Limited Brands (NYSE: LTD), the retailer that runs stores such as Bath & Body Works, Pink, and the sexy Victoria's Secret, issued its Q1 numbers after the bell on Wednesday.

The bottom line didn't look bad. Not that it looked great, mind you. The company earned 1 cent per share. The fact that there was any profit at all was big news. According to analysts, a loss of 3 cents per share was more likely.

The revenue picture was not so pretty, however. Net sales dropped by 10%. And same-store sales decreased 7%. I guess buying lingerie isn't a top priority during a time when jobs are being cut and consumers look in terror upon their 401(k) balances.

Even with the stimulus checks, retail sales numbers for June and July have been nothing to cheer about. And this coming week should provide another look at how things have been shaping up in the apparel and accessories arena. A number of companies are scheduled to release quarterly numbers, from upscale retailer Nordstrom to the parent of discounter TJ Maxx, from hipster Urban Outfitters to global giant Wal-Mart. Here's a look at what Wall Street is anticipating.

Analysts surveyed by Thomson Financial expect the following to report strong earnings growth when compared to the same period of the previous year.

• Urban Outfitters Inc. (NASDAQ: URBN): $0.30 EPS (+36.7%) on revenue of $448.5 million (+28.7%)
• Estée Lauder Cos. Inc. (NYSE: EL): $0.56 EPS (+19.6%) on revenue of $1.9 billion (+9.4%)
• TJX Cos. Inc. (NYSE: TJX): $0.46 EPS (+17.4%) on revenue of $4.6 billion (+6.8%)
• Fossil Inc. (NASDAQ: FOSL): $0.25 EPS (+16%) on revenue of $346.8 million (+13.2%)
• Wal-Mart Stores Inc. (NYSE: WMT): $0.84 EPS (+14.3%) on revenue of $101.7 billion (+9.3%)
• Elizabeth Arden Inc. (NASDAQ: RDEN): $0.22 EPS (+9.1%) on revenue of $237.6 million (-2.1/%)
• Abercrombie & Fitch Co. (NYSE: ANF): $0.93 EPS (+5.4%) on revenue of $872 million (+8.4%)

Illegal drawstrings sounds like a line from an old-time Western, but retailer J.C. Penney Company, Inc. (NYSE:JCP) probably wasn't amused after recently agreeing to settle out of court for $350,000 amid allegations that it sold children's clothes with "illegal drawstrings." I guess Wisconsin is the only state with this law so far.

The infringement came after Penney's sold children's hooded sweatshirts with drawstrings around the neck in the fall of 2005. Penney's, however, immediately removed the sweatshirts and cooperated with a manufacturer's voluntary recall with the U.S. Consumer Protection Safety Commission. Upon settling the case, the retailer made no admission that it violated the law.

Apparently, Wisconsin was the first state to make children's drawstrings illegal, although a voluntary standard is in place nationally. The Wisconsin ban is supported by state chapters of the Safe Kids Coalition -- an organization I support due to the fact that it stringently looks after the best interests of all children.

The U.S Consumer Protection Safety Commission received reports of 22 deaths and 48 non-fatal incidents involving the entanglement of children's clothing drawstrings from the period of 1985 to 1999, so making drawstrings illegal perhaps is not a bad idea after all. This case will possibly make clothing manufacturers get innovative in the design process again.

When you think of decorating your home, apartment or condo recently, which retailer do you think of first? Many choose Macy's, Nordstrom's (NYSE:JWN), J.C. Penney (NYSE:JCP) and even Target (NYSE:TGT). How about Sears? I'd be willing to bet that Sears does not top the "mindshare" list of retailers when home furnishing shopping trips are planned. The retailer, though, is hoping to change that.

Sears, held by Sears Holdings, Corp. (NASDAQ:SHLD), started trying to forge an image of being a place to shop for home furnishings a few years ago -- but in my opinion, the chain has had little progress at this time. A merger between itself and discount retailer Kmart mired its image with confusion for a while, but now the retailer is again trying to firmly plant a "hip" image to the home furnishings shopper. The furniture and decor offering at Sears at this point had dwindled to just a disconnected collection of offerings -- and it was not marketed in the right way. Ever looked in a recent Sears catalog? Ouch.

Discount retailer Target, on the other hand, had been re-building itself with very hip and chic designs. It is offering complete home furnishing solutions instead of tired, individual products. Target also brought in big names like Michael Graves, Philippe Starck, Isaac Mizrahi and Thomas O'Brien. Even designer Chris Madden lent her name to J.C. Penney's home collections of bedsheets, pillow cases and bedroom furnishings. In addition, Kmart continued to do endorsement business with Martha Stewart insofar as bedding and garden furniture.

What can Sears do to counteract this and actually grow its home furnishings business? If Lowe's (NYSE:LOW) and Home Depot, Inc. (NYSE:HD) stock downgrades are any indication, the slowdown in homebuying will continue further and may pinch the ability of Sears to re-invent that part of its business at this time. But there's always 2008 I guess.