secwatch.observer — SEC 8-K summary
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Issuer:     LANDS' END, INC. (LE)
CIK:        0000799288
Form:       8-K
Filed at:   2024-06-05T23:59:59+00:00
Accession:  0000950170-24-069064
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lands' End Q1 net revenue down 7.8% to $285.5M; gross margin expands 410 bps to 48.7%
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- Net loss of $6.4M ($0.20 loss per share) vs loss of $1.7M ($0.05) a year ago; adjusted net loss $6.2M.
- Global eCommerce revenue fell 3.7% to $195.5M; Outfitters revenue down 42.3% to $42.7M on Delta Air Lines contract end.
- Gross margin improved to 48.7% from 44.6% on lower promotions and supply chain gains; inventory down 23% YoY.
- Adjusted EBITDA $11.6M vs $19.5M; excluding Delta Air Lines, adjusted EBITDA up 68.1%.
- Q2 FY2024 guidance: revenue $290-320M, adjusted EBITDA $14-17M; full-year adjusted EBITDA $88-97M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799288/000095017024069064/0000950170-24-069064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799288/000095017024069064/le-20240327.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-069064

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