Lands' End Lifts Annual Profit Guidance Despite Revenue Setbacks: Details
Portfolio Pulse from Lekha Gupta
Lands' End, Inc. (NASDAQ:LE) reported better-than-expected Q2 earnings, with net revenue of $317.2 million surpassing the consensus of $307.41 million. Despite a decrease in global eCommerce and Outfitters net revenue, the company saw a 23.4% increase in third-party net revenue. Gross profit rose by 8.8% due to improved product solutions and reduced promotional activity. Lands' End raised its annual profit guidance, expecting adjusted EPS of $0.29 – $0.48, up from $0.18 – $0.41. The company also repurchased $3.7 million of its stock and plans further buybacks. LE shares rose 1.46% following the announcement.
September 05, 2024 | 3:16 pm
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Lands' End reported Q2 earnings that exceeded expectations, with net revenue of $317.2 million and a smaller-than-expected adjusted loss per share. The company raised its annual profit guidance and saw a 1.46% increase in share price. Despite some revenue setbacks, gross profit increased by 8.8%, driven by improved product solutions and reduced promotional activity.
Lands' End's Q2 earnings exceeded expectations, leading to a positive market reaction with a 1.46% increase in share price. The company's ability to raise its annual profit guidance despite revenue setbacks indicates strong operational efficiency and cost management, which is likely to positively impact investor sentiment in the short term.
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