Lands' End Files 10-Q: Financials and Operations Update
Ticker: LE · Form: 10-Q · Filed: Sep 5, 2024 · CIK: 799288
| Field | Detail |
|---|---|
| Company | Lands' End, INC. (LE) |
| Form Type | 10-Q |
| Filed Date | Sep 5, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, retail
TL;DR
Lands' End 10-Q filed. Financials look steady, watch for Q3 trends.
AI Summary
Lands' End, Inc. filed its 10-Q for the period ending August 2, 2024. The filing details financial performance and operational updates. Key financial figures and strategic initiatives are presented, reflecting the company's ongoing business activities and market position.
Why It Matters
This filing provides investors and analysts with the latest financial health and strategic direction of Lands' End, crucial for understanding its current market performance and future prospects.
Risk Assessment
Risk Level: medium — The filing is a routine 10-Q, but the retail sector faces ongoing economic uncertainties and competitive pressures.
Key Numbers
- N/A — Revenue (Specific revenue figures for the quarter are not detailed in the provided snippet.)
- N/A — Net Income (Specific net income figures for the quarter are not detailed in the provided snippet.)
- N/A — Earnings Per Share (Specific EPS figures for the quarter are not detailed in the provided snippet.)
Key Players & Entities
- LANDS' END, INC. (company) — Filer of the 10-Q
- 20240802 (date) — End of the reporting period
- DODGEVILLE, WI (location) — Company headquarters
FAQ
What was the total revenue for Lands' End in the reported quarter?
The provided snippet does not contain specific revenue figures for the quarter ending August 2, 2024.
What is the company's net income for the period ending August 2, 2024?
Specific net income details are not present in the provided text.
Are there any significant changes in the company's debt structure mentioned?
The snippet mentions 'CurrentTermLoanFacilityMember' and 'EightPointZer', suggesting details about debt, but specific amounts or changes are not elaborated.
What is the company's fiscal year end date?
The company's fiscal year ends on January 27th.
When was the company formerly known as LAND'S END, INC. last renamed?
The company was formerly known as LAND'S END, INC. and the date of name change was May 27, 2014.
Filing Stats: 4,488 words · 18 min read · ~15 pages · Grade level 15.5 · Accepted 2024-09-05 16:45:36
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share LE The Nasdaq Stock Marke
Filing Documents
- le-20240802.htm (10-Q) — 2045KB
- le-ex31_1.htm (EX-31.1) — 14KB
- le-ex31_2.htm (EX-31.2) — 14KB
- le-ex32_1.htm (EX-32.1) — 11KB
- 0000950170-24-104054.txt ( ) — 8272KB
- le-20240802.xsd (EX-101.SCH) — 1104KB
- le-20240802_htm.xml (XML) — 1525KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive Operations 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Changes in Stockholders' Equity 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.
Controls and Procedures
Controls and Procedures 34
OTHER INFORMATION
PART II. OTHER INFORMATION 35 Item 1.
Legal Proceedings
Legal Proceedings 35 Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 5. Other Information 37 Item 6. Exhibits 38
Signatures
Signatures 39 Table of Contents
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
FINANCI AL STATEMENTS
ITEM 1. FINANCI AL STATEMENTS LANDS' END, INC. Condensed Consolidated St atements of Operations (Unaudited) 13 Weeks Ended 26 Weeks Ended (in thousands, except per share data) August 2, 2024 July 28, 2023 August 2, 2024 July 28, 2023 Net revenue $ 317,173 $ 323,363 $ 602,644 $ 632,921 Cost of sales (exclusive of depreciation and amortization) 165,288 183,766 311,779 355,387 Gross profit 151,885 139,597 290,865 277,534 Selling and administrative 135,510 123,866 262,911 242,380 Depreciation and amortization 8,692 9,543 17,697 18,844 Other operating expense, net 5,197 390 5,538 592 Operating income 2,486 5,798 4,719 15,718 Interest expense 10,447 12,024 20,783 24,307 Other (income), net ( 84 ) ( 169 ) ( 172 ) ( 356 ) Loss before income taxes ( 7,877 ) ( 6,057 ) ( 15,892 ) ( 8,233 ) Income tax (benefit) expense ( 2,626 ) 1,961 ( 4,199 ) 1,437 NET LOSS $ ( 5,251 ) $ ( 8,018 ) $ ( 11,693 ) $ ( 9,670 ) NET LOSS PER COMMON SHARE Basic: $ ( 0.17 ) $ ( 0.25 ) $ ( 0.37 ) $ ( 0.30 ) Diluted: $ ( 0.17 ) $ ( 0.25 ) $ ( 0.37 ) $ ( 0.30 ) Basic weighted average common shares outstanding 31,376 32,117 31,407 32,280 Diluted weighted average common shares outstanding 31,376 32,117 31,407 32,280 See accompanying Notes to Condensed Consolidated Financial Statements. 1 Table of Contents LANDS' END, INC. Condensed Consolidated Statemen ts of Comprehensive Operations (Unaudited) 13 Weeks Ended 26 Weeks Ended (in thousands) August 2, 2024 July 28, 2023 August 2, 2024 July 28, 2023 NET LOSS $ ( 5,251 ) $ ( 8,018 ) $ ( 11,693 ) $ ( 9,670 ) Other comprehensive income (loss), net of tax Foreign currency translation adjustments 299 700 ( 214 ) 781 COMPREHENSIVE LOSS $