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Lands' End Reports Q2 Earnings Beat.

Byline: Tanzeel Akhtar

Lands' End (NASDAQ: LE) reported second-quarter losses of 9 cents per share, which beat the analyst consensus estimate by 10 cents.

The company reported quarterly sales of $298.3 million, which beat the analyst consensus estimate of $289.54 million. This is a 3.13% decrease over sales of $307.945 million the same period last year.

"We were pleased to have delivered sales and net income above our expectations and adjusted EBITDA at the high end of our range, illustrating the strong progress we are making across our strategic initiative," said Jerome Griffith, CEO of Lands' End. "We are also very pleased with our retail expansion strategy with U.S. stores operating at or above expectations. Looking ahead, we remain committed to the continued advancements of our growth strategies centered on getting the product right, operating as a digitally-led company, executing a uni-channel strategy and improving business processes and infrastructure.

"We believe the execution of these strategies positions us to achieve double-digit EBITDA growth annually beginning in fiscal 2020 and puts us on track to achieve our stated long-term financial objectives."

Lands' End shares were trading up 8.43% at $7.85. The stock has a 52-week high of $27.40 and a 52-week low of $7.15.

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Publication:Benzinga.com
Article Type:Financial report
Date:Sep 5, 2019
Words:306
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