Victoria’s Secret parent Limited Brands Inc. LTD-N

says its profit rose sharply in the fourth quarter as the retailer benefited from cost-cutting and tight inventory controls.

Limited says it earned $356.1-million (U.S.), or $1.08 per share, for the quarter ended Jan. 30. That compares with $16.1-million, or 5 cents per share, in the year-ago period.

Revenue reached $3.06-billion, from $3-billion in the year-ago period.

Adjusted net income was $1.01 per share, beating analyst expectations for 98 cents.

The company expects first-quarter earnings between 5 and 10 cents per share. Analysts expect 7 cents.

Limited is based in Columbus, Ohio.