Highest-materiality recent filing
Lands' End stockholders re-elect all seven directors, approve say-on-pay and auditor
All seven director nominees elected with ~99% of votes cast for each; broker non-votes of 692,044.
Lands' End completes JV with WHP Global, receives $300M, repays $234M term loan
Lands' End contributed brand IP to JV, sold 50% controlling interest for $300M cash.
Lands' End board authorizes $100M share repurchase program through March 2029
Board authorized $100M common stock repurchase from April 1, 2026 to March 31, 2029.
Lands' End Q4 revenue +4.7% to $462M, adj EPS $0.76; WHP JV on track for Q1 close
Q4 net revenue $462.4M (+4.7% YoY); US eCommerce +4.8%; Outfitters +9.6%; Europe eCommerce +9.3%.
Lands' End approves transaction success bonuses for three executives tied to WHP Global deal
CEO Andrew McLean awarded bonus of 2x annual base salary payable at closing and over 2 years.
Lands' End sells 50% IP stake to WHP Global for $300M; WHP launches $100M tender at $45
Lands' End contributes all brand IP and related assets to new JV; sells 50% controlling interest to WHP Global for $300M cash.
Lands' End to sell 50% of IPCo to WHP for $300M; tender offer for up to $100M of stock
WHP will purchase 50% of newly formed IPCo (holding Lands' End brand IP) for $300M cash; proceeds used to repay term loan.
Lands' End Q3 net income $5.2M; Adj. EBITDA up 28% to $25.9M
Net income of $5.2M ($0.17 EPS) vs $(0.6M) loss a year ago; Adj. diluted EPS $0.21 vs $0.06.
Lands' End Q2 revenue down 7.3% to $294M; net loss narrows to $0.12/share; gross margin up 90 bps
Net revenue $294.1M (-7.3% YoY); U.S. eCommerce fell 11.2% to $167.3M, Outfitters grew 5.1% to $66.4M.
Lands' End Q1 net revenue $261.2M (-8.5% YoY); net loss $0.27/sh; gross margin 50.8% (+210bps)
Net revenue $261.2M (-8.5% YoY); U.S. eCommerce flat at $170.7M; Europe eCommerce down 28.4% to $17.9M.
Lands' End stockholders elect all 7 director nominees and approve say-on-pay
Robert Galvin, Gordon Hartogensis, Elizabeth Leykum, Josephine Linden, John T. McClain, Andrew J. McLean, Alicia Parker elected to board.
Lands' End enters retention agreements with CEO, CFO, President; payments tied to Change in Control
Retention agreements with CEO Andrew McLean ($550k), CFO Bernard McCracken ($263k), and President Peter Gray ($348k).
Lands' End amends ABL facility: maturity extended to 2030, commitments reduced to $225M
Maturity extended from July 2026 to March 2030.
Lands' End Q4 net income $18.5M vs loss year ago; FY2024 returns to profitability
Q4 net revenue $441.7M, down 14.2% YoY; gross margin +760bps to 45.6%.
Lands' End amends CFO McCracken's severance agreement with enhanced benefits
Amended severance provides 12 months base salary plus avg of prior 2 years' annual bonus; 24 months if change-in-control.
Lands' End Board launches strategic alternatives process including potential sale
Board initiates process to explore strategic alternatives, including sale or merger.
Lands' End confirms receipt of letter from Edward Lampert requesting strategic sale process
Edward S. Lampert requested the Company initiate a strategic sale process to maximize shareholder value.
Lands' End elects Gordon Hartogensis to Board, expanding to seven members
Gordon Hartogensis elected to Board effective January 22, 2025; board size increased from six to seven.
Lands' End participates in ICR Conference; no new financial details disclosed
Fireside chat at 27th Annual ICR Conference scheduled for January 14, 2025.
Lands' End Q3: gross margin up 360bps to 50.6%, adj EBITDA $20.3M, guides Q4 rev $440-480M
Net revenue $318.6M (-1.9% YoY); gross profit $161.1M (+5.6%) on lower promotions and supply chain savings.
Lands' End EVP & Chief Transformation Officer Angela Rieger to retire April 2025
Angela Rieger, EVP/Chief Transformation Officer, notified Lands' End of retirement on Oct 2, 2024; effective April 15, 2025.
Board approved Second Amended and Restated Bylaws effective September 19, 2024.
Lands' End Q2 net loss narrows to $5.3M; gross margin up 470bps to 47.9%; raises FY profit guidance
Net revenue $317.2M, down from $323.3M; GMV up mid-single digits; gross profit up 8.8% to $151.9M.
Lands' End Q1 net revenue down 7.8% to $285.5M; gross margin expands 410 bps to 48.7%
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.
Lands' End stockholders elect all six director nominees, approve say-on-pay and auditor ratification
All six director nominees elected: Galvin, Leykum, Linden, McClain, McLean, Parker; each received >27.3M votes.
Lands' End dismisses BDO as auditor, appoints Deloitte & Touche
Dismissed BDO USA, P.C. effective April 4, 2024, with no disagreements on accounting principles or practices.
Lands' End Q4 gross margin up 550 bps; guides FY2024 adjusted EBITDA $84-96M
Q4 net revenue $514.9M (-2.8% YoY); gross profit +13.5% to $195.4M; gross margin 38.0% (vs 32.5%).
Lands' End authorizes $25M share repurchase program through March 2026
Board authorized up to $25M in share repurchases through March 31, 2026.
On January 22, 2025, the Board of Directors (the “Board”) of Lands’ End, Inc. (the “Company”) increased the number of directors of the Company from six to seven and elected Gordon Hartogensis to the Board, effective immediately.
On October 2, 2024, Angela Rieger, Executive Vice President, Chief Transformation Officer, notified Lands’ End, Inc. (the “Company”) that she will be retiring from the Company and resigning from all positions held with the Company and its subsidiaries, effective April 15, 2025.
Max materiality 0.90 · Median 0.62 · Most common event other_material