Here's the news:...Limited Brands announced that it has signed a definitive agreement with affiliates of Golden Gate Capital to sell a 67% ownership interest in its Express brand for cash proceeds of $548 million....Limited StoresThe Company also announced that it is exploring strategic options for its Limited Stores business....2007 Earnings OutlookThe Company stated that it now expects 2007 first quarter earnings to be $0.12 to $0.14, versus its initial guidance of $0.25 to $0.28, and $0.25 last year. The decrease versus initial expectations was driven by lower-than- anticipated sales and merchandise margins at each of its brands in the first quarter, particularly Victoria's Secret.The Company expects that trends will continue to be challenging in the second quarter, especially at Victoria's Secret, and therefore estimates 2007 second quarter earnings per share to be $0.20 to $0.24 compared to $0.28 per share last year. This estimate does not include any impact from the Express transaction or potential strategic options for Limited Stores.For the full year 2007, the Company now expects earnings per share of $1.55 to $1.65, versus its initial guidance of $1.75 to $1.90. This estimate does not include any impact from the Express transaction or potential strategic options for Limited Stores....http://biz.yahoo.com/prnews/070515/cltu112.html?.v=23
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar