Lands' End posts higher profit, growth in e-commerce
Stock has more than doubled in the last 12 month
DODGEVILLE, Wis. -- Lands' End Inc. on Thursday reported fiscal third-quarter net income of $7.2 million.
LANDS' END CEO: PRIORITY IS TO KEEP OUR EMPLOYEES SAFE FROM VIOLENCE, CORONAVIRUS
The Dodgeville, Wisconsin-based company said it had net income of 22 cents per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LE | LANDS END | 16.11 | -0.26 | -1.59% |
The clothing maker posted revenue of $360 million in the period. Global e-commerce revenue grew 19.6% compared to the same period a year ago.
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For the current quarter ending in January, Lands' End said it expects revenue in the range of $500 million to $520 million.
“We were very pleased with our third quarter performance," Lands' End CEO Jerome Griffith said in a statement. "Our teams executed at an exceptional level to achieve strong results despite the challenges created by COVID-19.
Griffith added: "The investments we put toward leveraging data analytics to inform our strategies around product, eCommerce and marketing continued to pay dividends in driving growth in new customers and strong retention rates."
Lands' End shares have climbed 49% since the beginning of the year. The stock has more than doubled in the last 12 months.
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