Limited (LTD) Earnings Top Q1 Views; Guidance Leaves Investors Wondering
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Quarterly results from Limited Brands, Inc. (NYSE: LTD) has investors selling the stock Thursday despite a beat from the Columbus, OH-based retailer as guidance may have come in lighter than expected.
Net income rose 46.8 percent from $112.5 million to $165.17 million, or $0.50 per share. Excluding income tax benefits, non-cash expenses, and a stock sale, and EPS was a more modest $0.40.
Revenue increased 14.8 percent from $1.93 billion to $2.22 billion. Comparable-store sales for the first quarter increased 15 percent.
Analysts on the Street had been looking for EPS of $0.39 and revs of $2.22 billion.
Looking ahead, Limited sees second-quarter adjusted earnings of $0.38 to $0.43 per share, toward the lower-end when compared with consensus of $0.43. Limited also increased its full-year 2011 earnings estimate from a range of $2.15 - $2.35 to $2.25 - $2.45, which is still mostly to deep end of the $2.44 per share consensus.
Limited shares are down about 4.2 percent in mid-day trade.
Net income rose 46.8 percent from $112.5 million to $165.17 million, or $0.50 per share. Excluding income tax benefits, non-cash expenses, and a stock sale, and EPS was a more modest $0.40.
Revenue increased 14.8 percent from $1.93 billion to $2.22 billion. Comparable-store sales for the first quarter increased 15 percent.
Analysts on the Street had been looking for EPS of $0.39 and revs of $2.22 billion.
Looking ahead, Limited sees second-quarter adjusted earnings of $0.38 to $0.43 per share, toward the lower-end when compared with consensus of $0.43. Limited also increased its full-year 2011 earnings estimate from a range of $2.15 - $2.35 to $2.25 - $2.45, which is still mostly to deep end of the $2.44 per share consensus.
Limited shares are down about 4.2 percent in mid-day trade.
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