Limited Brands, Inc. today reported 2013 third quarter results and increased its 2013 full-year earnings guidance.
Third Quarter Results Earnings per share for the third quarter ended Nov. 2, 2013 increased 19% to $0.31 compared to adjusted earnings per share of $0.26 for the third quarter ended Oct. 27, 2012.
Third quarter operating income was $211.0 million compared to adjusted operating income of $197.4 million last year, and net income was $92.0 million compared to adjusted net income of $75.6 million last year. Adjusted results in 2012 exclude certain significant items as detailed below:
-- In 2012 (totaling to a charge of $0.01 per share):
-- A pre-tax charge of $10.4 million, or $0.04 per share, related to La Senza store closures; and
-- A pre-tax gain of $12.7 million, or $0.03 per share, from cash distributions related to the company's Easton investments.
Including the significant items above, reported 2012 third quarter earnings per share were $0.25; operating income was $186.9 million; and net income was $73.4 million.
The company reported net sales of $2.171 billion for the third quarter ended Nov. 2, 2013, an increase of 6 percent compared to net sales of $2.050 billion for the third quarter ended Oct. 27, 2012. The company reported a comparable store sales increase of 3 percent for the 13 weeks ended Nov. 2, 2013, compared to the 13 weeks ended Nov. 3, 2012.
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