(RTTNews) - Specialty retailer Limited Brands, Inc. (LTD: News ), on Thursday reported declines in comparable store sales and total sales for the month of October. The company said comparable store sales for the four weeks ended October 31, 2009 decreased 4%, compared to a 9% decrease in October 2008.

At Victoria's Secret Stores, same-store sales in October slipped 6%, compared to a 10% drop last year, whereas at La Senza, the drop was 7% for both the periods. However, at Bath & Body Works, comparable store sales for the month climbed 2%, in comparison with a 7% decline last year. Previously, the operator of stores including Victoria's Secret and Bath & Body Works expected October same-store sales to be roughly flat with last year.

Net sales for October were $561.1 million, lower than $580.4 million reported last year.

For the month of September, Columbus, Ohio-based Limited Brands had reported a 1% growth in same-store sales, helped by strong results at its Bath & Body Works chain, while net sales declined to $654.8 million from $673.4 million reported last year.

For the third quarter of 2009, Limited Brands reported a 2% decline in comparable store sales, compared to a decrease of 7% in the year ago quarter. Net sales for the third quarter were $1.777 billion, down from $1.842 billion a year earlier.

For the thirty-nine weeks ended October 31, 2009, comparable store sales decreased 7%, compared to a drop of 7% in the same period last year. Net sales for the year-to-date period was $5.569 billion, down from sales of $6.052 billion last year.
On October 26, the company raised its third quarter earnings outlook, and said it now expects third quarter results to range between breakeven and a loss of $0.04 per share, compared to its prior expectations of a loss of $0.07 to $0.12 per share.

On average, 18 analysts polled by Thomson Reuters currently expect the company to report a loss of $0.02 per share for the third quarter. Analysts' estimates typically exclude one-time charges and gains.

As at October 31, 2009, the company operated 3,025 stores, including 1,046 Victoria's Secret Stores, 304 La Senza and 1,636 Bath & Body Works stores.

With the economic crisis encouraging the purchase of only essential items, apparel retailers have had a tough time. Specialty retailers to a great extent have their fortunes tied to employment, which is a decisive factor when it comes to discretionary spending. Retailers, however, are reporting some encouraging trends from October as they head into the holiday shopping season

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