Last10K.com

Lands' End, Inc. (LE) SEC Filing 10-K Annual report for the fiscal year ending Friday, January 27, 2017

Lands' End, Inc.

HISTORY TOOLS
CIK: 1836274 Ticker: LE
Exhibit 99.1



Lands' End Announces Fourth Quarter and Fiscal 2016 Results

DODGEVILLE, Wis., March 21, 2017 (GLOBE NEWSWIRE) - Lands' End, Inc. (NASDAQ: LE) today announced financial results for the fourth quarter and fiscal year ended January 27, 2017.

Fourth Quarter Fiscal 2016 Highlights:

•
Net revenue for fourth quarter 2016 was $458.8 million as compared to $473.5 million in the fourth quarter last year. Direct segment net revenue decreased 2.6% to $398.5 million, as compared to the same period last year. Retail segment net revenue decreased 6.3% to $60.3 million, as compared to the same period last year, primarily due to fewer Lands' End Shops at Sears and a 1.7% decrease in same store sales.

•
Gross margin for fourth quarter 2016 was 38.6% as compared to 42.0% in the fourth quarter last year. During the quarter, the Company wrote down $2.3 million of prior-season inventory from the Company's Canvas by Lands' End brand, which had a 50 basis point negative impact on gross margin.

•
Net loss for fourth quarter 2016 was $94.8 million, or $2.96 per share, compared to a net loss of $39.5 million, or $1.23 per share in the fourth quarter of fiscal 2015.

•
Adjusted net income(1) for fourth quarter 2016, excluding a $173.0 million ($107.8 million after-tax) non-cash impairment charge related to the write-down of the Lands’ End trade name, an indefinite-lived intangible asset, was $13.0 million, or $0.41 per share. For the fourth quarter of fiscal 2015, Adjusted net income(1), excluding a $98.3 million ($62.0 million after-tax) non-cash impairment charge related to the write-down of the Lands' End trade name was $22.6 million, or $0.71 per share.

•
Adjusted EBITDA(2) was $30.7 million for fourth quarter 2016 compared to $48.1 million for fourth quarter fiscal 2015.

Full Year Fiscal 2016 Highlights:

•
Net revenue for fiscal 2016 was $1.34 billion as compared to $1.42 billion in fiscal 2015. Direct segment net revenue decreased 5.4% to $1.15 billion. Retail segment net revenue decreased 8.9% to $186.4 million due to a 6.0% decrease in same store sales and a reduction in the number of Lands' End Shops at Sears.

•
Gross margin for fiscal 2016 was 43.2% this year as compared to 46.0% last year. During the third and fourth quarters of fiscal 2016, the Company wrote down a total of $6.7 million of prior-season inventory from the Company's Canvas by Lands' End brand, which had a 50 basis point negative impact on gross margin.

•
Net loss for fiscal 2016 was $109.8 million, or $3.43 per share, as compared to net loss of $19.5 million, or $0.61 per share, for the same period last year. Net loss for fiscal 2016 also included $1.2 million in non-recurring personnel costs, net of reversals, primarily related to the departure of the Company's former Chief Executive Officer.

•
Adjusted net loss(1) for fiscal 2016, excluding a $173.0 million ($107.8 million after-tax) non-cash impairment charge related to the Lands’ End trade name and the final reversal of the product recall accrual ($0.2 million), was $2.1 million, or $0.06 per share. Adjusted net income(1), excluding a $98.3 million ($62.0 million after-tax) non-cash impairment charge related to the write-down of the Lands' End trade name and the $3.4 million ($2.1 million after-tax) benefit from the reversal of a product recall accrual, was $40.4 million, or $1.26 per share for fiscal 2015.



The following information was filed by Lands' End, Inc. (LE) on Tuesday, March 21, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Lands' End, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Lands' End, Inc..

Continue

Assess how Lands' End, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Lands' End, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
Financial
Other
Filter Subcategory:
All
Product
Expense
Earnings
Debt
Cash Flow
Geography
Income
Dividend
Shares
Other
Inside Lands' End, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated And Combined Balance Sheets
Consolidated And Combined Balance Sheets (parenthetical)
Consolidated And Combined Statements Of Cash Flows
Consolidated And Combined Statements Of Changes In Shareholders' Equity
Consolidated And Combined Statements Of Comprehensive Income Statement
Consolidated And Combined Statements Of Operations
Background And Basis Of Presentation
Background And Basis Of Presentation (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt
Debt (details)
Debt (tables)
Debt - Schedule Of Aggregate Maturities (details)
Debt Abl Facility (details)
Debt Borrowing Availability (details)
Debt Long Term Debt (details)
Fair Value Of Financial Assets And Liabilities
Fair Value Of Financial Assets And Liabilities (details)
Fair Value Of Financial Assets And Liabilities (tables)
Fair Value Of Financial Assets And Liabilities - Carrying And Fair Values Of Financial Instruments (details)
Fair Value Of Financial Assets And Liabilities Intangible Impairment Loss - Unobservable Inputs (level 3) (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Schedule Of Amortization Expense (details)
Goodwill And Intangible Assets - Schedule Of Goodwill And Intangible Assets (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (details)
Income Taxes - Narrative (details)
Income Taxes - Reconciliation Of Effective Tax Rate (details)
Income Taxes - Summary Of Unrecognized Tax Benefits (details)
Income Taxes - Summary The Components Of Income Tax Provision (details)
Income Taxes Income Taxes - Summary Of Income Before Income Taxes (details)
Leases
Leases (details)
Leases (tables)
Other Current Liabilities
Other Current Liabilities (details)
Other Current Liabilities (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Related Party Agreements And Transactions
Related Party Agreements And Transactions (details)
Related Party Agreements And Transactions (tables)
Related Party Agreements And Transactions - Details Of General Corporate Services (details)
Related Party Agreements And Transactions - Details Of Use Of Intellectual Property Or Services (details)
Related Party Agreements And Transactions - Schedule Of Related Party Costs (details)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Segment Reporting - Details By Product Category, Segment And Geographic Region (details)
Stock-based Compensation
Stock-based Compensation (details)
Stock-based Compensation (tables)
Stock-based Compensation - Schedule Of Stock-based Compensation Expense (details)
Stock-based Compensation - Schedule Of Unvested Stock Award Activity (details)
Subsequent Event (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Allowance For Doubtful Accounts (details)
Summary Of Significant Accounting Policies - Narrative (details)
Summary Of Significant Accounting Policies - Revenue Recognition (details)
Summary Of Significant Accounting Policies - Summary Of Earnings Per Share (details)
Summary Of Significant Accounting Policies - Summary Of Other Comprehensive Income (loss) (details)
Summary Of Significant Accounting Policies - Summary Of Plant And Equipment (details)
Ticker: LE
CIK: 799288
Form Type: 10-K Annual Report
Accession Number: 0000799288-17-000041
Submitted to the SEC: Fri Mar 31 2017 4:50:02 PM EST
Accepted by the SEC: Fri Mar 31 2017
Period: Friday, January 27, 2017
Industry: Retail Family Clothing Stores

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/le/0000799288-17-000041.htm