Limited Brands (LTD), parent company of Victoria's Secret, Bath and Body Works and La Senza, said Wednesday its fiscal 2011 earnings per share rose on stronger same-store sales and a share buyback.
The Columbus, Ohio-based retailer's full-year income fell 3 percent to $1.24 billion from $1.28, with earnings per share jumping to $2.70 from $2.42.
Despite a 10 percent increase in same-store sales and the share buyback, annual operating income declined for the full year becasue of significant items, such as pre-tax gains of $110.8 million, charges of $256.1 million and $28.4 million in tax benefits.
The company's fourth-quarter sales increased 7 percent to $3.52 billion from $3.46 billion in the previous fiscal year. There was a decrease in the number of shares outstanding in the quarter ended Jan. 28.
The company's outlook for fiscal 2012 calls for $2.60 to $2.80 in earnings per share, with same-store sales increases in the mid-to-high single digit range.
The company's stock fell 19 cents to $45.48 on the day, but took a 4.6 percent dip in after hours trading to $43.40.