US clothing retailer Lands' End reports Q4 FY20 revenue of $538 mn

Lands' End, a US-based uni-channel retailer of casual clothing, footwear and home products, reported 2.0 per cent revenue decline to $538.4 million in its fourth quarter (Q4) for FY20 ended on January 31, 2021, compared to sales of $549.5 million in the same period previous fiscal. The company’s net income fell to $19.9 million (Q4 FY19: $25.5 million).

 

Lands' End, a US-based uni-channel retailer of casual clothing, footwear and home products, reported 2.0 per cent revenue decline to $538.4 million in its fourth quarter (Q4) for FY20 ended on January 31, 2021, compared to sales of $549.5 million in the same period previous fiscal. The company's net income fell to $19.9 million (Q4 FY19: $25.5 million).#

“The strength and resilience of our business model as well as the diligence and endurance of our teams was clearly demonstrated over the past year. From the onset of the pandemic, we moved swiftly to protect our business while at the same time maintaining our focus on the execution of our strategic pillars,” Jerome Griffith, chief executive officer at Lands' End, said in a press release.

 

Lands' End, a US-based uni-channel retailer of casual clothing, footwear and home products, reported 2.0 per cent revenue decline to $538.4 million in its fourth quarter (Q4) for FY20 ended on January 31, 2021, compared to sales of $549.5 million in the same period previous fiscal. The company's net income fell to $19.9 million (Q4 FY19: $25.5 million).#

“We were well positioned to capitalise on the accelerated shift to online as a digitally-led company and we benefited from the investments we made to advance our competitive strengths. This enabled us to drive high-single digit growth in our global e-commerce sales and double-digit growth in Adjusted EBITDA in Fiscal 2020,” said.

 

Lands' End, a US-based uni-channel retailer of casual clothing, footwear and home products, reported 2.0 per cent revenue decline to $538.4 million in its fourth quarter (Q4) for FY20 ended on January 31, 2021, compared to sales of $549.5 million in the same period previous fiscal. The company's net income fell to $19.9 million (Q4 FY19: $25.5 million).#

The company’s gross profit for the quarter slipped to $212.8 million ($218.7 million), while operating income decreased to $35.9 million ($39.8 million). However, global e-commerce revenue jumped 7.5 per cent during the reported period, driven by Europe revenue growth of 38.0 per cent, and US e-commerce growing 3.7 per cent.

 

Lands' End, a US-based uni-channel retailer of casual clothing, footwear and home products, reported 2.0 per cent revenue decline to $538.4 million in its fourth quarter (Q4) for FY20 ended on January 31, 2021, compared to sales of $549.5 million in the same period previous fiscal. The company's net income fell to $19.9 million (Q4 FY19: $25.5 million).#

“As we look ahead, we will maintain our focus on driving continued momentum in our global e-commerce business, progressing the recovery of our Outfitters business and further advancing our third-party and marketplace growth strategies. The investments we have made in our business, combined with the continued execution of our strategies, positions us to deliver sustainable long-term growth and drive increased shareholder value,” Jim Gooch, president and chief financial officer at Lands' End, said in the release.