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LE Lands` End

Lands' End is an American clothing and home decor retailer founded in 1963 and based in Dodgeville, Wisconsin, that specializes in casual clothing, luggage, and home furnishings. The majority of the company's business is conducted through mail order and Internet sales, but the company also has retail stores, primarily in the Upper Midwest, along with international shops in the UK, Germany, Japan, France and Austria. From 2002 to 2014, Lands' End was a subsidiary of Sears Holdings.[citation needed] Lands' End began as a mail-order yachting supply company in 1963 in Chicago. It was founded by Gary Comer, along with his partners, 1963 Pan American Games gold medalist sailors Richard Stearns and Robert Halperin, and two of Stearns' employees. As the business became successful, it expanded into general clothing and home furnishings, and moved to Dodgeville, Wisconsin in 1978. The company is named from its sailboat heritage, after Land's End, but the misplaced apostrophe in the company name was a typographical error that Comer could not afford to change, as promotional materials had already been printed.

Company profile

Ticker
LE
Exchange
CEO
Jerome Griffith
Employees
Incorporated
Location
Fiscal year end
Former names
LANDS END INC
SEC CIK

LE stock data

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Calendar

24 Mar 21
13 Apr 21
31 Jan 22
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Jan 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Lands` End earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 35.79M 35.79M 35.79M 35.79M 35.79M 35.79M
Cash burn (monthly) 7.49M 3.63M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 18.88M 9.14M n/a n/a n/a n/a
Cash remaining 16.91M 26.66M n/a n/a n/a n/a
Runway (months of cash) 2.3 7.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Mar 21 Sarah W. Rasmusen Common Stock Sell Dispose S No No 24.589 8,223 202.2K 8,223
26 Mar 21 Gray Peter L Common Stock Payment of exercise Dispose F No No 25.24 1,676 42.3K 55,849
26 Mar 21 Gray Peter L Common Stock Option exercise Aquire M No No 0 5,709 0 57,525
26 Mar 21 Gray Peter L RSU Common Stock Option exercise Dispose M No No 0 5,709 0 48,023
26 Mar 21 Gooch James F Common Stock Payment of exercise Dispose F No No 25.24 2,025 51.11K 77,075
26 Mar 21 Gooch James F Common Stock Option exercise Aquire M No No 0 7,307 0 79,100
26 Mar 21 Gooch James F RSU Common Stock Option exercise Dispose M No No 0 7,307 0 54,537
26 Mar 21 McCRACKEN BERNARD LOUIS III Common Stock Payment of exercise Dispose F No No 25.24 520 13.12K 10,454
26 Mar 21 McCRACKEN BERNARD LOUIS III Common Stock Option exercise Aquire M No No 0 1,622 0 10,974
26 Mar 21 McCRACKEN BERNARD LOUIS III RSU Common Stock Option exercise Dispose M No No 0 1,622 0 10,907

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 105 95 +10.5%
Opened positions 21 15 +40.0%
Closed positions 11 16 -31.3%
Increased positions 26 21 +23.8%
Reduced positions 28 30 -6.7%
13F shares
Current Prev Q Change
Total value 813.08M 199.54M +307.5%
Total shares 35.88M 15.31M +134.3%
Total puts 72.1K 188.9K -61.8%
Total calls 74.4K 122.3K -39.2%
Total put/call ratio 1.0 1.5 -37.3%
Largest owners
Shares Value Change
Esl Partners 19.99M $409.4M NEW
RBS Partners 4.2M $90.6M -6.7%
Capital Research Global Investors 2.1M $45.3M 0.0%
Penserra Capital Management 1.7M $36.7M NEW
BLK Blackrock 1.03M $22.27M -3.8%
Frontier Capital Management 965.78K $20.83M +3.2%
Dimensional Fund Advisors 965.74K $20.83M +1.4%
Vanguard 845.34K $18.23M +1.8%
Towerview 450K $9.71M -17.8%
STT State Street 420.6K $9.07M +71.0%
Largest transactions
Shares Bought/sold Change
Esl Partners 19.99M +19.99M NEW
Penserra Capital Management 1.7M +1.7M NEW
GS Goldman Sachs 17.4K -483.53K -96.5%
RBS Partners 4.2M -300.25K -6.7%
Petrus Trust Company, LTA 411.56K -278.45K -40.4%
Nuveen Asset Management 108.82K -182.08K -62.6%
STT State Street 420.6K +174.65K +71.0%
Towerview 450K -97.5K -17.8%
AXAHF Axa 96.31K +96.31K NEW
Royce & Associates 95.15K +95.15K NEW

Financial report summary

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Risks
  • The impact of economic conditions on consumer discretionary spending and on our business-to-business customers could materially 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.
  • Unseasonal or severe weather conditions may adversely affect our merchandise sales.
  • Our business is seasonal in nature and any decrease in our sales or margins could have an adverse effect on our business and results of operations.
  • Increases in postage, paper and printing costs could adversely affect the costs of producing and distributing our catalog and promotional mailings which 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.
  • 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 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.
  • 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 third parties to provide us with services in connection with certain aspects of our business, and any failure by these third parties 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.
  • We conduct business in and rely on sources for merchandise located in foreign markets and our business may therefore be adversely affected by legal, regulatory, economic and political risks associated with international trade in those markets.
  • 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 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, it could result in significant disruptions to our operations.
  • If we do not adequately protect against cyber security threats or maintain the security 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 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.
  • Our share price may be volatile.
  • 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
  • ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • You should read the following discussion in conjunction with the Consolidated Financial Statements and accompanying notes included elsewhere in this Annual Report on Form 10-K. Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements. The matters discussed in these forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. See "Cautionary Statements Concerning Forward-Looking Statements" below and Item 1A, Risk Factors, in this Annual Report on Form 10-K for a discussion of the uncertainties, risks and assumptions associated with these statements.
  • This section discusses our results of operations for the year ended January 29, 2021 as compared to the year ended January 31, 2020. For a discussion and analysis of the year ended January 31, 2020 compared to February 1, 2019, please refer to “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in Item 7 of our Annual Report on Form 10-K for the year ended January 31, 2020, filed with the SEC on March 23, 2020.
Content analysis
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