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Limited Brands Rises After August Sales Top Analysts’ Estimates

Limited Brands Inc. rose the most in almost seven months after posting August sales that topped analysts’ estimates, led by its Victoria’s Secret lingerie brand.
By
  • Bloomberg

NEW YORK, United States — Limited Brands Inc. rose the most in almost seven months after posting August sales that topped analysts' estimates, led by its Victoria's Secret lingerie brand.

Comparable-store sales rose 6 percent, the Columbus, Ohio- based company said Thursday in a statement. Analysts estimated 2.3 percent, according to Retail Metrics. Same-store sales at Victoria’s Secret also climbed 6 percent, beating the 2.3 percent average projection.

Limited Brands is working to sustain sales growth in its Victoria’s Secret and Bath & Body Works brands by bringing new merchandise into stores faster and improving customer service. Victoria’s Secret benefited from strong back-to-school demand for Pink brand products, even as the later Labor Day holiday shifted some sales into September, the company said on a conference call today.

The shares advanced as much as 5.6 percent to $90.55 in New York, the biggest intraday gain since Feb. 5. Limited Brands was little changed this year through Wednesday.

Genesco Inc., owner of the Lids baseball-cap stores, also rose Thursday after posting better-than-estimated results. Second-quarter profit was 36 cents a share, excluding some items, the Nashville, Tennessee-based company said in a statement. Analysts projected 25 cents. The shares climbed as much as 12 percent to $65.78, the biggest intraday gain since June 2011.

By: Lindsey Rupp; editors: Nick Turner and Kevin Orland.

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