(Filed Under Financial and General Interest News). Limited Brands, Inc., parent to Victoria’s Secret, reported a comparable store sales increase of 3 percent for the five weeks ended Dec. 29, 2012, compared to the five weeks ended Dec. 31, 2011. According to the firm, “net sales of $1.947 billion for the five weeks ended Dec. 29, 2012, compared to net sales of $1.868 billion last year.”
In addition, Limited Brands reported “a comparable store sales increase of 6 percent for the 48 weeks ended Dec. 29, 2012, compared to the 48 weeks ended Dec. 31, 2011.”
Noting an overall decline in company sales, Limited Brands “reported net sales of $9.472 billion for the 48 weeks ended Dec. 29, 2012, compared to sales of $9.590 billion last year,” explaining that “2011 year-to-date sales included $702.4 million attributable to the third party apparel sourcing business, which was sold in November 2011.” In that transaction, Limited Brands sold the “controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands,” to Sycamore Partners, a private equity firm based in New York, according to that firm. At the time, Sycamore noted that “Limited Brands will retain 100 percent ownership of its separate sourcing operation for their intimate apparel and personal care/beauty businesses.”
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