LE - Lands' End reports mixed Q4 earnings; initiates Q1 and FY23 outlook

March, 16 2023 06:51 AM Lands' End Inc.

2023-03-16 06:51:08 ET

Lands' End press release ( NASDAQ: LE ): Q4 GAAP EPS of -$0.10 misses by $0.14 .
Revenue of $529.6M (-4.6% Y/Y) beats by $10.77M .
Adjusted EBITDA was $24.2 million compared to $27.3 million in the fourth quarter of fiscal 2021.
Gross margin decreased approximately 340 basis points to 32.5% as compared to 35.9% in the fourth quarter of fiscal 2021.
Outlook: For the first quarter of fiscal 2023 the Company expects: Net revenue to be between $295.0 million and $310.0 million vs. consensus of $289.80M. Net loss to be between $5.0 million and $3.0 million and diluted loss per share to be between $0.15 and $0.09 vs. consensus of -$0.31. Adjusted EBITDA in the range of $13.0 million to $16.0 million.
For fiscal 2023 the Company expects: Net revenue to be between $1.56 billion and $1.62 billion vs. consensus of $1.59B. Net (loss) income to be between $(6.0) million and $1.0 million and diluted (loss) earnings per share to be between $(0.18) and $0.03 vs. consensus of -$0.01. Adjusted EBITDA in the range of $72.0 million to $82.0 million. Capital expenditures of approximately $35.0 million.

For further details see: