Land’s End Q2 same-store sales up 3.8 percent

Lands' End net revenue for the second quarter was 302.2 million dollars compared to 292 million dollars in the second quarter last year. Direct segment net revenue increased 5.5 percent to 259.9 million dollars against the same period last year. Retail segment net revenue decreased 7.4 percent to 42.2 million dollars due to fewer Lands' End shops at Sears. Same store sales for the quarter increased 3.8 percent.

Commenting on the company’s performance, Jerome S. Griffith, Land’s End CEO, said in a media release: "We are pleased with the continued progress that we made during the second quarter, as we once again drove positive results across a number of key metrics. Overall, we are pleased with the progress that we continue to make in the business, and believe that we remain well-positioned to drive growth over the long-term."

Gross margin was 44.4 percent compared to 46.6 percent and net loss was 3.9 million dollars or 0.12 dollar per diluted share against net loss of 2 million dollars or 0.06 dollar per diluted share, in the second quarter of fiscal 2016. Adjusted EBITDA stood at 6.8 million dollars compared to 7.3 million dollars in the second quarter of fiscal 2016.

Picture:Facebook/Land's End