Women's products retailer Limited Brands, Inc. ( LTD ) late Wednesday said its second quarter profit surged 30% from last year, beating analyst expectations, although its third quarter results could miss Wall Street's view.
The Columbus, OH-based company reported second quarter net income $231 million, or 73 cents per share, compared with $178 million, or 54 cents per share, in the year-ago period. Excluding items, adjusted profit was 48 cents per share.
Revenue rose 10% from last year to $2.46 billion.
On average, Wall Street analysts expected a smaller profit of 45 cents per share on lower sales of $2.44 billion.
Looking ahead, the company forecast third quarter earnings would range from 17 cents to 22 cents per share, while analysts are looking for 22 cents for the quarter.
Limited Brands shares were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of Limited Brands ( LTD ) have a 2.33% dividend yield, based on last night's closing stock price of $34.34. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.
Limited Brands, Inc. ( LTD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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