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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.
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.