(Filed Under Financial and General Interest News). Limited Brands, owner of the Victoria’s Secret business, announced that operating income for the fourth quarter ended January 28, 2012 rose to $786.5 million compared to $713.5 million last year, and adjusted net income was $459.2 million compared to $419.7 million last year.

Fourth quarter earnings per share were $1.17 compared to $1.36 last year; operating income was $641.1 million compared to $713.5 million last year; and net income was $359.4 million compared to $452.3 million last year.

The company reported a comparable store sales increase of 7 percent for the fourth quarter, compared to the fourth quarter ended Jan. 29, 2011. The company reported net sales of $3.515 billion for the fourth quarter ended Jan. 28, 2012, compared to sales of $3.456 billion last year. The company noted that “Total sales were negatively impacted by the sale of our third party apparel sourcing business in the beginning of November 2011.”

Adjusted earnings per share for the year ended Jan. 28, 2012, which exclude certain significant items, increased 26 percent to $2.60 compared to $2.06 for the year ended Jan. 29, 2011. Adjusted operating income was $1.546 billion in 2011 compared to $1.284 billion in 2010, and adjusted net income was $817.3 million compared to $684.5 million in 2010.

Including significant items, reported 2011 full-year earnings per share were $2.70 compared to $2.42 in 2010; operating income was $1.238 billion compared to $1.284 billion in 2010; and net income was $850.1 million compared to $804.8 million in 2010.

The company reported a comparable store sales increase of 10 percent for the year ended Jan. 28, 2012, compared to the year ended Jan. 29, 2011. The company reported net sales of $10.364 billion for the year ended Jan. 28, 2012, compared to sales of $9.613 billion last year.

Looking ahead, Limited Brands currently expects 2012 full-year earnings per share to be between $2.60 and $2.80, including earnings per share between $0.35 and $0.40 in the first quarter. The company expects to report a February comparable store sales increase in the mid to high single digit range, versus its previous estimate of up low single digits.

The company also announced that it has completed its previously announced $250 million share repurchase program, and the board of directors has authorized a new $500 million share repurchase program.

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Published 03-05-2012 by Nick Monjo