Women's fashion and beauty products maker Limited Brands, Inc. (LTD) on Thursday said its December same-store sales fell more than expected, but rising fourth quarter sales compelled the company to raise its full-year guidance.
The Columbus, Ohio-based company said that December same-store sales fell 2% from the prior year. Analysts, on average, had expected a smaller 1.5% drop.
Looking ahead, Limited boosted its full-year earnings forecast to a range of 92 cents to 97 cents per share, compared to a prior outlook of 71 cents to 86 cents per share.
Limited Brands shares rose 62 cents, or +3.3%, in premarket trading Thursday.
The Bottom Line
Shares of LTD were removed from some "recommended" lists back in September 2008 when the stock traded at $20.35 U.S. The company has a 3.15% dividend yield, based on last night’s closing stock price of $19.07 U.S.
The stock has near-term technical support in the $14-$16 U.S. price area. If the shares can firm up, some overhead resistance can be seen around the $20-$22 U.S. price levels. Some experts would remain on the sidelines for now.
Limited Brands, Inc. (LTD) is not recommended at this time, holding a Dividend.com DARS Rating of 3.4 out of 5 stars.
