Bangladesh worker dies as factory boiler ruptures
- Coats launches new services business in Vietnam
- Eight footwear factories lead on social compliance
- Global unions join forces on apparel wage poverty
- US firms eye Vietnam footwear growth ahead of TPP