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Limited’s reports 27% profit surge

BY CSA STAFF

Columbus, Ohio — Limited Brands reported Thursday that its jumped 27% to $452.3 million in the fourth quarter, compared with $356.1 million in the year-ago period, on strong sales and healthy margins.

The parent to Victoria’s Secret and Bath & Body Works previously announced that revenues for the quarter ended Jan. 29 rose 13% to $3.46 billion, beating Wall Street’s estimate. Same-store sales increased 10%.

For the full year, net sales were $9.613 billion compared with net sales of $8.632 billion last year. Same-store sales rose 9%.

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Zale Corp. Q2 profit more than quadruples on improved sales

BY CSA STAFF

Dallas — Zale Corp. said Thursday that net income for the quarter ended Jan. 31 surged to $27.2 million, compared with $6.7 million a year earlier.

Zale, which has struggled to regain profitability as the economy improves, posted net income of $27.2 million compared with $6.7 million, or 21 cents per share a year ago. Sales rose to $626.4 million for the quarter, from $582.3 million. Same-store sale rose 7.9%, compared with a decrease of 11.2% during the comparable period in the prior year.

The results included interest expenses and a $6 million income tax expense. In the comparable quarter a year ago, Zale posted a $12 million tax benefit.

Zale said the quarter marked a turning point because same-store sales turned positive.

"Our financial performance for the critical second quarter reflects the collaborative efforts of our total organization focusing on one objective — delivering a successful holiday," CEO Theo Killion said in a statement. "In doing so, we’ve taken an important step toward our goal of returning to profitability."

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Zale Corp. Q2 profit more than quadruples on improved sales

BY CSA STAFF

Dallas — Zale Corp. said Thursday that net income for the quarter ended Jan. 31 surged to $27.2 million, compared with $6.7 million a year earlier.

Zale, which has struggled to regain profitability as the economy improves, posted net income of $27.2 million compared with $6.7 million, or 21 cents per share a year ago. Sales rose to $626.4 million for the quarter, from $582.3 million. Same-store sale rose 7.9%, compared with a decrease of 11.2% during the comparable period in the prior year.

The results included interest expenses and a $6 million income tax expense. In the comparable quarter a year ago, Zale posted a $12 million tax benefit.

Zale said the quarter marked a turning point because same-store sales turned positive.

"Our financial performance for the critical second quarter reflects the collaborative efforts of our total organization focusing on one objective — delivering a successful holiday," CEO Theo Killion said in a statement. "In doing so, we’ve taken an important step toward our goal of returning to profitability."

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