Lands' End (LE) Posts Surprise Q1 Net Loss
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Lands' End Announces First Quarter Fiscal 2016 Results
June 1, 2016 6:45 AM EDTDODGEVILLE, Wis., June 01, 2016 (GLOBE NEWSWIRE) -- Lands' End, Inc. (NASDAQ: LE) today announced financial results for the first quarter ended April 29, 2016.
First Quarter Fiscal 2016 Highlights:
Net revenue was $273.4 million as compared to $299.4 million in the first quarter last year. Direct segment net revenue decreased 8.4% to $232.2 million. Retail segment net revenue decreased 10.4% to $41.2 million primarily driven by a 7.1% decrease in same store sales and a reduction in the number of Lands' End Shops at Sears.Gross margin was 47.4% as compared to... More