Lands' End Q3 net loss $4.7M vs prior-year profit; lowers FY2022 guidance

LANDS' END, INC.

2022-Q3 EPS reported -$0.28 revenue$1,025,826,000

Net revenue fell 1.3% YoY to $371.0M; net loss of $4.7M ($0.14 loss per diluted share) vs net income of $7.4M ($0.22) in Q3 2021.
Gross margin contracted ~440 bps to 40.0%, driven by $6.8M incremental transportation costs and higher promotional activity.
Adjusted EBITDA dropped to $16.7M from $29.8M; inventories rose 18% to $564.9M due to earlier holiday receipts.
Full-year FY2022 guided net revenue $1.54-1.56B, net loss $0.27-$0.18 per diluted share; adjusted EBITDA $66.5-71.5M.
Q4 FY2022 guided net revenue $510-530M and net income $0-3M; expects continued promotional environment.

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 0.95

LANDS' END, INC. reported third quarter ended October 28, 2022 results: revenue $371.0 million, net income $4.7 million, EPS $0.14 loss per diluted share. Guidance lowered.

Period: third quarter ended October 28, 2022
Revenue: $371.0 million
Net income: $4.7 million
EPS: $0.14 loss per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

For the third quarter, net revenue decreased 1.3% to $371.0 million compared to $375.8 million in the third quarter of fiscal 2021.

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Source: SEC EDGAR

accession 0001564590-22-038730

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