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SMALL BUSINESS
Limited Brands ups outlook, lowers sales forecast
AP
NEW YORK -Limited Brands on Monday said it may break even or post a smaller loss than originally forecast in the third quarter but expects lower October sales.
The operator of stores including Victoria's Secret and Bath & Body Works now expects to report between breakeven earnings and a loss of 4 cents per share for the third quarter. Its previous estimate was a loss of 7 to 12 cents per share.
The company, based in Columbus, Ohio, also said it expects October sales at stores open at least a year to fall by "low-to-mid single digits." It previously forecast flat sales from a year ago.
Limited Brands Inc. will release third-quarter earnings on Nov. 19.
Its shares tumbled $1.54, or 8 percent, to $18 in after-hours trading after closing Monday's regular session up 27 cents at $19.49.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-26 17:00:39
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