October 26, 2009 / 9:12 PM / 10 years ago

UPDATE 2-Limited cuts Oct sales view; shares fall

* Sees Q3 shr nil to loss 4 cts vs pvs view loss 7-12 cts

* Sees Oct comp sales negative low-to-mid single digits

* Shares fall 8.3 pct after hours (Recasts, adds details on investor day, updates stock price)

SAN FRANCISCO, Oct 26 (Reuters) - Limited Brands Inc LTD.N warned on Monday that its October sales are trending below its expectations, sending its shares down more than 8 percent in late trading.

The operator of the Victoria’s Secret and Bath & Body Works chains said it expects October same-store sales, or sales at stores open at least a year, to be in the negative low-to-mid single digit range. Its previous view called for sales to be roughly flat.

Earlier this month, retailers — including Limited Brands — reported better-than expected September sales, raising hope among investors that consumers were starting to splurge on little luxuries that they shunned amid the economic downturn.

Limited’s September same-store sales rose 1 percent, beating analysts’ estimates for a 2.4 percent drop, helped by strong results at its Bath & Body Works chain.

For its third quarter, the retailer forecast that, on a per share basis, it would break even or report a loss of as much as 4 cents. It had previously forecast a loss of 7 cents to 12 cents per share.

Limited provided the forecast ahead of its investor meeting, which is scheduled for Oct. 27 and will include presentations by the chief executive officers of Bath & Body Works and Victoria’s Secret.

Shares of Limited fell 8.3 percent to $17.87 after hours from a close on the New York Stock Exchange of $19.49. (Reporting by Nicole Maestri; Editing by Richard Chang, Phil Berlowitz)

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