LE - Lands' End stock rises despite Q1 loss sales decline

Lands' End (NASDAQ:LE) shares rallied ~15% after the clothing and home decor retailer reported Q1 results earlier today. The company incurred $0.07 loss per diluted share on revenue of $303.7M that contracted 5.5% Y/Y. Gross margin declined ~350 basis points to 42.5%, compared to 46.0% in first quarter of fiscal 2021. Gross margin declined by an incremental $13.6M of transportation costs, compared to the first quarter of fiscal 2021, due to global supply chain challenges. Adjusted EBITDA decreased to $13.8M compared to $22.5M in the prior year quarter, but met the company's own estimates. Lands' End trimmed its full-year guidance for earnings per share and net revenue, with CFO Jim Gooch seeing ongoing pressures including supply chain delays and consumer inflation impacting business for the remainder of the year.  Net revenue is expected to be in the range of $1.62B-$1.68B vs. $1.71B consensus (prior guidance: $1.68B and $1.75B), while EPS is expected to

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Lands' End stock rises despite Q1 loss, sales decline