Land's End stock rises on narrower loss, revenue beat

By Steve Gelsi

Clothing brand marks sixth straight quarter of gross margin growth

Land's End Inc.'s stock was up 3.5% on Thursday after the clothing maker posted a narrower loss and beat the analyst estimate for revenue in the second quarter.

Land's End (LE) said its loss for the three months ended Aug. 2 fell to $5.25 million, or 17 cents a share, from a loss of $8.02 million, or 25 cents a share, in the year-ago quarter.

The company's adjusted loss of 2 cents a share came in ahead of the FactSet consensus estimate for a loss of 10 cents a share.

Second-quarter revenue fell to $317.17 million from $323.36 million in the year-ago period, but beat the analyst estimate of $307.5 million.

Financial Chief Bernie McCracken said the company was pleased with its performance, which included its sixth straight quarter of gross margin expansion.

Looking ahead, Land's End expects third quarter adjusted profit of 0 cents a share and up to 10 cents a share, while analysts are looking for adjusted earnings of 6 cents a share.

Including Thursday's moves, Land's End stock has risen 63.6% in 2024, well above the 15.9% rise by the S&P 500 SPX.

-Steve Gelsi

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09-05-24 0955ET

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