Shares of Lands’ End slipped 2.1 percent in early morning trading after the company posted first-quarter results that saw its net loss widen from its year-ago loss.
For the three months ended April 28, the net loss widened to $7.8 million, or 24 cents a diluted share, from a net loss of $5.8 million, or 18 cents, a year ago. Net revenue slipped 1.9 percent to $268.4 million from $273.5 million, a year ago. The direct segment saw revenues dip 1.7 percent to $228.3 million, while retail sales fell 2.8 percent to $40 million due to fewer Lands’ End Shop at Sears doors. Its former parent was Sears Holdings Corp. Comparable-store sales rose 2.1 percent in the quarter.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)