Limited brands

 

Limited Brands had a strong October, reporting sales gains that were more than triple what analysts had expected.
The Columbus-based retailer, known temporarily as L Brands, said yesterday that comparable-store sales rose 8 percent from the year before. Wall Street analysts had predicted that comparable-store sales, a key indicator of a retailer’s health, would rise 2.5 percent.
Sales totaled $680.5 million, up from $611 million for the same month last year.
The retailer “hit a home run, in our estimation,” said Ken Perkins, president of Retail Metrics. Making the company’s report even more impressive was that it came in a challenging retailing environment, he said.
Limited Brands’ lingerie brand, Victoria’s Secret, reported a 10 percent rise in comparable-store sales, crushing analyst expectations of a 2.4 percent rise. The sales increase was fueled by strong sales in lingerie, beauty products and in the chain’s youth-focused brand, Pink.
Bath & Body Works reported a 4 percent rise, topping expectations of a 1.9 percent bump. The sales boom was “driven by the performance of our restaged signature collection, home fragrance and soap and sanitizer business,” said Amie Preston, chief investor relations officer