Retail in Asia

In Shops

Limited Brands 1Q profit beats, shares fall on view

Limited Brands Inc, parent of the Victoria’s Secret lingerie store chain, posted a quarterly profit that topped Wall Street’s view but its shares fell 3.5 percent after its forecast for the current quarter fell short of analysts’ expectations.

The company, which also operates the Bath & Body Works and La Senza chains as well as luxury retailer Henri Bendel, on Wednesday reported first-quarter net profit of USD124.6 million, or USD41 cents per share.

Net sales slipped to USD2.15 billion from USD2.22b in the first quarter a year ago, which included USD214m in sales from the company’s third-party apparel sourcing business that was sold in November.

(Source: CNBC)