Loss at Lands’ End GrowsThe specialty retailer continues to close its shops inside Sears while opening freestanding stores.

[Collection]Lands’ End reported that its net loss in the second quarter grew to $5.3 million, or 16 cents a diluted share, from $3.9 million, or 12 cents, in the year-ago period. The all-American specialty retailer also saw a same-store sales decline of 5.8 percent. The declines, coming in a season where most retailers are on a roll, dragged Lands’ End stock price down nearly 20 percent, or $4.80, to $20.25 after the results were issued Thursday morning. On the positive side, adjusted earnings before interest, taxes, depreciation and appreciation grew 13.1 percent to $7.7 million, compared to $6.8 million in the second quarter of fiscal 2017. Total revenues increased 1.9 percent to $307.9 million in the quarter from $302.2 million in the second quarter last year. Gross margin reached 44.4 percent, up slightly compared to the second quarter last year. Direct segment net revenue increased 6.4 percent to $276.6 million. The retail segment decreased 25.8 percent to $31.3 million, primarily attributable to closing 57 Lands’ End shops inside Sears stores and the overall same-store sales decline of 5.8 percent. Same-store sales in Lands’ End Shops at Sears declined 6.7 percent while same-store sales at company-operated stores declined 0.6 percent. Turnaround efforts at Lands’ End largely revolves around

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