LE - Lands' End GAAP EPS of -$0.05 beats by $0.08 revenue of $309.56M beats by $8.34M

2023-06-01 06:49:38 ET

• Lands' End press release ( NASDAQ: LE ): Q1 GAAP EPS of -$0.05 beats by $0.08 .
• Revenue of $309.56M (+1.9% Y/Y) beats by $8.34M .
• Global eCommerce net revenue was $203.1 million, a decrease of 7.3% from $219.1 million in the first quarter of fiscal 2022.
• Outfitters net revenue was $74.0 million, an increase of 37.1% from $54.0 million in the first quarter of fiscal 2022, primarily driven by inventory sales to Delta Air Lines in connection with the conclusion of their five-year contract.

• For the second quarter of fiscal 2023 the Company expects:

  • Net revenue to be between $320.0 million and $335.0 million.
  • Net loss to be between $4.5 million and $2.0 million and diluted loss per share to be between $0.14 and $0.06.
  • Adjusted EBITDA in the range of $15.0 million to $18.0 million.

  For fiscal 2023 the Company now expects:

  • Net revenue to be between $1.56 billion and $1.62 billion.
  • Net (loss) income to be between $(4.5) million and $2.5 million, and diluted (loss) earnings per share to be between $(0.13) and $0.08.
  • Adjusted EBITDA in the range of $75.0 million to $84.0 million.
  • Capital expenditures of approximately $35.0 million.

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