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Lands` End (LE)

Lands' End, Inc. is a leading uni-channel retailer of casual clothing, accessories, footwear and home products. It offers products online, on third party online marketplaces and through its own Company Operated stores, as well as, third-party retail locations. It's 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.

Company profile

Ticker
LE
Exchange
CEO
Jerome Griffith
Employees
Incorporated
Location
Fiscal year end
Former names
LANDS END INC
SEC CIK
Subsidiaries
Lands’ End Canada Outfitters ULC • Lands’ End Direct Merchants, Inc. • Lands’ End International, Inc. • Lands’ End Europe Limited • Lands’ End GmbH • Lands’ End (HK) Limited • Lands’ End Japan, Inc. • Lands’ End Publishing, LLC • LEGC, LLC ...

LE stock data

Calendar

2 Jun 22
18 Aug 22
28 Jan 23
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Jan 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 24.17M 24.17M 24.17M 24.17M 24.17M 24.17M
Cash burn (monthly) 3.99M 1.19M 1.37M (no burn) 40.8M 1.09M
Cash used (since last report) 14.68M 4.4M 5.04M n/a 150.16M 4.03M
Cash remaining 9.5M 19.78M 19.13M n/a -125.99M 20.14M
Runway (months of cash) 2.4 16.6 14.0 n/a -3.1 18.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 Jul 22 Galvin Robert Common Stock Grant Acquire A No No 12.75 1,250 15.94K 12,732
29 Apr 22 Galvin Robert Common Stock Grant Acquire A No No 14.02 1,136 15.93K 11,482
6 Apr 22 Lampert Edward S Common Stock, par value $0.01 per share Sell Dispose S No No 16.2514 2,913 47.34K 17,114,430
25 Mar 22 Gray Peter L Common Stock Payment of exercise Dispose F No No 17.37 2,748 47.73K 86,512
25 Mar 22 Gray Peter L Common Stock Option exercise Acquire M No No 0 8,789 0 89,260
25 Mar 22 Gray Peter L RSU Common Stock Option exercise Dispose M No No 0 8,789 0 38,954
25 Mar 22 McCRACKEN BERNARD LOUIS III Common Stock Payment of exercise Dispose F No No 17.37 745 12.94K 17,393
25 Mar 22 McCRACKEN BERNARD LOUIS III Common Stock Option exercise Acquire M No No 0 2,328 0 18,138
25 Mar 22 McCRACKEN BERNARD LOUIS III RSU Common Stock Option exercise Dispose M No No 0 2,328 0 9,657
24 Mar 22 Gray Peter L Common Stock Payment of exercise Dispose F No No 18.34 6,484 118.92K 80,471
40.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 121 112 +8.0%
Opened positions 26 10 +160.0%
Closed positions 17 19 -10.5%
Increased positions 44 31 +41.9%
Reduced positions 22 37 -40.5%
13F shares Current Prev Q Change
Total value 501.77M 202.26M +148.1%
Total shares 13.39M 11.95M +12.1%
Total puts 0 53K EXIT
Total calls 554.1K 20K +2670.5%
Total put/call ratio 2.6
Largest owners Shares Value Change
Capital Research Global Investors 2.1M $22.3M 0.0%
Frontier Capital Management 1.3M $13.83M +4.3%
BLK Blackrock 1.22M $13M +2.6%
Dimensional Fund Advisors 1.19M $12.59M +16.2%
Chilton Investment 750.25K $7.97M +188.5%
Vanguard 733.44K $7.79M -37.7%
Legion Partners Asset Management 551.3K $5.86M NEW
Petrus Trust Company, LTA 550K $5.84M 0.0%
ProShare Advisors 530.58K $5.63M -12.1%
Towerview 450K $4.78M +11.1%
Largest transactions Shares Bought/sold Change
Legion Partners Asset Management 551.3K +551.3K NEW
Chilton Investment 750.25K +490.19K +188.5%
Vanguard 733.44K -443.27K -37.7%
Dimensional Fund Advisors 1.19M +165.02K +16.2%
FHI Federated Hermes 192.27K +150.19K +356.9%
Gratia Capital 0 -117.97K EXIT
D. E. Shaw & Co. 114K +84.32K +284.2%
ProShare Advisors 530.58K -72.78K -12.1%
Point72 Asset Management 91K +71.5K +366.7%
MS Morgan Stanley 78.37K +57.61K +277.4%

Financial report summary

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Risks
  • The impact of economic conditions on consumer discretionary spending and customers has in the past and could, in the future, adversely affect our financial performance.
  • Our business and results of operations could be negatively impacted by natural disasters, extreme weather conditions, public health or political crises or other catastrophic events.
  • Climate change, unseasonal or severe weather conditions or significant weather events caused by climate change may adversely affect our merchandise sales.
  • Our business is seasonal in nature and any decrease in our sales or margins, especially during the fourth quarter of our fiscal year, could have an adverse effect on our business and results of operations.
  • Our approach to merchandise promotions and markdowns to encourage consumer purchases could adversely affect our gross margins and results of operations.
  • We may need additional financing in the future for our general corporate purposes or growth strategies and anticipate the need to refinance our long-term debt and such financing may not be available on favorable terms, or at all, and may be dilutive to existing stockholders.
  • Our leverage may place us at a competitive disadvantage in our industry. The agreements governing our debt contain various covenants that impose restrictions on us that may affect our ability to operate our business.
  • We could incur charges due to impairment of goodwill, other intangible assets and long-lived assets.
  • If customer preference for our branded merchandise and services changes or we cannot compete effectively in the apparel industry, our business and results of operations may be adversely affected.
  • The success of our business depends on our overall marketing strategies for digital marketing and direct mail catalogs and customers’ use of our digital platform, including our eCommerce websites.
  • If we are unable to protect or preserve the image of our brands, our reputation and our intellectual property rights, our business may be adversely affected.
  • We rely on vendors to provide us with services in connection with certain aspects of our business, and any failure by these vendors to perform their obligations could have an adverse effect on our business and results of operations.
  • Our Company Operated stores may not be successful, and as a result our business and results of operations could be adversely affected.
  • If we fail to timely and effectively obtain shipments of products from our vendors and deliver merchandise to our customers, our business and operating results could be adversely affected.
  • Fluctuations and increases in the cost, availability, and quality of raw materials as well as fluctuations in other production and distribution related costs could adversely affect our business and results of operations.
  • If we do not accurately forecast our inventory needs, efficiently manage inventory levels and have proper controls to protect our inventory, our results of operations could be adversely affected.
  • Deterioration of relationships with our vendors and/or the failure of our new merchandise sourcing initiatives could have an adverse effect on our competitive position and operational results.
  • The United Kingdom’s exit from the European Union will continue to have uncertain effects and could adversely impact our business, results of operations and financial condition.
  • Our efforts to expand our distribution channels and geographic reach may not be successful.
  • If we do not maintain our current information technology systems or fail to effectively implement new information technology systems, we could experience significant disruptions to our operations.
  • If we do not adequately protect against cyber security threats or maintain the security and privacy of customer, employee or company information, we could experience significant business interruption, damage to our reputation, incur substantial additional costs, and become subject to litigation.
  • ESL, whose interests may be different from the interests of other stockholders, may be able to exert substantial influence over our company.
  • Our common stock price may decline if ESL decides to sell a portion of its holdings of our common stock.
  • Potential liabilities may arise related to the Separation, which could have an adverse effect on our financial condition and our results of operations.
  • Failure to retain our existing workforce and to attract qualified new personnel in the current labor market and remote and hybrid work models could adversely affect our business and results of operations.
  • Failure to retain our executive management team and to attract qualified new personnel could adversely affect our business and results of operations.
  • Other factors may have an adverse effect on our business, results of operations and financial condition.
  • Your percentage ownership in Lands’ End may be diluted in the future.
  • Exposure to periodic litigation and other regulatory proceedings, including with respect to product liability claims. These proceedings may be affected by changes in laws and government regulations or changes in their enforcement.
  • Potential assessments for additional state taxes, which could adversely affect our business.
Management Discussion
  • Net revenue for First Quarter 2022 was $303.7 million, a decrease of $17.6 million or 5.5% compared to $321.3 million from First Quarter 2021.
  • U.S. eCommerce Net revenue was $174.9 million for First Quarter 2022, a decrease of $28.7 million or 14.1%, from $203.6 million during the First Quarter 2021. Compared to First Quarter 2021, the decrease in revenue in First Quarter 2022 was driven by delayed receipts of key products due to the global supply chain challenges and macroeconomic challenges.
  • International eCommerce Net revenue was $44.2 million for First Quarter 2022, a decrease of $12.2 million or 21.7%, from $56.4 million during the First Quarter 2021. The decrease in revenue in First Quarter 2022 was driven by delayed receipts of key products due to the global supply chain challenges and macroeconomic challenges.

Content analysis

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