Limited Brands revenue metric up 3 pct in March
by , 2013-04-15 14:04:30
NEW YORK -Limited Brands Inc. said Thursday that a key revenue metric rose 3 percent in March, as the operator of Victoria's Secret, Pink, and Bath and Body Works beat Wall Street expectations.
Analysts surveyed by Thomson Reuters had expected no growth in the gauge for the five weeks ended April 6 compared with its performance a year earlier.
That measurement is closely watched as an indicator of retail health because it excludes the potentially distorting impact of sales at stores opened or closed in the past year. The period covered included the Easter holiday this year.
The Columbus, Ohio-based retailer said its overall sales rose 6 percent to $894.8 million for the five weeks ended April 6, up from $840.9 million a year ago.
The company operates 2,617 specialty stores in the United States. Limited shares closed at $48.17 per share on Wednesday.
Analysts surveyed by Thomson Reuters had expected no growth in the gauge for the five weeks ended April 6 compared with its performance a year earlier.
That measurement is closely watched as an indicator of retail health because it excludes the potentially distorting impact of sales at stores opened or closed in the past year. The period covered included the Easter holiday this year.
The Columbus, Ohio-based retailer said its overall sales rose 6 percent to $894.8 million for the five weeks ended April 6, up from $840.9 million a year ago.
The company operates 2,617 specialty stores in the United States. Limited shares closed at $48.17 per share on Wednesday.