Limited Brands Inc.’s third-quarter profits fell almost two-thirds, the company said Wednesday, but outpaced Wall Street expectations by a penny.
Net income for the Columbus, Ohio-based specialty chain operator declined 65.7 percent to $4.2 million, or 1 cent a diluted share, from $12.1 million, or 3 cents a share, in last year’s quarter. On average, analysts polled by Yahoo Finance expected Limited to break even in the quarter.
Sales in the three months ended Nov. 1 dropped 4.2 percent to $1.84 billion from $1.92 billion a year ago. Comparable-store sales were down 7 percent in the quarter. The company’s gross margin for the period dropped 6 basis points to 31.5 percent of sales.
For the first nine months of fiscal 2008, Limited posted a 38.1 percent drop in profits to $204 million, or 60 cents a share, from $329.4 million, or 85 cents, last year. Sales for the three quarters fell 11.8 percent to $6.05 billion from $6.86 billion a year ago.
The company said it expects fourth-quarter earnings per share of 85 cents to $1 and full-year EPS of $1.20 to $1.35.
Limited, which owns Victoria’s Secret, Bath & Body Works, La Senza, Henri Bendel and several other specialty brands, operates 3,021 retail locations.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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