Lands' End Shares In Freefall After Q2 Earnings Miss, Gloomy Q3 Outlook
Portfolio Pulse from Shivani Kumaresan
Lands' End Inc (NASDAQ:LE) reported a Q2 FY23 sales decline of 7.9% YoY to $323.3 million, missing the analyst consensus estimate of $328.2 million. The company's global eCommerce revenue decreased 8.7% YoY to $218.7 million. The company also reported a gloomy Q3 outlook, with projected sales of $340 million - $355 million against an estimate of $390 million. Following the announcement, LE shares fell by 21.3%.
August 31, 2023 | 2:36 pm
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Lands' End reported lower than expected Q2 FY23 sales and a gloomy Q3 outlook, leading to a 21.3% drop in share price.
Lands' End reported lower than expected Q2 FY23 sales and a gloomy Q3 outlook. This negative news is likely to have a direct impact on the company's stock price, as it indicates potential future financial difficulties for the company.
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