Limited Brands Company

Maybe it was the lusty mannequins in its stores, the massage oil on its shelves or the overabundance of cleavage on the glittery runway of its annual TV fashion show. But this week, Victoria's Secret Chief Executive Sharen J. Turney acknowledged that the chain had gotten "too sexy." Is such a thing even possible? "We have moved off of our brand heritage," she said in a conference call with analysts. "We use the word 'sexy' a lot and really have forgotten the ultra-feminine."

Limited Brands Inc. took steps Tuesday to shed its underperforming apparel brands and instead focus on what most of its customers want -- sexy undergarments and bath and beauty products. The company said it planned to sell 67% of its Express stores to San Francisco-based private equity firm Golden Gate Capital for $548 million and sharply cut its earnings estimates for the first quarter and full year.

Limited Brands Inc. posted a 47% drop in fiscal first-quarter profit because of disappointing sales and margins at Victoria's Secret and its other brands, sending its shares down in extended trading. The Columbus, Ohio-based company, which this month announced plans to shed its underperforming apparel businesses, said net income was $52.9 million, or 13 cents a share, for the quarter ended May 5, compared with $99.4 million, or 25 cents, a year earlier. Sales rose 11% to $2.3 billion.

Apparel retailer Limited Brands Inc. is doubling the size of its stock buyback program to $1 billion and cutting 10% of its corporate jobs as it restructures and sheds some of its famous chain stores. The Columbus, Ohio-based owner of Victoria's Secret and Bath & Body Works also said it was still exploring alternatives for its Limited Stores business and considering options regarding other core assets.

Limited Brands Inc., repositioning itself as a seller of lingerie and beauty products, stepped away from the apparel business Monday by giving up majority ownership of its former flagship clothing store. The operator of Victoria's Secret and Bath & Body Works said it had agreed to transfer 75% ownership of its Limited Stores chain to buyout firm Sun Capital Partners Inc. Company founder Leslie H.

Limited Brands Inc., owner of Victoria's Secret, said second-quarter profit more than doubled because of a gain from selling its Express clothing chain. Net income for the quarter ended Aug. 4 rose to $264.4 million, or 67 cents a share, compared with $113.1 million, or 28 cents, a year earlier, Limited said. Excluding one-time items, earnings were 20 cents a share, meeting analysts' estimates.

Limited Brands said third-quarter profit declined, hurt by weak sales during the abnormally warm fall, and predicted that profit would fall short of Wall Street estimates for the fourth quarter. The operator of Victoria's Secret and Bath & Body Works reported a profit of $12.1 million, or 3 cents a share, compared with a profit of $23.5 million, or 6 cents, a year earlier. Sales were $1.9 billion, down from $2.

Limited Brands Inc. posted a third-quarter profit of $23.5 million, helped by sales at the Victoria's Secret chain. The company also agreed to buy Canadian lingerie retailer La Senza Corp. for $628 million in cash. Net income was 6 cents a share, compared with a loss of $683,000, or break-even on a per-share basis, a year earlier, Columbus, Ohio-based Limited said. Revenue rose 12% to $2.11 billion. Limited projected fourth-quarter profit of $1.07 to $1.

Limited Brands Inc., the owner of the Victoria's Secret lingerie chain, said first-quarter profit rose 85% and forecast higher annual earnings than it previously projected. Net income rose to $97.8 million, or 28 cents a share, from $52.9 million, or 13 cents, a year earlier, Limited Brands said. Profit excluding a gain from the sale of a joint venture exceeded analysts' estimates. Sales for the three months ended May 3 dropped 17% to $1.93 billion from a year earlier, before the retailer sold its Express and Limited chains.

Limited Brands Inc. said its third-quarter profit dropped 66% as sales fell in the tough economy. But the results beat analysts' expectations. The Columbus, Ohio, operator of Victoria's Secret and Bath & Body Works says it earned $4.17 million, or a penny a share, down from $12.1 million, or 3 cents, a year earlier. Excluding year-earlier gains related to asset sales, however, the company swung to a profit. Revenue fell 4% to $1.84 billion. Sales at stores open at least a year, a key measure of retail health, dropped 7%.