Lands’ End, an American clothing retailer based in Dodgeville, Wisconsin, specializing in casual clothing, luggage, and home furnishings, reported net loss of US $ 94.8 million for its fourth quarter which ended on January 27, 2017, in comparison to net loss of US $ 39.5 million during the same period last year.
Adjusted net income for the quarter, excluding a previous US $ 173 million write-down of the Lands’ End trade name, was US $ 13 million, compared to adjusted net income of US $ 22.6 million during the final quarter of 2015. Revenue for the fourth quarter slipped 3.1 per cent to US $ 458.8 million from US $473.5 million during the same quarter previous year. Same-store sales of the brand dropped 1.7 per cent during the quarter.
According to Jerome Griffith, CEO, Lands’ End, the fourth quarter results improved due to merchandising, marketing and e-commerce initiatives. Net revenue for the quarter decreased to US $ 458.8 million from US $ 473.5 million in the prior fourth quarter, and net loss was US $ 94.8 million, in the above mention quarter of fiscal 2015.
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The US clothing retailer posted net loss of US $ 109.8 million in for in its full year financial report, compared to prior year’s US $ 19.5 million. Adjusted net loss for the company were US $ 2.1 million in comparison to previous year’s US $ 40.4 million. The brand has recorded the decline of US $ 1.34 billion, 5.6 per cent in revenue in comparison to US $ 1.42 billion in 2015.
