Lands' End Reports 8.5% Decline in Q1 Net Revenue, Gross Margin Up 210 Basis Points

Reuters
05 Jun
Lands' End Reports 8.5% Decline in Q1 Net Revenue, Gross Margin Up 210 Basis Points

Lands' End, Inc. reported financial results for the first quarter of fiscal 2025, ending May 2, 2025. The company experienced a decrease in net revenue to $261.2 million, down $24.3 million or 8.5% from $285.5 million in the first quarter of fiscal 2024. Excluding the transition of kids and footwear inventory to licensees, net revenue declined by 4.2%. Gross profit for the quarter was $132.7 million, a reduction of $6.3 million or 4.5% compared to $139.0 million in the same period last year. Despite the decrease in gross profit, the gross margin improved by approximately 210 basis points to 50.8%, up from 48.7% in the first quarter of 2024. This improvement was largely attributed to the impact of transitioning inventory to licensees. Selling and administrative expenses decreased by $3.9 million to $123.5 million, representing 47.3% of net revenue compared to 44.6% in the previous year. The increase in the percentage of net revenue was primarily due to deleverage from lower revenues. Lands' End also reported continued growth in Gross Merchandise Value $(GMV.AU)$, which increased by low-single digits excluding the impact of the inventory transition. However, including this impact, GMV was modestly lower year-over-year. The company highlighted progress in strengthening its diversified supply chain and emphasized its focus on establishing Lands' End as a premium brand across all channels and geographies. No specific outlook or guidance for future quarters was provided in the release.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Lands' End Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9463676-en) on June 05, 2025, and is solely responsible for the information contained therein.

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