secwatch.observer — SEC 8-K summary
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Issuer:     LANDS' END, INC. (LE)
CIK:        0000799288
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0000950170-24-103728
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lands' End Q2 net loss narrows to $5.3M; gross margin up 470bps to 47.9%; raises FY profit guidance
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- Net revenue $317.2M, down from $323.3M; GMV up mid-single digits; gross profit up 8.8% to $151.9M.
- Gross margin expanded ~470bps to 47.9% on lower promotions and improved supply chain; inventory down 21% YoY (6th consecutive quarter improvement).
- Adjusted EBITDA $17.1M vs $15.8M; net loss $5.3M ($0.17 loss per share) vs $8.0M loss.
- Raised FY2024 adjusted EBITDA guidance to $90M-$98M; Q3 guidance: revenue $300-340M, adj EBITDA $19-23M.
- Repurchased $3.7M common stock under $24M program; $20.3M remaining.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799288/000095017024103728/0000950170-24-103728-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799288/000095017024103728/le-20240905.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-103728

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