Lands' End (LE) Misses Q2 EPS by 3c, Beats on Revenues

Lands' End (NASDAQ: LE) reported Q2 EPS of ($0.12), $0.03 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $302 million versus the consensus estimate of $292.59 million.

Second Quarter Fiscal 2017 Highlights:

• Net revenue for the second quarter was $302.2 million as compared to $292.0 million in the second quarter last year. Direct segment net revenue increased 5.5% to $259.9 million, as compared to the same period last year. Retail segment net revenue decreased 7.4% to $42.2 million, as compared to the same period last year, primarily due to fewer Lands' End Shops at Sears. Same store sales for the quarter increased 3.8%.
• Gross margin was 44.4% as compared to 46.6% in the second quarter last year.
• Net loss was $3.9 million, or $0.12 per diluted share, as compared to Net loss of $2.0 million, or $0.06 per diluted share, in the second quarter of fiscal 2016.
• Adjusted EBITDA(1) was $6.8 million compared to $7.3 million in the second quarter of fiscal 2016.

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

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