- Lands' End press release ( NASDAQ: LE ): Q2 GAAP EPS of -$0.07 beats by $0.06 .
- Revenue of $351.2M (-8.6% Y/Y) beats by $7.86M .
- Global eCommerce net revenue decreased 16.0% for the second quarter. Net revenue in U.S. eCommerce decreased 14.4% and International eCommerce decreased 23.9%, both driven by delayed receipts of key products due to global supply chain and continued macroeconomic challenges.
- Outfitters net revenue increased 7.7%, attributed to stronger demand within school uniform households and national accounts.
- Third Party net revenue increased 42.9%, primarily attributed to growth in the Kohl’s online marketplace, and growth in other new and existing online marketplaces.
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For the third quarter of fiscal 2022 the Company expects:
- Net revenue to be between $375.0 million and $390.0 million vs. $398.4M consensus
- Net income to be between $1.0 million and $4.0 million and diluted earnings per share to be between $0.03 and $0.12 vs. $0.26 consensus.
- Adjusted EBITDA in the range of $20.0 million to $24.0 million.
This third quarter outlook assumes approximately $9.0 million of incremental transportation expenses due to the global supply chain challenges.
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For fiscal 2022 the Company now expects:
- Net revenue to be between $1.60 billion and $1.64 billion from prior outlook of $1.62B-$1.68B vs. $1.64B consensus.
- Net income to be between $16.5 million and $23.5 million, and diluted earnings per share to be between $0.49 and $0.70 from prior outlook of $0.60-$0.88 vs. $0.76 consensus.
- Adjusted EBITDA in the range of $95.0 million to $105.0 million.
- Capital expenditures of approximately $37.0 million.
For further details see:
Lands' End GAAP EPS of -$0.07 beats by $0.06, revenue of $351.2M beats by $7.86M, cuts FY22 guidance