Limited Gets Boost From ADS Sale

Share this article:
First quarter net income at Limited Brands was $97.5 million, nearly double the $49.9 million in net income for the same period last year.


However, the company got a boost from the sale of about half its interest in Alliance Data Systems Corp., a provider of marketing and credit services and several other adjustments. Without that gain, and with several other adjustments, net income was $49.8 million compared to $76.9 million a year ago.


Comparable store sales in the quarter ended May 3 were down 1 percent while net sales of $1.84 billion increased 2 percent.


The company's brands include Victoria's Secret, Bath & Body Works, Express, Express Men's, Limited Stores, White Barn Candle Co. and Henri Bendel.


Also yesterday, Nordstrom Inc., Seattle, posted net earnings of $27.2 million in the first quarter of 2003 that ended May 3. During the same period last year, the net loss amounted to $24.6 million. Net sales for the first quarter of 2003 increased 3.5 percent to $1.3 billion compared to sales of $1.2 billion in the same period last year. First quarter 2003 same-store sales fell 1.4 percent.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Hub aims to help CMOs deliver on ROI goals by extending customer lifecycles.