Lands' End, Inc. (LE) Tops Q2 Views

Lands' End, Inc. (NASDAQ: LE) reported Q2 EPS of $0.37, $0.20 better than the analyst estimate of $0.17. Revenue for the quarter came in at $347.2 million versus the consensus estimate of $333.06 million.

Edgar Huber, Lands' End's President and Chief Executive Officer, stated, "We are pleased with our second quarter results and our progress towards growing the business and building Lands' End into a global lifestyle brand. While the overall retail environment remained challenging, we continued to see positive customer response to our merchandising and marketing initiatives and remain focused on improving the contemporary relevance of the Lands' End brand. Improved merchandise assortment, modern creative presentation, better inventory management and continued expense controls all contributed to another quarter of strong sales and margin increases. In the second quarter, merchandise sales and services revenue increased 5.4% to $347.2 million while gross margin improved 310 basis points to 48.5% and operating income increased 37.6% to $25.3 million. Lands' End has now achieved double digit year-over-year Adjusted EBITDA growth for more than four consecutive quarters. We believe we are well positioned to continue executing against our strategic initiatives to drive long-term sales and earnings growth."

For earnings history and earnings-related data on Lands' End, Inc. (LE) click here.

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