Lands' End Q4 Loss Sharply Widens
(RTTNews) - Uni-channel retailer Lands' End, Inc. (LE) reported Wednesday that net loss for the fourth quarter widened to $8.62 million or $0.27 per share from $3.30 million or $0.10 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $0.25 per share, compared to adjusted net loss was $0.04 per share in the year-ago quarter.
Net revenue for the quarter decreased 2.8 percent to $514.85 million from $529.60 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share on revenues of $502.71 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the first quarter, the company projects a net loss in a range of $0.32 to $0.25 per share and adjusted loss in a range of $0.30 to $0.24 per share on net revenue between $255.0 million and $285.0 million.
For fiscal 2024, the company now projects earnings in a range of $0.03 to $0.32 per share and adjusted earnings in a range of $0.10 to $0.38 per share on net revenue between $1.33 billion and $1.45 billion.
Analysts expect the company to report earnings of $0.03 per share on revenues of $1.43 billion for the year.
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