Limited Brands sales
This article was originally published in The Rose Sheet
Executive Summary
In 2010, Victoria's Secret will open 15 new "travel and tourism" stores in international airports and tourist destinations, nearly doubling the existing number, Limited Brands Chief Administrative Officer Martyn Redgrave told analysts during a Feb. 25 fourth-quarter analyst call. The stores, which feature beauty products and Victoria's Secret branded accessories, are about 1,000 square feet in size, he said, adding the firm is continuing to work on the assortment to ensure it has a "robust infrastructure to support further growth." Redgrave added that the stores are turning in strong early results, with sales productivity levels in the "thousands per square foot." B&BW indicated the concept was off to a strong start during a November sales call (1"The Rose Sheet" Nov. 23, 2009). Limited Brands reported that its net sales in 2009 fell 4.5% to $8.63 bil. and adjusted net earnings per share increased 17% to $1.23. The Bath & Body Works marketer also said it expects 2010 full-year EPS to be between $1.40 and $1.60 per share