Limited Brands in Fashion This Afternoon

Retailer Limited Brands (LTD) is up 2.5% today on mixed results after presenting a strong fiscal fourth quarter alongside a weaker-than-expected forecast for the first quarter.

For the period ended Feb. 2, Limited Brands, which oversees retail chains including Bath and Body Works and Victoria�s Secret, reported fiscal fourth quarter profit of $411.4 million, or $1.39 a share, up from $359 million, or $1.17 a share, a year prior. Net sales rose to $3.8 billion in the quarter compared to $3.5 billion a year ago while gross margin rose 130 basis points.

For its fiscal first quarter, Limited Brands projected earnings-per-share of $2.92-$3.12, which came in below estimates made by analysts polled by Thompson Reuters of $3.24, while the company�s earnings-per-share estimate of 40 cents-45 cents came in below analysts� estimates of 51 cents.

The anticipated first quarter woes were not lost on Canaccord Genuity analyst Laura Champine, who maintained the company at Hold but slashed the price target to $42 from $49 in a note today and added, �The company continues to miss the opportunity to monetize the global brand equity of Victoria�s Secret in our view.�

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