secwatch.observer — SEC 8-K summary
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Issuer:     LANDS' END, INC. (LE)
CIK:        0000799288
Form:       8-K
Filed at:   2023-08-31T23:59:59+00:00
Accession:  0000950170-23-045602
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799288/000095017023045602/0000950170-23-045602-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799288/000095017023045602/le-20230831.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-045602

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer