Lands' End Q2 FY20 sales rise 4.6% to $312 mn

03 Sep '20

2 min read

Pic: Shutterstock

Lands' End, a US-based uni-channel retailer of casual clothing, footwear and home products, reported 4.6 per cent revenue growth to $312.1 million in its second quarter (Q2) for FY20 ended on July 31, compared to sales of $298.3 million in the same period last year. Company’s net income rose to $4.4 million compared to net loss of $3.0 million in Q2 FY19.

“We are very pleased to have delivered a strong second quarter leveraging the strong momentum in our global e-commerce business. Our performance reflects the execution of our strategies related to product innovation, our global e-commerce platform, data-driven marketing and commitment to optimizing our business processes and infrastructure,” Jerome Griffith, chief executive officer and president at Lands' End, said in a press release.

Company’s gross profit for the quarter rose to $135.4 million (Q2 FY19: $129.0 million). Operating income during Q2 FY20 was $11.1 million compared to operation loss of $0.5 million.

Global e-commerce revenue rose to 23.6 per cent driven by US e-commerce increasing 26.2 per cent and International e-commerce growing 9.4 per cent as compared to the prior period.

“While our business continues to be impacted by the pandemic, our strong second quarter results exemplify the resiliency of our business model. We continue to prioritize maintaining financial flexibility through this challenged period,” Griffith said.

Fibre2Fashion News Desk (JL)

More Lands' End News... More Retail News - United States Of America...