Lands’ End, Inc (NASDAQ: LE)
Shares of Lands’ End, Inc. surged to their highest intra-day high since May 2015 after the company posted a narrower-than-expected loss on Tuesday, for the first quarter of fiscal 2018.
LE Earnings & Outlook
The company reported a net loss of $2.6 million, or $0.08 per share during the quarter.
In the same period last year, the home products retailer posted a net loss of $7.8 million, or $0.24 per share. Analysts surveyed by Thompson Reuters expected a net loss of $0.17 per share for the quarter ended May 4.
Revenue came in at $299.8 million, up 12% from last year’s comparable quarter, and above analyst estimate of $285.0 million.
Net revenue from its Retail segment dropped to $26.5 million, or 34% due to scarce Lands’ End Shops in Sears stores. Net revenue from its Direct segment was $273.4 million, representing an increase of increased 19.7% from the year-ago period.
Lands’ End CEO Comments
Commenting on the results, Lands’ End Chief Executive Officer Jerome S. Griffith said, “We are pleased to be starting off the year on a strong note. Our first quarter results represent the fourth straight quarter of top line growth and third quarter of profitability growth, demonstrating the continued progress we have made across our strategic initiatives. We saw excellent growth in our uniform business with the successful launch of our Delta Airline business.”
“Looking ahead, data analytics will remain the driving force behind everything we do as a customer-centric organization. As we further refine our product assortment, advance our digitally-driven efforts, enhance our distribution network, and further elevate our infrastructure to support the business, we remain well positioned to achieve our long-term objectives,” Griffith concluded.
Lands’ End, Inc. Company Profile
Lands’ End, Inc. is a multi-channel retailer that operates in the United States, United Kingdom, Japan, and Germany.
The company has two segments of operation: Retail and Direct. Its products include home items, casual clothing, footwear, and accessories.
It offers knit tees and tops, coats, blouses, swimwear, jeans, sleepwear, dress shirts, shoes, shorts, skirts, casual shirts, sweaters, polo shirts, as well as bags for men and women.It also offers outwear, jackets, pants, blazers, leggings, swimsuits, and tops for children.
The company also sells pillowcases and sheets, throws and duvet covers, comforters and blankets, mats and towels, mattress pads and shower curtains, as well as rugs and school uniforms.
It sells its products through its own company-branded stores, affiliate international and specialty websites; its own e-commerce website landsend.com; direct mail catalogs; retail locations at Lands’ End outlets at Sears, as well as international in-store shops.
The company operated a total of 14 Lands’ End stores and 174 Lands’ End Shops at Sears as of February 2, 2018. Lands’ End, Inc. was founded by Gray C. Comer in 1963 and its headquarters are located in Dodgeville, Wisconsin. – Reuters