Lands’ End, helped by a tax benefit of $21.9 million and double-digit sales gains in its direct-to-consumer segment, posted a net profit of $39.8 million in the fourth quarter ended Feb.2, compared to a loss of $94.8 million in the year ago period.
Same-store sales increased 5 percent and total revenues increased 11.3 percent to $510.6 million, including $25.9 million from the extra or 53rd week.
Adjusted earnings before interest, taxes, depreciation and amortization were $37.3 million compared to $30.7 million in the year-ago period.
Revenues in the direct segment were up 14.3 percent while the retail segment declined 8.7 percent.
“We were pleased with our strong performance in the fourth quarter as we continued to gain momentum behind our merchandising, marketing and digital initiatives and ended the year on a solid note,” said chief executive officer Jerome S. Griffith. “During 2017, we stabilized the brand, grew our buyer file, reconnected with our core customer, improved our business processes and drove growth across our four key categories.”