Limited Brands April Comparable Store Sales up 6%; Raises Lower End of Previous Q1 Guidance

Limited Brands, Inc. LTD reported a comparable store sales increase of 6 percent for the four weeks ended April 28, 2012, compared to the four weeks ended April 30, 2011. The company reported net sales of $659.0 million for the four weeks ended April 28, 2012, compared to net sales of $683.2 million last year. The company reported a comparable store sales increase of 7 percent for the 13 weeks ended April 28, 2012, compared to the 13 weeks ended April 30, 2011. The company reported net sales of $2.154 billion for the 13 weeks ended April 28, 2012, compared to sales of $2.217 billion last year. April 2011 and 2011 year-to-date sales included $59.2 million and $214.0 million attributable to the third party apparel sourcing business, which was sold in November 2011. The company expects to report first quarter earnings per share of $0.38 to $0.40 cents per share. Versus its previous guidance of $0.35 to $0.40 per share, first quarter results were negatively impacted by $0.04 to $0.05 per share due to costs related to severance and a higher tax rate.