Limited, Intimate Brands Report Losses

Share this article:
The Limited Inc. and its Intimate Brands Inc. unit reported fiscal third-quarter losses yesterday.


Columbus, OH-based The Limited posted an $11.8 million adjusted net loss for the three months ended Nov. 3, compared with income of $49.2 million last year. Net sales fell to $1.906 billion from $2.168 billion, while sales at stores open at least one year fell 7 percent.


Excluding sales in both periods from Lane Bryant, which was sold to Charming Shoppes Inc. in August, sales decreased 4 percent.


Intimate Brands' operating loss totaled $13.5 million, compared with income of $80.1 million last year. Its net loss was $10.7 million, compared with income of $43.2 million last year.


Net sales fell to $905.6 million from $944 million, as comparable-store sales were down 10 percent.


The Limited owns about 84 percent of Intimate Brands.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs: