Limited Brands reports 7% sales increase

Limited Brands reported net sales of $1.8 billion for the five weeks ending on December 31, 2011, a comparable store increase of 7 percent on the five week period ending on January 1, 2011.

The results came despite the negative impact of the sale of the company’s third party apparel sourcing business at the beginning of November, 2011.

Overall, it saw a 10 percent comparable store sales increase for the 48 weeks ending on December 31, 2011, compared to the previous year, with net sales for the period reaching $9.6 billion.

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The positive results, which exceeded analysts’ expectations, come as Limited Brands looks to break into the UK market with lingerie company Victoria’s Secret. The brand is set to launch in the country later this year.

Limited Brands is also expected to have first option on buying La Senza UK stores, as the company heads into administration, due to a pre-emptive clause. La Senza UK is owned by private equity group Lion Capital, but Limited Brands bought the rest of the business, La Senza Corporation, in 2007.

Limited Brands also operates Bath & Body works and Henri Bendel.
It operates 2,639 specialty stores in the United States and its brands are sold in more than 600 company-operated and franchised additional locations world-wide.

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