Last10K.com

Lands' End, Inc. (LE) SEC Filing 10-Q Quarterly Report for the period ending Friday, October 29, 2021

Lands' End, Inc.

HISTORY TOOLS
CIK: 1836274 Ticker: LE

Exhibit 99.1

 

 

Lands’ End Announces Third Quarter Fiscal 2021 Results

 

Net Revenue grew 4.4% compared to the same period last year

Net Income of $7.4 million, compared to a Net Income of $7.2 million in the same period last year

Adjusted EBITDA of $29.8 million at the high-end of outlook

Cyber Week Sales Increased High Single Digits over 2020

 

DODGEVILLE, Wis., December 2, 2021

(GLOBE NEWSWIRE) – Lands’ End, Inc. (NASDAQ: LE) today announced financial results for the third quarter ended October 29, 2021 and sales results for Cyber Week, and provided fourth quarter and an updated full year outlook.

 

Jerome Griffith, Chief Executive Officer, stated, “Our third quarter performance reflects the long-term strength and resiliency of our digitally led business model, as we navigated the dynamic global supply chain challenges while still delivering on our Adjusted EBITDA expectations. We achieved 4% topline growth in the third quarter, contributing to our 22% growth year-to-date. Our topline expansion drove Adjusted EBITDA at the high end of our outlook and growth of 129% year-to-date. For Cyber Week, which just concluded, our sales increased high single digits as a result of strong demand online and in store and our improved in-stock positions. We believe that the strong operating platform we have established combined with the ongoing progress across our four strategic growth pillars, including product, digital, uni-channel distribution and infrastructure, position us to drive growth over the next several years. We look forward to providing an update on our long-term goals in mid-January.”

 

Fiscal Third Quarter Financial Highlights:

 

 

•

For the third quarter, net revenue was $375.8 million, an increase of 4.4% from $360.0 million in the third quarter of fiscal 2020 and an increase of 10.5% from $340.0 million in the third quarter of fiscal 2019.

 

◦

Global eCommerce net revenue was $261.2 million, a decrease of 6.0% from $277.8 million in the third quarter of fiscal 2020 as a result of inventory constraints driven by supply chain challenges and an increase of 9.3% from $238.9 million in the third quarter of fiscal 2019. Compared to the third quarter of last year, U.S. eCommerce decreased 3.5% and International eCommerce decreased 15.7%. Compared to the third quarter of fiscal 2019, U.S. eCommerce increased 6.0% and International eCommerce increased 27.6%.

 

◦

Outfitters net revenue was $86.1 million, an increase of 38.9% from $62.0 million in the third quarter of fiscal 2020 and an increase of 3.4% compared to the third quarter of fiscal 2019. Compared to the third quarter last year, the increase was driven by stronger demand within the Company’s travel-related national accounts and school uniform customers.

 

◦

Third Party net revenue, which includes sales on third-party marketplaces and U.S. wholesale revenues, was $19.3 million in the third quarter compared to $12.0 million in the third quarter last year.  The $7.3 million increase was primarily attributable to growth in our Kohl’s partnership, including an expansion to 300 locations during the quarter, compared to 150 retail locations in third quarter 2020.

 

 

•

Gross margin was 44.4%, decreasing approximately 100 basis points compared to 45.4% in the third quarter of fiscal 2020. The Gross margin decrease was driven by increased shipping costs.

 

 

•

Selling and administrative expenses increased $2.5 million to $137.4 million or 36.6% of net revenue, compared to $134.9 million or 37.5% of net revenue, in the third quarter of last year. The approximately 90 basis point decrease was the result of leverage on higher sales and continued expense controls slightly offset by continued

 

The following information was filed by Lands' End, Inc. (LE) on Thursday, December 2, 2021 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter 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-Q Quarterly 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 2021 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
Financial
Revenue
Legal
M & A
Other
Filter Subcategory:
All
Debt
Earnings
Product
Expense
Income
Other
Inside Lands' End, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Stockholders' Equity
Condensed Consolidated Statements Of Comprehensive Operations
Condensed Consolidated Statements Of Operations
Background And Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Company's Long Term Debt (Details)
Debt - Summary Of Company's Borrowing Availability Under Abl Facility (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Additional Information (Details)
Earnings (Loss) Per Share - Schedule Of Components Of Basic And Diluted Eps (Details)
Fair Value Measurements Of Financial Assets And Liabilities
Fair Value Measurements Of Financial Assets And Liabilities (Tables)
Fair Value Measurements Of Financial Assets And Liabilities - Additional Information (Details)
Fair Value Measurements Of Financial Assets And Liabilities - Schedule Of Carrying Values And Fair Values Of Long-Term Debt, Including Current Portion (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Other Comprehensive (Loss)
Other Comprehensive (Loss) (Tables)
Other Comprehensive (Loss) - Additional Information (Details)
Other Comprehensive (Loss) - Schedule Of Other Comprehensive (Loss) (Details)
Other Comprehensive (Loss) - Schedule Of Other Comprehensive (Loss) (Parenthetical) (Details)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Policies)
Recent Accounting Pronouncements - Additional Information (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Disaggregated Of Revenue By Geographic Location (Details)
Revenue - Reconciliation Of Gift Card Contract Liability (Details)
Revenue - Summary Of Deferred Revenue (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Additional Information (Details)
Segment Reporting - Summary Of Net Revenue By Distribution Channel (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Summary Of Deferred Awards Activity (Details)
Stock-Based Compensation - Summary Of Options Award Activity (Details)
Stock-Based Compensation - Summary Of Performance Awards Activity (Details)
Stock-Based Compensation - Summary Of Performance Awards Activity (Parenthetical) (Details)
Stock-Based Compensation - Summary Of Stock-Based Compensation Expense (Details)

Material Contracts, Statements, Certifications & more

Lands' End, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: LE
CIK: 799288
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-21-059169
Submitted to the SEC: Thu Dec 02 2021 4:17:26 PM EST
Accepted by the SEC: Thu Dec 02 2021
Period: Friday, October 29, 2021
Industry: Retail Family Clothing Stores

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/le/0001564590-21-059169.htm