Limited Brands Inc. said Wednesday that its fiscal second-quarter profit fell by more than half amid a difficult retail environment, but results beat expectations as the company kept a tight rein on costs.
Shares rose $1.09, or 6.1%, to $18.90 after hours. They had closed at $17.97 before earnings were released.
The Columbus, Ohio, company, which operates Bath & Body Works and Victoria's Secret, said profit for the three months that ended Aug. 2 fell 61% to $102 million, or 30 cents a share, from $264.4 million, or 67 cents, a year earlier. Revenue fell 13% to $2.28 billion.