Limited’s Q3 profit dips, but beats view
Columbus, Ohio — Limited Brands Inc. reported Thursday that net income for the quarter ended Oct. 27 dropped to $73.4 million from $94.3 million in the same quarter last year. Results still managed to beat Wall Street expectations.
Limited, which also owns Victoria’s Secret and Bath & Body Works, saw sales slip 5.7% to $2.05 billion from $2.17 billion, but results matched analysts’ forecasts. Same-store sales climbed 5%.
Limited Brands also said Wednesday its board authorized the repurchase of up to $250 million in stock. The authorization includes $49.6 million remaining under the previous $500 million program.
Ross Stores profit rises 11% in Q3, sales miss
Pleasanton, Calif. — Ross Stores Inc. reported Thursday that net income rose 10.8% to $159.5 million in the third quarter, compared with $144 million a year earlier.
Revenue rose 10.6% to $2.26 billion, missing Wall Street’s expected $2.34 billion in revenue. Same-store sales climbed 5%.
The retailer has reaffirmed its guidance for the fourth quarter.
Hot Topic Q3 profit leaps 38%
City of Industry, Calif. — Hot Topic Inc. reported Wednesday that profit for the third quarter jumped 38% to $4.3 million, from $3.1 million in the year-ago quarter.
Revenue edged up 2% to $179.4 million from $175.8 million, missing Wall Street’s expected $182.9 million in revenue.
Same-store sales rose a slight 0.2%.