Highest-materiality recent filing
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 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 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 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 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 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 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 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 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%).
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