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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 | |
---|---|---|---|---|---|---|---|---|
-1.91 | -6.13% | 29.25 | 32.09 | 28.019 | 31.16 | 589,818 | 01:00:00 |
Limited Brands Inc. (LTD) raised its earnings guidance for the fiscal fourth quarter as its holiday sales, although not quite what analysts had hoped for, nonetheless kept the quarter's margins and sales above what the company had anticipated.
The parent of Victoria's Secret and Bath & Body Works now expects to post a profit between 92 cents and 97 cents a share in the current quarter, compared with November's guidance for 71 cents to 86 cents.
In November, Limited third-quarter profit more than tripled on a tax gain, but the retailer surprised Wall Street with earnings even after that gain was stripped out. Those strong results and a raised outlook for the year suggested that consumers were becoming less wary of spending on Limited's highly discretionary lingerie and beauty products.
However, the company said Thursday its same-store sales in December declined 2%, more than analysts had anticipated but in line with the company's guidance. Chairman and Chief Executive Les Wexner said Limited was very pleased with the holiday outcome. "We managed inventory and expenses conservatively and focused on execution and speed to maximize sales and margin," he said.
Limited shares closed Wednesday at $19.07 and weren't active premarket.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com
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