Lands' End Updates 2024 Outlook: Now Expects Net Revenues Of $1.36B-$1.40B (Prior $1.35B-$1.43B) Vs. $1.402B Est., And Adj. EPS Of $0.35-$0.45 (Prior $0.29 - $0.48) Vs. $0.34 Est.

Benzinga2024-12-05

Outlook

Bernie McCracken, Chief Financial Officer, stated, "In the third quarter, we delivered low-double digit growth in GMV, which exceeded our guidance range, and Adjusted EBITDA growth of 17% year-over-year, which was within our guidance range. We also achieved improvements in gross margin and gross profit, primarily driven by lower promotional activity, strength in product solutions, newness across the channels and improved supply chain costs. By improving profit margins across our business units, we have been able to reinvest in the business, including our marketing efforts focused on new customer acquisition."

For fiscal 2024 the Company now expects:

Net revenue to be between $1.36 billion and $1.40 billion.
Gross Merchandise Value expected to deliver low-to-mid single digits percentage growth.
Net income to be between $6.0 million and $9.0 million and diluted earnings per share to be between $0.19 and $0.29.
Adjusted net income to be between $11.0 million and $14.0 million and Adjusted diluted earnings per share to be between $0.35 and $0.45.
Adjusted EBITDA in the range of $92.0 million to $96.0 million.
Capital expenditures of approximately $35.0 million.

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