Lands’ End Sees Q1 Declines but Beats Expectations Lifting Stock Price
Lands’ End, the all-American, classically styled brand, showed top- and bottom-line declines last quarter, but investors were pleased with the outcome and pushed the stock price up 13 percent to $8.94 on Thursday.
The net loss for the first quarter ended May 1 was $8.3 million, or 27 cents per diluted share, which was better than expected. In the year-ago quarter, the losses totaled $6.4 million, or 20 cents.
The adjusted net loss was $5.4 million, down from $6.2 million.
Net revenues in the first quarter reached $261.2 million, a decrease of 8.5 percent compared with $285.5 million a year earlier. Excluding the impact of the kids’ and footwear inventory transition to licensees during the first quarter of fiscal…
