Limited Brands to up capex by 39%

Columbus, Ohio -- Limited Brands told investors Wednesday that it would up its capital spending to $590 million next year, a 39% increase over the $425 million it will spend this year and double what the retailer spent in 2009 and 2010. Limited CFO Stuart Burgdoerfer, in his address at the company’s annual investor update meeting in New York City, said that most of the increase will be used to expand or remodel Victoria's Secret stores in the United States. Limited plans to open its first full-assortment Victoria's Secret stores outside of North America next year, with a company-owned