Victoria's Secret operator Limited Brands has raised its outlook for third quarter earnings and 2009 free cash flow.

The company now expects third quarter earnings per share between $0.00 and a loss of $0.04, versus its previous estimate of a loss of $0.07 to $0.12.

Free cash flow for the full year 2009, defined as cash flow from operations less capital expenditures, is expected to be between $500 and $600m, versus its previous estimate of $350 to $450m, the company said.

In addition, Limited's October comparable store sales are expected to be in the negative low-to-mid single digits, versus its previous estimate of roughly flat.