Limited (LTD) Reports 33% Jump in Q2 EPS, Raises FY11 Guidance
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Price: $65.09 -0.57%
Financial Fact:
Dividends Per Share: 0.6
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Dividends Per Share: 0.6
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of Limited Brands (NYSE: LTD) are up nearly 3 percent in post-market trade Wednesday as traders are cheering second-quarter results from the retailer.
Limited issued quarterly revenue of $2.46 billion, up 9.6 percent from the $2.24 billion reported during the same quarter last year. Same-store sales rose 9 percent during the quarter ended July 30, 2011.
The retailer saw net income rise nearly 30 percent from $178 million in the year-ago quarter to $231 million. EPS totaled 73 cents, up 36 percent compared to the 54 cents posted last year. Pro-forma net income came in at $150.72 million, or about 48 cents on a per-share basis. The adjusted number represents a 33 percent increase from EPS of 36 cents in the second quarter of 2010.
The Street had been expecting third-quarter sales of $2.44 billion and earnings of 46 cents.
Chairman and CEO Leslie Wexner said, "We're pleased with our second quarter performance. Our focus on managing inventory and expenses conservatively and staying agile yielded more full-priced selling and record results. As we enter the fall season, we will remain focused on our customers, and we see opportunity to continue to do better."
Limited expects to report third-quarter earnings of 17 to 22 cents per share, at the low end of an analyst consensus of 22 cents. Looking ahead to the end of its fiscal 2011, the retailer sees EPS of $2.35 to $2.50, up from prior guidance of $2.25 to $2.45. The Street is currently expecting for FY11 EPS of $2.46.
Limited issued quarterly revenue of $2.46 billion, up 9.6 percent from the $2.24 billion reported during the same quarter last year. Same-store sales rose 9 percent during the quarter ended July 30, 2011.
The retailer saw net income rise nearly 30 percent from $178 million in the year-ago quarter to $231 million. EPS totaled 73 cents, up 36 percent compared to the 54 cents posted last year. Pro-forma net income came in at $150.72 million, or about 48 cents on a per-share basis. The adjusted number represents a 33 percent increase from EPS of 36 cents in the second quarter of 2010.
The Street had been expecting third-quarter sales of $2.44 billion and earnings of 46 cents.
Chairman and CEO Leslie Wexner said, "We're pleased with our second quarter performance. Our focus on managing inventory and expenses conservatively and staying agile yielded more full-priced selling and record results. As we enter the fall season, we will remain focused on our customers, and we see opportunity to continue to do better."
Limited expects to report third-quarter earnings of 17 to 22 cents per share, at the low end of an analyst consensus of 22 cents. Looking ahead to the end of its fiscal 2011, the retailer sees EPS of $2.35 to $2.50, up from prior guidance of $2.25 to $2.45. The Street is currently expecting for FY11 EPS of $2.46.
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