Limited Brands Inc. on Wednesday posted a significant decline in second-quarter profits, due to an increasingly unfriendly economic landscape, but the firm still raised its yearly guidance.
The Columbus, Ohio-based parent of Victoria’s Secret, La Senza, Henri Bendel and Bath & Body Works said income fell by 61.4 percent to $102 million for the three months ended Aug. 2, or 30 cents a diluted share, from $264.4 million, or 67 cents, in the same period a year ago. Sales for the quarter fell 12.9 percent to $2.28 billion from $2.62 billion, while comparable-store sales fell 7 percent.
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