Limited Brands (LTD) Raises Q3, FY09 Outlook; Updates October Comps Guidance
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Limited Brands, Inc. (NYSE: LTD) today raised its outlook for Q3 earnings and 2009 free cash flow, and updated its guidance for October comparable store sales. The company is making this updated information available in advance of its previously announced Investor Update Meeting on Oct. 27.
Raises its Q3 guidance from a loss of $0.07-$0.12 to breakeven to a loss of $0.04. The Street is currently looking for Q3 loss of $0. Free cash flow for FY09, defined as cash flow from operations less capital expenditures, is expected to be $500-$600 million, versus its previous estimate of $350-$450 million. Same store sales for October are expected to be negative low-to-mid single digits, versus its previous estimate of roughly flat.
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