{"id":55452,"date":"2023-08-31T18:38:15","date_gmt":"2023-08-31T22:38:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/lands-end-shares-slide-19-after-loss-widens-and-sales-slump-8\/"},"modified":"2023-08-31T18:38:17","modified_gmt":"2023-08-31T22:38:17","slug":"lands-end-shares-slide-19-after-loss-widens-and-sales-slump-8","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55452","title":{"rendered":"Lands\u2019 End shares slide 19% after loss widens and sales slump 8%"},"content":{"rendered":"
\n

Lands\u2019 End Inc.\u2019s stock
\n LE,
\n -24.95%<\/bg-quote>
\n slid 19% Thursday, after the company\u2019s second-quarter loss widened from a year ago while revenue fell about 8%. The Dodgeville, Wis.\u2013based online retailer of casual clothing had a net loss of $8 million, or 25 cents a share, for the quarter, wider than the loss of $2.2 million, or 7 cents a share, posted in the year-earlier period. Revenue fell 7.9% to $323.3 million from $351.2 million a year ago. There\u2019s only one estimate for Lands\u2019 End earnings on FactSet, and that was for a loss of 13 cents a share with revenue of $326 million. Chief Executive Andrew McLean said the company managed to achieve a 220-basis-point improvement in gross margin and a 30% reduction in inventory in the quarter. For the third quarter, the company expects a per-share loss of 20 cents to 13 cents and revenue of $340 million to $355 million. For its full fiscal year, it expects a loss of 14 cents to earnings of 3 cents a share and for revenue of $1.5 billion to $1.55 billion. The stock has gained 10% to date in 2023, while the S&P 500
\n SPX,
\n -0.16%<\/bg-quote>
\n has gained 18%. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lands\u2019 End Inc.\u2019s stock LE, -24.95% slid 19% Thursday, after the company\u2019s second-quarter loss widened from a year ago while revenue fell about 8%. The Dodgeville, Wis.\u2013based online retailer of casual clothing had a net loss of $8 million, or 25 cents a share, for the quarter, wider than the loss of $2.2 million, or […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-55452","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nLands\u2019 End shares slide 19% after loss widens and sales slump 8% | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Lands\u2019 End Inc.\u2019s stock LE, -24.95% slid 19% Thursday, after the company\u2019s second-quarter loss widened from a year ago while revenue fell about 8%. 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