Lands’ End, Inc. THE Shares are trading higher on Wednesday.
The company reported fourth-quarter adjusted earnings per share of 25 cents, beating Wallstreet’s forecast of 21 cents.
For the fourth quarter, net revenue fell 2.8% to $514.9 million, beating the analyst consensus of $502.71 million.
Global eCommerce net revenue was $404.9 million, down 2.3% year over year.
Outfitters’ net revenue was $53.7 million, down 11.3% year-over-year. Third-party net revenue was $40.5 million, an increase of 3.3% year-over-year.
Check it: Why is NIO stock trading down today?
Quarterly gross profit increased 13.5% year over year to $195.4 million. Gross margin increased approximately 550 basis points to 38%.
Margins in the quarter were driven by new brand products, strength in transitional outerwear and adjacent product categories, reduced sales of liquidation inventory and improved supply chain costs.
Cash and cash equivalents were $25.3 million as of February 2, 2024, compared to $39.6 million as of January 27, 2023.
View: Lands’ End expects first-quarter revenue of $255-285 million compared to its estimate of $283.97 million. The company expects first quarter adjusted loss per share of $(0.30) – $(0.24) versus estimate of $(0.12).
Lands’ End expects fiscal year 24 revenues of $1.33-1.45 billion versus estimate of $1.431 billion and expects adjusted earnings per share of $0.10-$0.38 versus estimate of $0.04.
Price Action: LE shares were trading 13.98% higher at $10.60 on Wednesday, at last check.