LE - Revisiting Lands' End A Richly Priced Niche Clothing And Accessory Company
- Years ago, I wrote on Lands' End after Sears Holding spun the ill-fated acquisition off.
- Shortly after that article and nearly 6 years ago, the share price doubled and hit an all-time high above $50 a share, then dropped to a band in the teens.
- While performing better than Sears, Lands' End is very richly valued, does not pay a dividend, and is in a very competitive environment shaped more by bankruptcies than high valuations.
- While Lands' End survived some of the worst aspects of the spin-off and is likely not a bankruptcy risk, this rich valuation makes me cautious about an investment in the company.
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Revisiting Lands' End, A Richly Priced Niche Clothing And Accessory Company