Lands’ End shares jump on earnings beat, retailer’s better-than-expected outlook

A lady retailers for Lands End model sweaters in Niles, Illinois.

Tim Boyle | Getty Images

Lands’ End shares jumped practically 7% in premarket buying and selling Wednesday after the attire and home-goods retailer reported fourth-quarter earnings and gross sales that topped analysts’ estimates.

It additionally provided a better-than-expected outlook for the present quarter, and anticipates gross sales and earnings to develop for the total 12 months.

Here’s how Lands’ End did for the quarter ended Jan. 29 in contrast with what analysts had been anticipating, utilizing a ballot by Refinitiv:

  • Earnings per share: 60 cents vs. 56 cents anticipated
  • Revenue: $538.four million vs. $530.9 million anticipated

Net revenue for the interval fell to $19.9 million, or 60 cents per share, in contrast with $25.5 million or 78 per share, a 12 months earlier. That got here in higher than the 56 cents per share anticipated by analysts.

Revenue declined about 2% to $538.four million from $549.5 million within the year-ago interval. That additionally got here in higher than the $530.9 million forecast by analysts.

Lands’ End stated its on-line gross sales globally rose 7.5%, together with a 38% enhance in e-commerce gross sales in Europe, and a 3.7% enhance within the United States.

“We were well positioned to capitalize on the accelerated shift to online as a digitally-led company,” Chief Executive Jerome Griffith stated in a press release.

The firm expects its 2021 income to be inside $1.52 billion and $1.57 billion, with earnings per share of 34 cents to 58 cents. In fiscal 2020, the corporate’s income was $1.43 billion, with earnings of 33 cents a share.

It’s calling for first-quarter income of $275 million to $285 million, with a lack of 25 cents to 32 cents per share. Analysts had forecast the corporate’s income amounting to $240.6 million, on a lack of 47 cents per share, in line with Refinitiv.

Lands’ End shares are up greater than 670% over the previous 12 months. The firm has a market cap of $1.15 billion.

Find the total press launch from Lands’ End right here.

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Written by Business Boy


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