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UPDATE 1-Limited Brands beats Wall Street estimates
November 14, 2012 / 10:03 PM / 5 years ago

UPDATE 1-Limited Brands beats Wall Street estimates

Nov 14 (Reuters) - Victoria’s Secret parent Limited Brands Inc posted a bigger-than-expected quarterly profit, coming ahead of its raised forecasts earlier this month as demand for its lingerie and home products remained strong before the start of the holiday season.

The company had earlier raised its profit estimates for the third quarter after adjusting for store closures to between $0.23 to $0.25 a share from $0.15 to $0.20.

The company earned $73.4 million, or 25 cents a share for the quarter ended Oct 27 compared with $94.3 million or 31 cents a share.

After adjusting for the store closures, Limited earned 26 cents a share, beating analyst estimates for 24 cents, as per Thomson Reuters I/B/E/S.

Sales came in at $2.05 billion, compared to $2.17 billion last year.

Shares of the company were trading almost flat at $46.84 Wednesday after the bell. They closed at $46.60 On the New York Stock Exchange.

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