• Q2 net income fell 32.3% to $321.6m
  • Sales declined to $2.39bn from $2.45bn
  • Comparable store sales increased 8%

Limited Brands, which owns the Victoria's Secret chain, has raised its full-year guidance despite booking a 32.3% fall in second quarter profit.

Over the quarter, net income fell to $321.6m. However, excluding charges relating to La Senza store closures and a series of one-off gains in 2011, net income fell to $147.2m against $150.7m last year.

The company has raised its full-year earnings per share forecast to $2.73-2.88, up on previous guidance of $2.63-2.83.

Comparable store sales increased 8% in the quarter, while sales declined to $2.39bn from $2.45bn last year. However, last year included $216.6m attributable to the Mast third-party apparel sourcing business, which it sold in November 2011.