Lands' End Q2 net loss widens to $8M; gross margin +220bps, inventory -30% YoY

LANDS' END, INC.

2023-Q2 EPS reported -$0.30 revenue$632,921,000

Net revenue of $323.3M, down 7.9% YoY; net loss of $8.0M ($0.25 loss per diluted share) vs. $2.2M loss a year ago.
Gross margin improved 220 bps to 43.2% on strong swim and adjacent categories, reduced markdowns, and better supply chain costs.
Inventories down 30.4% to $396.1M; operating cash flow improved $172M to positive $54.8M vs. ($117.5M) prior year.
Q3 guidance: revenue $340-355M, net loss $6.5-4.0M, adjusted EBITDA $13-16M. FY2023 revenue $1.50-1.55B, adjusted EBITDA $77-84M.
Repurchased $3.0M of stock; $34.8M remaining under buyback program through Feb 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

LANDS' END, INC. reported second quarter ended July 28, 2023 results: revenue $323.3 million, net income Net loss of $8.0 million, or $0.25 loss per diluted share, EPS $0.25 loss per diluted share.

Period: second quarter ended July 28, 2023
Revenue: $323.3 million
Net income: Net loss of $8.0 million, or $0.25 loss per diluted share
EPS: $0.25 loss per diluted share
Result: reported results

Exact text from the filing

prioritizing profitable demand and creating long-term shareholder value.” Second Quarter Financial Highlights • For the second quarter, net revenue decreased 7.9% to $323.3 million compared to $351.2 million in the second quarter of fiscal 2022. • Global eCommerce net revenue was $218.7 million, a decrease of 8.7% from $239.7 million in the second quarter

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Source: SEC EDGAR

accession 0000950170-23-045602

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