Quarterly ResultJun 9, 2026, 06:51 AM
Lands' End Q1 Revenue Down 8.5% Amid Operational Disruptions; WHP Deal Boosts Net Income
AI Summary
Lands' End, Inc. reported its first quarter fiscal 2026 financial results, with net revenue decreasing 8.5% to $238.9 million, primarily due to temporary disruptions from distribution center upgrades. The company reported a net income of $330.7 million ($10.56 per diluted share), significantly boosted by a gain from the WHP Global transaction. Adjusted net loss was $3.5 million ($0.11 per diluted share). The company provided its outlook for the second quarter and full fiscal year 2026, expecting net revenue between $290-$310 million for Q2 and $1.30-$1.40 billion for the full year. The company also highlighted the strengthening of its balance sheet through the repayment of its term loan.
Key Highlights
- Lands' End Q1 2026 net revenue was $238.9M, down 8.5% YoY, impacted by distribution center upgrades.
- Q1 2026 net income was $330.7M ($10.56/share), largely due to the WHP Global transaction gain.
- Adjusted net loss for Q1 2026 was $3.5M ($0.11/share), compared to $5.4M ($0.18/share) in Q1 2025.
- Europe eCommerce net revenue increased 14.5% to $20.5M in Q1 2026.
- Gross margin decreased 410 basis points to 46.7% in Q1 2026.
- Company expects Q2 2026 net revenue between $290M and $310M.
- Full year 2026 revenue guidance revised to $1.30B - $1.40B.
- Repaid term loan using proceeds from WHP Global transaction, strengthening balance sheet.
Price Impact
More from LE