UPDATE: Limited Raises Low-End of 1Q Outlook, Names New Operating Chief

(Updates with chief operating officer appointment, breakdown of same store sales)

Limited Brands Inc. (LTD) lifted the low-end of its first-quarter earnings guidance as the retailer also named a new chief operating officer.

Limited--the parent of Victoria's Secret and Bath & Body Works--commands a dominant position in the intimate-apparel and beauty and personal-care segments, which has helped it post surging same-store sales and improved margins.

The retailer raised the low-end of its first-quarter guidance by 3 cents and now expects a first-quarter profit between 38 cents to 40 cents a share.

The company also said its new operating chief, Charlie McGuigan, will retain his current responsibilities as chief executive of Mast Global, Limited's sourcing and production arm. McGuigan joined the company in 2004 as senior vice president in its technology services division.

Limited also disclosed its chief administrative officer, Martyn Redgrave, will transition to the role of senior advisor later this summer.

On Thursday, Limited reported its same-store sales increased 6% in April, above the 4% increase projected by analysts polled by Thomson Reuters.

April same-store sales were up 8% at Victoria's Secret stores, above analysts' estimated 5.3%, and up 4% for Bath & Body Works, above analysts' estimated 2.6%. La Senza saw a 5% decrease in same-store sales last month, while analysts expected a 0.5% decline.

Shares slid by 43 cents to $50 in recent premarket trading. The stock is up 25% so far this year.

-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; [e-mail]