• Q3 earnings surged to $61.3m or $0.18 per share
  • Net sales rose 11.6% to $1.983bn
  • Same-store sales increased 10%

Retailer Limited Brands Inc, operator of the Victoria's Secret, Pink and La Senza chains, has raised its full-year earnings forecast after reporting strong third-quarter results.

Earnings for the three months to 30 October surged to $61.3m or $0.18 per share, compared to $14.9m or $0.05 per share last year (excluding a tax benefit).

Net sales rose 11.6% to $1.983bn compared to $1.777bn last year. Comparable store sales for the quarter increased 10%.

"The significant increase in our year-to-date earnings and the continued disciplined management of inventory, capital spending and our capital structure have resulted in a very strong cash and liquidity position," noted Leslie H Wexner, chairman and CEO. "We are confident in our ability to deliver substantial growth in our business."

Limited Brands expects its fourth-quarter earnings to be between $1.02 and $1.17 per share. It has also raised its full-year earnings forecast to $1.82 to $1.97 per share, from $1.68 to $1.83 per share previously.