Limited Brands (LTD) Falls On Lower October Same Store Sales Guidance
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Limited Brands, Inc. (NYSE: LTD) updated its guidance for October comparable store sales and its outlook for third-quarter earnings. Limited is making the announcement ahead of the Investor Update Meeting scheduled for tomorrow.
The new third-quarter guidance for the operator of Bath & Body works and Victoria's Secret has gone from negative $0.07-$0.12 to breakeven to a loss of $0.04. The consensus is a loss of $0.05.
Free cash flow for the full year 2009, defined as cash flow from operations less capital expenditures, is expected to be between $500 and $600 million, versus its previous estimate of $350 to $450 million.
Disappointing investors was guidance on same-store sales for October. The company said sales for the month are expected to be in the negative low-to-mid single digits, compared to the company's previous estimate of roughly flat.
News of the drop in same store sales has caused a drop for Limited in after-market trading, which is currently at $17.88, down 8.31 percent.
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GuidanceRetail Sales
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