March 01, 2015 6:11 AM ET

Internet and Catalog Retail

Company Overview of Lands' End, Inc.

Company Overview

Lands’ End, Inc. operates as a multi-channel retailer primarily in the United States, Europe, and Asia. The company operates through two segments, Direct and Retail. It offers men’s, women’s, and kids’ apparel, outerwear, and swimwear; specialty apparel; accessories; footwear; and home products. The company sells its products through e-commerce Websites, direct mail catalogs, phone, or in-store computer kiosks, as well as standalone and dedicated stores. Lands’ End, Inc. was founded in 1963 and is based in Dodgeville, Wisconsin. Lands' End, Inc. (NasdaqCM:LEDM.V) operates independently of Sears Holdings Corporation as of April 04, 2014.

1 Lands' End lane

Dodgeville, WI 53595

United States

Founded in 1963

6,400 Employees

Phone:

608-935-9341

Fax:

800-332-0103

Key Executives for Lands' End, Inc.

Chief Financial Officer, Chief Operating Officer, Executive Vice President and Treasurer
Age: 51
Total Annual Compensation: $563.5K
Senior Vice President of Employee & Customer Services
Age: 51
Total Annual Compensation: $355.9K
Chief Merchandising Design Officer and Executive Vice President
Age: 50
Total Annual Compensation: $325.0K
Compensation as of Fiscal Year 2013.

Lands' End, Inc. Key Developments

Lands' End, Inc. Announces Executive Changes

Lands' End, Inc. announced that its board of directors has named Federica Marchionni as Chief Executive Officer. Ms. Marchionni comes to Lands' End from her role as President of Dolce&Gabbana USA Inc. She will succeed Edgar Huber, who is resigning from the company. Ms. Marchionni will assume the CEO position at Lands' End and join the Company's Board of Directors on February 17, 2015, following the completion of her professional commitments to Dolce&Gabbana. Mr. Huber will remain as CEO to assist in the transition process until Ms. Marchionni joins the company.

Lands' End, Inc. Provides Preliminary Earnings Guidance for the Fourth Quarter and Fiscal Year Ending January 30, 2015

Lands' End, Inc. provided preliminary earnings guidance for the fourth quarter and fiscal year ending January 30, 2015. For the fourth quarter, the company merchandise sales and services, net are expected to be between $505 million and $515 million, a decrease of 3% to 5% from $530 million in the fourth quarter of fiscal 2013. Gross margin is expected to be between 43.8% and 44.0% compared to 43.7% in the fourth quarter of fiscal 2013. This 10 to 30 basis point expected improvement in the fourth quarter of fiscal 2014 is on top of the 390 basis point increase in the fourth quarter of fiscal 2013. The expected increase in Gross margin is driven by an increase in the Direct segment, partially offset by a decrease in the Retail segment. Net income is expected to decrease 20% to 26% to between $34 million and $37 million and diluted earnings per share is expected to be $1.06 to $1.16 compared with $45.9 million and $1.44, respectively, in the fourth quarter of fiscal 2013. Interest, incentive compensation, and stand-alone public company costs are expected to be between $9 and $10 million pretax and between $5 and $6 million after tax in the fourth quarter of fiscal 2014 compared with no interest, incentive compensation, and stand-alone public company costs in the fourth quarter of fiscal 2013. Adjusted EBITDA is expected to be in the range of $66 million to $71 million, compared to $80.1 million in the fourth quarter of fiscal 2013. For the full year fiscal 2014, the company merchandise sales and services, net are anticipated to be $1.56 billion to $1.57 billion, adjusted EBITDA is expected to be $160 million to $165 million and net income is expected to be $74.5 million to $77.5 million. This compares with Merchandise sales and services, net, adjusted EBITDA and net income of $1.56 billion, $150 million and $78.8 million, respectively, in fiscal 2013. Fiscal 2014 Gross margin is expected to exceed prior year Gross margin by 175 to 185 basis points. Interest, incentive compensation, and stand-alone public company costs are expected to be between $39 million and $40 million pretax and $24 million to $25 million after tax in fiscal 2014 compared with no interest or stand-alone costs and $0.7 million pretax and $0.4 million after tax incentive costs in fiscal 2013.

Lands' End, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 31, 2014

Lands' End, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2014. For the quarter, the company reported revenues merchandise sales and services net of $373,082,000 against $383,851,000 a year ago. Operating income increased 50.8% to $35.1 million from $23.3 million in the third quarter of 2013. Income before income taxes was $29,411,000 against $23,281,000 a year ago. Net income increased 26.0% to $18.0 million and basic and diluted earnings per share increased 24.4% to $0.56 compared with net income of $14.3 million and basic and diluted earnings per share of $0.45 per basic and diluted share, in the third quarter of 2013. Adjusted EBITDA increased 39.9% to $39.9 million from $28.5 million in the third quarter of 2013. For the nine months, the company reported revenues merchandise sales and services net of $1,050,787,000 against $1,032,447,000 a year ago. Operating income was $79,190,000 against $53,618,000 a year ago. Income before income taxes was $65,713,000 against $53,651,000 a year ago. Net income was $40,704,000 against $32,904,000 a year ago. Basic and diluted earnings per share were $1.27 against $1.03 per share a year ago. Adjusted EBITDA was $93,864,000 against $69,930,000 a year ago. Net cash provided by operating activities was $85,558,000 against net cash used in operating activities of $10,946,000 a year ago. Purchases of property and equipment were $11,141,000 against $3,629,000 a year ago.

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