Positive earnings should allow the stock price to bounce back up
(RTTNews.com) - Limited Brands, Inc. ( LTD ) reported net income for the second quarter of $178.9 million or $0.61 per share, compared to $143.6 million or $0.49 per share in the year-ago quarter.
Net sales for the latest second quarter rose 5% to $2.52 billion from $2.40 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to earn $0.60 per share on revenue of $2.51 billion for the second quarter. Analysts' estimates typically exclude special items.
Looking ahead to the third quarter, the company expects earnings per share to be in the range of $0.23 to $0.28. Analysts currently expect the company to earn $0.29 per share for the third quarter.
For fiscal 2013, the company expects earnings per share of $3.06 and $3.21, up from its previous range of $2.95 to $3.15 per share. Analysts currently expect the company to earn $3.21 per share for the full year 2013.
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.