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DODGEVILLE, Wis. - On Thursday, Lands’ End Inc. (NASDAQ:LE) reported better-than-expected first quarter earnings, despite revenue falling short of analyst estimates.
The apparel retailer saw its stock jump 9.36% in pre-market trading after the earnings release.
The company posted an adjusted loss of $0.18 per share for Q1, beating the consensus estimate for a loss of $0.19 per share. Revenue came in at $261.2 million, below expectations of $273.85 million and down 8.5% from $285.5 million in the same quarter last year.
Gross margin improved by approximately 210 basis points to 50.8%, compared to 48.7% in Q1 2024. The company said this was primarily driven by the impact of transitioning kids and footwear inventory to licensees.
"Our first quarter performance reflects solid results on both the top and bottom lines, including continued growth in GMV and Gross margin," said CEO Andrew McLean. He noted the company successfully executed its customer-centric strategy through creative engagement and expansion of the brand through licensing.
For fiscal 2025, Lands’ End reaffirmed its outlook, expecting revenue between $1.33 billion and $1.45 billion and adjusted earnings per share of $0.48 to $0.86.
The company also reported reducing inventory for the eighth consecutive quarter, with inventories down 9% year-over-year to $262.4 million.
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