Lands' End Stock Plummets On Q3 Sales Miss, Grim Outlook

Lands' End Inc LE reported third-quarter FY21 sales growth of 4.4% year-on-year, to $375.84 million, missing the analyst consensus of $397.05 million.
Global eCommerce revenue declined 6% Y/Y to $261.2 million due to inventory constraints driven by supply chain challenges.
The gross profit margin contracted 100 basis points to 44.4%, reflecting increased shipping costs.
The operating margin was 5.2%, and operating income for the quarter rose 4.3% to $19.5 million.
Adjusted EBITDA of $29.8 million increased 4.2% Y/Y.
EPS of $0.22 beat the analyst consensus of $0.21.
Lands' End held $39.9 million in cash and equivalents as of October 29, 2021. Net cash used in operating activities for nine months totaled $6.4 million.
Outlook: Lands' End sees Q4 sales of $560 million - $575 million, below the consensus of $590.91 million. It sees Q4 EPS of $0.27 - $0.36, below the Street view of $0.64.
The company expects FY21 sales of $1.64 billion - $1.655 billion (prior view $1.67 billion - $1.71 billion) below the consensus of $1.69 billion. It sees EPS of $1.04 - $1.13 (prior view $1.35 - $1.51), missing the consensus of $1.42.
Price Action: LE shares are trading lower by 13% at $19.08 on the last check Thursday.

Momentum13.60

Growth28.99

Quality91.38

Value28.06

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