Limited Brands Q2 profit falls

in the same period last year. But the company says it is pleased with its performance "in this challenging economic environment" and has raised its full-year guidance. Leslie Wexner, chairman and chief executive officer, said: "Our disciplined management of inventory and expenses resulted in earnings per share that exceeded our initial expectations and increased 35% over last year's comparable result in spite of negative same store sales in the quarter.

" Net sales in the quarter fell 13 % to $2.284bn from $2.624bn last year, which was buoyed by sales at the Express stores, and Comparable store sales were down 7%. In its outlook, Limired Brands said it expects third quarter earnings per share to be $0.00 to $0.04 compared to a loss of $0.01 per share last year. Limited Brands was founded in 1963 and has more than 3,500 stores and six retail brands: Victoria's Secret, Bath & Body Works, CO Bigelow, The White Barn Candle Co, Henri Bendel and La Senza.