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Limited Profits Up 14.5% in Fourth Quarter

Victoria’s Secret parent 2013 projections fall short of Wall Street’s expectations.

Limited Brands

Limited Brands Inc. nudged past profit expectations for the fourth quarter, but projected earnings for this year that lagged Wall Street’s expectations.

The company, which operates Victoria’s Secret and Bath & Body Works, posted a 14.5 percent rise in net income to $411.4 million, or $1.39 a diluted share, from $359.4 million, or $1.17, a year earlier. Adjusted earnings tallied $1.76 a share and were 2 cents ahead of analysts’ consensus projection. Sales for the 14 weeks ended Feb. 2 rose 9.7 percent to $3.86 billion from $3.52 billion.

 

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For the full year, Limited’s net earnings fell 11.4 percent to $753 million, or 2.54 a diluted share, from $850.1 million, or $2.70, in 2011. Sales advanced 0.9 percent to $10.46 billion from $10.36 billion.

Limited anticipates earnings per share of $2.92 to $3.12 this year — below the $3.24 analysts had penciled in.

Following the afternoon report today, shares of the company dipped 0.5 percent to $44.26 in after hours trading.

The company expand on its results in a conference call Thursday morning.