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Limited Swings to $12M Loss

COLUMBUS, OH-It was another quarter of disappointing sales, which pushed the company into the red.

By Jennifer D. Duell | Updated on November 18, 2005

COLUMBUS, OH-Limited Brands, which operates Victoria’sSecret and Bath & Body Works among others, posted anet loss of $12.3 million for the third quartercompared to profit of $49.7 million for the sameperiod last year. Same-store sales for allconcepts decreased 3% and net sales of $1.892 billionwere flat compared to sales of $1.891 billion lastyear.

Analysts surveyed by Thomson Financial expected a lossof 3 cents per share on sales of $1.9 billion. InAugust, the company said it expected third-quarterresults ranging from a loss of one cent to a profit ofone cent per share.

During the third quarter, the company lost three centsper share for the third quarter compared to earningsof 16 cents per share last year. Last year’s resultswere boosted by a gain of 6 cents per share relatedto the New York & Co. initial public offering and a3 cent per share tax benefit. On an adjustedbasis, the company lost 3 cents per share for thethird quarter compared to earnings of 10 cents pershare last year.

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