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Lands' End’s fiscal third-quarter results miss analysts’ estimates
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Lands' End’s fiscal third-quarter results miss analysts’ estimates

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Lands' End headquarters, generic file photo, State Journal photo

Lands' End headquarters in Dodgeville.

Lands’ End Inc. on Thursday reported fiscal third-quarter results that missed analysts’ estimates.

The Dodgeville-based clothing maker said it had net income of $7.4 million, or 22 cents per share, on revenue of $375.8 million for the quarter ended Oct. 29.

MarketWatch reported that the FactSet consensus was for earnings of 21 cents per share and revenue of $398.0 million.

In the same period a year ago, Lands’ End posted net income of $7.2 million, or 22 cents per share, on revenue of $360 million.

For the current quarter ending in January, Lands’ End said it expects revenue in the range of $560 million to $575 million.

“We delivered encouraging results in the third quarter, given the challenging environment,” Lands’ End president Jim Gooch said in a statement. “We have taken numerous actions to expedite receipts, and despite supply chain delays, which negatively impacted our in-stock position and sales early in the fourth quarter, we recovered our in-stock position to historical levels heading into Cyber Week.”

The company said it expects full-year earnings to be $1.04 to $1.13 per share, with revenue ranging from $1.64 billion to $1.66 billion. The FactSet consensus is for earnings of $1.42 per share and revenue of $1.691 billion, MarketWatch said.

Lands’ End stock closed at $23.01 per share on Wednesday, but was down under $20 per share in the opening minutes on Thursday. The stock’s 52-week range is $17.64 to $44.40.

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