Lands’ End recently reported that second-quarter sales slightly declined to US $ 317.2 million, down from US $ 323.3 million in the same period of fiscal 2023. However, losses narrowed during the three months ending 2nd August.
The US heritage retailer revealed that global e-commerce revenue decreased to US $ 211.3 million, compared to US $ 218.7 million in the prior-year quarter. US e-commerce sales dropped 3.9 per cent to US $ 188.3 million, mainly due to the transition of kids’ and footwear products from direct sales to a licensing model, along with reduced promotional activity.
International e-commerce revenue, however, saw a 0.9 per cent increase, driven by higher full-price sales and fewer discounts. Net revenue for the Outfitters segment fell by 7.1 per cent to US $ 63.2 million, while third-party revenue grew 23.4 per cent to US $ 30.1 million, bolstered by licensing and wholesale deals.
Despite the slight decline in sales, the company reduced its net loss to US $ 5.3 million compared to a net loss of US $ 8 million in the same quarter last year.
“Our strong second-quarter performance demonstrates that our solutions-based strategy is paying off,” said Andrew McLean, CEO of Lands’ End. “By focusing on innovation, we are evolving the Lands’ End brand, attracting new customers, and improving our supply chain and inventory management. These efforts are driving growth, efficiency, and delivering value to both customers and shareholders.”
For fiscal 2024, the company projects revenue to range between US $ 1.35 billion and US $ 1.43 billion, with net income between US $ 5.0 million and US $ 11.0 million.
