DODGEVILLE, Wis., July 20, 2021 (GLOBE NEWSWIRE) Lands' End, Inc. (NASDAQ: LE) today raised its guidance for both the second quarter ending July 30, 2021 and fiscal year ending January 28, 2022.

Jerome Griffith, Lands’ End’s Chief Executive Officer, stated, “Following our strong financial results in the first quarter, we are very pleased with our performance in the second quarter-to-date, with results tracking ahead of our expectations. Our strong topline momentum continues, driven by our global eCommerce business, as well as a faster than anticipated recovery in our Outfitters business, primarily in National Accounts and school uniforms. Our gross margin continues to benefit from our improved promotional strategies and enhanced data analytics capabilities contributing to exceptional growth in adjusted EBITDA compared to both last year and pre-pandemic 2019 levels. Given the strength in our business, we are increasing our guidance for both the second quarter and the full year, as we expect this momentum to continue into the back half of 2021.”

For the Second Quarter of Fiscal 2021 the Company Now Expects:

• Net revenue to be between $380.0 million and $385.0 million, representing growth of between 21.8% and 23.4% compared to the Second Quarter of fiscal 2020. This is an increase from prior guidance of $345.0 million to $355.0 million.
• Net income to be between $13.0 million and $14.5 million and diluted earnings per share to be between $0.39 and $0.43, an increase from prior guidance of Net income between $1.5 million and $4.0 million and diluted earnings per share between $0.05 and $0.12.
• Adjusted EBITDA to be between $36.0 million and $38.0 million, representing growth of between 50.6% and 59.0% compared to the Second Quarter of fiscal 2020. This is an increase from prior guidance of $20.0 million to $23.0 million.

For Full Year Fiscal 2021 the Company Now Expects:

• Net revenue to be between $1.67 billion and $1.71 billion, representing growth of between 17.0% and 19.8% compared to fiscal 2020. This is an increase from prior guidance of $1.61 billion to $1.65 billion.
• Net income to be between $43.0 million and $49.5 million and diluted earnings per share to be between $1.27 and $1.47, an increase from prior guidance of Net income between $27.5 million and $34.0 million and diluted earnings per share between $0.84 and $1.04.
• Adjusted EBITDA to be between $132.0 million and $140.0 million, representing growth of between 51.7% and 60.9% compared to fiscal 2020. This is an increase from prior guidance of $114.0 million to 122.0 million.
• Capital Expenditures of approximately $26.0 million

About Lands' End, Inc.

Lands' End, Inc. (NASDAQ:LE) is a leading uni-channel retailer of casual clothing, accessories, footwear and home products. Operating out of America’s heartland, we believe our vision and values make a strong connection with our core customers. We offer products online at www.landsend.com, on third party online marketplaces and through our own Company Operated stores, as well as, third-party retail locations. We are a classic American lifestyle brand with a passion for quality, legendary service and real value, and seek to deliver timeless style for women, men, kids and the home.