![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
LandBridge Company LLC | NYSE:LB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.29 | -7.33% | 28.875 | 32.09 | 28.62 | 31.16 | 196,285 | 18:17:11 |
COLUMBUS, Ohio, Aug. 21, 2013 /PRNewswire/ -- Limited Brands, Inc. (now known as L Brands, Inc.) (NYSE: LTD) today reported 2013 second quarter results.
(Logo: http://photos.prnewswire.com/prnh/20020520/CLM001LOGO )
Second Quarter Results
Earnings per share for the second quarter ended Aug. 3, 2013, increased 22% to $0.61 compared to adjusted earnings per share of $0.50 for the quarter ended July 28, 2012. Second quarter operating income was $357.8 million compared to an adjusted $308.9 million last year, and net income was $178.9 million compared to an adjusted $147.2 million last year. Adjusted results exclude one significant item as detailed below:
Including the significant item above, reported 2012 second quarter earnings per share were $0.49; operating income was $305.3 million; and net income was $143.6 million.
The company reported net sales of $2.516 billion for the 13 weeks ended Aug. 3, 2013, an increase of 5 percent compared to sales of $2.399 billion for the 13 weeks ended July 28, 2012. The company reported a comparable store sales increase of 2 percent for the 13 weeks ended Aug. 3, 2013, compared to the 13 weeks ended Aug. 4, 2012.
At the conclusion of this press release is a reconciliation of reported to adjusted results.
2013 Outlook
The company stated that it expects 2013 third quarter earnings per share to be $0.23 to $0.28.
For 2013, the company expects earnings per share of $3.06 to $3.21 versus its previous guidance of $2.95 to $3.15.
Earnings Call Information
Limited Brands will conduct its second quarter earnings call at 9 a.m. Eastern on Thursday, Aug. 22. To listen, call 1-866-583-6618 (international dial-in number: 1-937-200-3978). For an audio replay, call 1-866-NEWS-LTD (international replay number: 1-706-902-3452) or log onto www.Limitedbrands.com. Additional second quarter financial information is also available at www.Limitedbrands.com.
ABOUT LIMITED BRANDS:
Limited Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 2,629 specialty stores in the United States and its brands are sold in more than 700 company-operated and franchised additional locations world-wide. The company's products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
L Brands, Inc. cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or the second quarter earnings call involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as "estimate," "project," "plan," "believe," "expect," "anticipate," "intend," "planned," "potential" and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or the second quarter earnings call:
We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release or the second quarter earnings call to reflect circumstances existing after the date of this report or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in "Item 1A. Risk Factors" in our 2012 Annual Report on Form 10-K.
LIMITED BRANDS, INC. AND SUBSIDIARIES | ||||
CONSOLIDATED STATEMENTS OF INCOME | ||||
THIRTEEN WEEKS ENDED AUGUST 3, 2013 AND JULY 28, 2012 | ||||
(Unaudited) | ||||
(In thousands except per share amounts) | ||||
2013 |
2012 | |||
Net Sales |
$ 2,515,953 |
$ 2,399,095 | ||
Cost of Goods Sold, Buying and Occupancy |
(1,527,328) |
(1,456,621) | ||
Gross Profit |
988,625 |
942,474 | ||
General, Administrative and Store Operating Expenses |
(630,819) |
(637,136) | ||
Operating Income |
357,806 |
305,338 | ||
Interest Expense |
(75,968) |
(79,526) | ||
Other Income |
1,016 |
3,747 | ||
Income Before Income Taxes |
282,854 |
229,559 | ||
Provision for Income Taxes |
103,940 |
85,910 | ||
Net Income |
$ 178,914 |
$ 143,649 | ||
Net Income Per Diluted Share |
$ 0.61 |
$ 0.49 | ||
Weighted Average Shares Outstanding |
295,473 |
296,030 | ||
LIMITED BRANDS, INC. AND SUBSIDIARIES | ||||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||
THIRTEEN WEEKS ENDED AUGUST 3, 2013 AND JULY 28, 2012 | ||||||||
(Unaudited) | ||||||||
(In thousands except per share amounts) | ||||||||
2013 |
2012 | |||||||
Reported |
Reported |
Adjustments |
Adjusted | |||||
Net Sales |
$ 2,515,953 |
$ 2,399,095 |
$ - |
$ 2,399,095 | ||||
Cost of Goods Sold, |
||||||||
Buying & Occupancy |
(1,527,328) |
(1,456,621) |
2,800 |
(1,453,821) | ||||
Gross Profit |
988,625 |
942,474 |
2,800 |
945,274 | ||||
General, Administrative and |
||||||||
Store Operating Expenses |
(630,819) |
(637,136) |
800 |
(636,336) | ||||
Operating Income |
357,806 |
305,338 |
3,600 |
308,938 | ||||
Interest Expense |
(75,968) |
(79,526) |
- |
(79,526) | ||||
Other Income |
1,016 |
3,747 |
- |
3,747 | ||||
Income Before Income Taxes |
282,854 |
229,559 |
3,600 |
233,159 | ||||
Provision for Income Taxes |
103,940 |
85,910 |
- |
85,910 | ||||
Net Income |
$ 178,914 |
$ 143,649 |
$ 3,600 |
$ 147,249 | ||||
Net Income Per Diluted Share |
$ 0.61 |
$ 0.49 |
$ 0.50 | |||||
Weighted Average Shares Outstanding |
295,473 |
296,030 |
296,030 | |||||
See Notes to Consolidated Statements of Income and Reconciliation of Adjusted Results for additional information. | ||||||||
LIMITED BRANDS, INC. AND SUBSIDIARIES | ||||
CONSOLIDATED STATEMENTS OF INCOME | ||||
TWENTY SIX WEEKS ENDED AUGUST 3, 2013 AND JULY 28, 2012 | ||||
(Unaudited) | ||||
(In thousands except per share amounts) | ||||
2013 |
2012 | |||
Net Sales |
$ 4,783,910 |
$ 4,552,879 | ||
Cost of Goods Sold, Buying and Occupancy |
(2,853,873) |
(2,708,442) | ||
Gross Profit |
1,930,037 |
1,844,437 | ||
General, Administrative and Store Operating Expenses |
(1,261,050) |
(1,245,873) | ||
Operating Income |
668,987 |
598,564 | ||
Interest Expense |
(155,341) |
(157,318) | ||
Other Income |
4,005 |
1,438 | ||
Income Before Income Taxes |
517,651 |
442,684 | ||
Provision for Income Taxes |
196,234 |
174,477 | ||
Net Income |
$ 321,417 |
$ 268,207 | ||
Net Income Per Diluted Share |
$ 1.09 |
$ 0.90 | ||
Weighted Average Shares Outstanding |
295,329 |
298,634 | ||
LIMITED BRANDS, INC. AND SUBSIDIARIES | ||||||||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||
TWENTY SIX WEEKS ENDED AUGUST 3, 2013 AND JULY 28, 2012 | ||||||||||||
(Unaudited) | ||||||||||||
(In thousands except per share amounts) | ||||||||||||
2013 |
2012 | |||||||||||
Reported |
Reported |
Adjustments |
Adjusted | |||||||||
Net Sales |
$ 4,783,910 |
$ 4,552,879 |
$ - |
$ 4,552,879 | ||||||||
Cost of Goods Sold, |
||||||||||||
Buying & Occupancy |
(2,853,873) |
(2,708,442) |
2,800 |
(2,705,642) | ||||||||
Gross Profit |
1,930,037 |
1,844,437 |
2,800 |
1,847,237 | ||||||||
General, Administrative and |
||||||||||||
Store Operating Expenses |
(1,261,050) |
(1,245,873) |
800 |
(1,245,073) | ||||||||
Operating Income |
668,987 |
598,564 |
3,600 |
602,164 | ||||||||
Interest Expense |
(155,341) |
(157,318) |
- |
(157,318) | ||||||||
Other Income |
4,005 |
1,438 |
- |
1,438 | ||||||||
Income Before Income Taxes |
517,651 |
442,684 |
3,600 |
446,284 | ||||||||
Provision for Income Taxes |
196,234 |
174,477 |
- |
174,477 | ||||||||
Net Income |
$ 321,417 |
$ 268,207 |
$ 3,600 |
$ 271,807 | ||||||||
Net Income Per Diluted Share |
$ 1.09 |
$ 0.90 |
$ 0.91 | |||||||||
Weighted Average Shares Outstanding |
295,329 |
298,634 |
298,634 | |||||||||
See Notes to Consolidated Statements of Income and Reconciliation of Adjusted Results for additional information. | ||||||||||||
LIMITED BRANDS, INC. AND SUBSIDIARIES |
||||||||||||
The "Adjusted Results" provided in the attached unaudited Consolidated Statements of Income and Reconciliation of Adjusted Results are non-GAAP financial measures and reflect the following:
Fiscal 2013
In both the first and second quarter of 2013, there were no adjustments to results.
Fiscal 2012
In the second quarter of 2012, adjusted results exclude the following:
In the first quarter of 2012, there were no adjustments to results.
The Unaudited Adjusted Consolidated Statements of Income should not be construed as an alternative to the reported results determined in accordance with generally accepted accounting principles. Further, the Company's definition of adjusted income information may differ from similarly titled measures used by other companies. While it is not possible to predict future results, management believes the adjusted information is useful for the assessment of the ongoing operations of the Company. The Unaudited Adjusted Consolidated Statements of Income should be read in conjunction with the Company's historical financial statements and notes thereto contained in the Company's quarterly reports on Form 10-Q and annual report on Form 10-K.
SOURCE Limited Brands, Inc.
Copyright 2013 PR Newswire
1 Year LandBridge Chart |
1 Month LandBridge Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions