Limited Brands Inc. (LTD: News ) posted a comparable-store sales growth of 7 percent for the four weeks ended Nov. 26, 2011, compared with the previous year. The company's net sales slid to $872.6 million from $893.0 million a year earlier, driven by the sale of its third party apparel sourcing business in the beginning of November 2011.
In addition, the company's board declared a special dividend of $2 per share, payable on Dec. 23, 2011, to shareholders of record at the close of business on Dec. 12, 2011.
Further, the company expects 2011 free cash flow of about $700 million and a year-end cash balance, after the payment of the special dividend, of nearly $800 million. With this distribution, the company would have returned $12 billion to shareholders since 2000.
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