(Filed Under Financial and General Interest News). Limited Brands, Inc. cited a comparable store sales drop of 2 percent during this year’s third quarter ended October 31, 2009. Net sales were $1.777 billion compared to $1.842 billion, a 3.5 percent drop. But despite drops in sales, the company reported an increase in net income, to $14.9 million, or 5 cents per diluted share, from $4.2 million, or 1 cent per diluted share; which it attributed to better cost and inventory management.
For the Victoria’s Secret brand, comparable store sales fell 4 percent compared to an 8 percent drop last year. The company ended the quarter with 1,046 Victoria’s Secret stores in the United States, three Victoria’s Secret Canada stores and 304 La Senza stores. Total company stores at the end of the quarter were 3,025.
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