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June 2, 2020, 7:01 a.m. EDT

Lands' End results miss expectations but revenue outlook is upbeat

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By Tomi Kilgore

Shares of Lands' End Inc. /zigman2/quotes/207371805/composite LE -4.19% were indicated up slightly in premarket trading Tuesday, after the casual apparel retailer reported fiscal first-quarter results that missed expectations but provided and upbeat sales outlook. The net loss for the quarter to May 1 widened to $20.6 million, or 64 cents a share, from $6.8 million, or 21 cents a share, in the year-ago period. Revenue fell 17.3% to $217.0 million, due to decreased demand as a result of the COVID-19 pandemic. The average estimate of two analysts surveyed by FactSet was for losses per share of 56 cents and revenue of $218.0 million. The company said e-commerce revenue fell 16.5%. The company said revenue was up 11.1% in February, with same-store sales up 14.2%, before stores closed in mid-March. The company said it expects second-quarter revenue to be down in the mid-to-high single digits percentage range, while the current average analyst estimate of $267 million implies a 10.4% decline. Lands' End expects its retail stores to reopen by the end of June, and expects retail sales to "ramp up" in the second half of the year. The stock has tumbled 57.0% year to date through Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.08% has slipped 5.4%.

US : U.S.: Nasdaq
$ 8.01
-0.35 -4.19%
Volume: 439,607
July 7, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$272.50 million
Rev. per Employee
-34.40 -1.08%
Volume: 2.29B
July 7, 2020 5:18p

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