Lands' End +6% after earnings topper
Seeking Alpha
Published Jun 12, 2018 07:06AM ET
Lands' End +6% after earnings topper
- Shares of Lands' End (NASDAQ:LE) jump in premarket action after the retailer narrowed its FQ1 loss.
- Adjusted EBITA improved to $9M from $1.3M, despite a sharp drop in same-store sales due to fewer Lands' End Shops at Sears.
- Gross margin fell 130 bps to 44.4% of sales.
- CEO update: "Our first quarter results represent the fourth straight quarter of top line growth and third quarter of profitability growth, demonstrating the continued progress we have made across our strategic initiatives. We saw excellent growth in our uniform business with the successful launch of our Delta Airline business."
- Lands' End ended the quarter with cash of $142M and long-term debt of $485M.
- Lands' End is up 6.38% on light premarket volume after gaining 6.58% yesterday.
- Previously: Lands' End beats by $0.09, beats on revenue (June 12)
- Now read: EVINE Live Inc. 2018 Q1 - Results - Earnings Call Slides
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