Limited Brands Inc. posted third-quarter results after the markets closed Wednesday, and raised its forecast for adjusted earnings per share for fiscal 2012.
For the three months ended Oct. 27, net income fell by 22.2 percent to $73.4 million, or 25 cents a diluted share, from $94.3 million, or 31 cents, last year. On an adjusted basis, excluding in part charges in the current period for La Senza store closures and earnings attributable to a sourcing business that was sold a year ago, net income dipped 2.5 percent to $75.6 million, or 26 cents a diluted share, from $77.6 million, or 25 cents, last year.
Net sales in the quarter declined 5.7 percent to $2.05 billion from $2.71 billion. The company said comparable-store sales rose 5 percent in the quarter.
The company expects fourth-quarter EPS to be between $1.62 to $1.77 a share. It also raised its adjusted EPS forecast for fiscal 2012 to between $2.78 to $2.93. That’s the second time the company raised fiscal 2012 guidance. On Aug. 15, when the company posted second-quarter results, it projected full-year EPS at between $2.73 to $2.88, up from its previous forecast of $2.63 to $2.83 on May 16, when the firm posted first-quarter results.
Limited Brands operates 2,626 specialty stores under the nameplates Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast