Lands' End, Inc.
- Open
- 10.42
- Day high
- 10.54
- Day low
- 10.22
- Prev close
- 10.48
- Volume
- 151K
- Mkt cap
- $315M
- P/E (TTM)
- 0.9
- EPS (TTM)
- $11.19
- P/B
- 0.6
- P/S
- 0.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$60.5M over the last 3 months (0 open-market buys, 15 sales)
- 🏛Institutions mixed (13F)
Lands' End, Inc. (LE) is a Consumer Cyclical company listed on NASDAQ. The stock is down 10% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 15 sales (SEC Form 4). Drillr has 1 published research article covering LE.
Lands' End, Inc. (LE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 9, 2026 | $-0.21 | $-0.11 | +47.6% | $239M | -11.1% |
| Mar 19, 2026 | $0.77 | $0.76 | -1.3% | $462M | -2.3% |
| Dec 9, 2025 | $0.17 | $0.21 | +23.5% | $317M | -32.6% |
| Sep 9, 2025 | $-0.03 | $-0.06 | -100.0% | $294M | -9.8% |
| Jun 5, 2025 | $-0.19 | $-0.18 | +5.3% | $261M | -19.4% |
| Mar 20, 2025 | $0.58 | $0.57 | -1.7% | $442M | +61.0% |
| Dec 5, 2024 | $0.02 | $0.06 | +200.0% | $319M | -30.5% |
| Sep 5, 2024 | $-0.10 | $-0.02 | +80.0% | $317M | +3.2% |
| Jun 5, 2024 | $-0.27 | $-0.20 | +25.9% | $285M | +5.8% |
| Dec 5, 2023 | $-0.16 | $-0.11 | +31.3% | $325M | -35.4% |
| Aug 31, 2023 | $-0.10 | $-0.25 | -150.0% | $323M | -1.5% |
| Jun 1, 2023 | $-0.11 | $-0.05 | +54.5% | $310M | -41.5% |
LE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 16, 2026 | McCRACKEN BERNARD LOUIS IIIofficer: CFO and Treasurer | Tax | 2,183 | $12.41 |
| Jun 16, 2026 | McCRACKEN BERNARD LOUIS IIIofficer: CFO and Treasurer | Option | 4,643 | — |
| Jun 16, 2026 | McLean Andrew J.director, officer: Chief Executive Officer | Tax | 34,672 | $12.41 |
| Jun 16, 2026 | McLean Andrew J.director, officer: Chief Executive Officer | Option | 73,770 | — |
| Jun 16, 2026 | Maas Kymofficer: President, LE Consumer & CCO | Tax | 3,903 | $12.41 |
| Jun 16, 2026 | Maas Kymofficer: President, LE Consumer & CCO | Option | 11,124 | — |
| Jun 16, 2026 | GRAY PETER Lofficer: PRES LE Licensing, CAO & GC | Option | 21,736 | — |
| Jun 16, 2026 | GRAY PETER Lofficer: PRES LE Licensing, CAO & GC | Tax | 10,704 | $12.41 |
| May 5, 2026 | Parker Alicia Uhlmandirector | Grant | 707 | $11.40 |
| May 5, 2026 | Galvin Robertdirector | Grant | 1,343 | $11.40 |
| Apr 6, 2026 | Galvin Robertdirector | Sell | 2,548 | $45.00 |
| Apr 6, 2026 | Hartogensis Gordondirector | Sell | 752 | $45.00 |
| Apr 6, 2026 | GRAY PETER Lofficer: PRES LE Licensing, CAO & GC | Tax | 8,568 | $11.56 |
| Apr 6, 2026 | LAMPERT EDWARD S10 percent owner | Sell | 1,300,505 | $45.00 |
| Apr 6, 2026 | Christopher Martin D.officer: EVP, Chief Technology Officer | Tax | 4,208 | $11.56 |
Source: LE SEC Form 4 filings, latest Jun 16, 2026. For informational purposes only — not investment advice.
See the full LE insider & 13F page →Lands' End, Inc. company profile
Overview
Lands' End, Inc. (NASDAQ:LE) is a specialty retailer founded in 1963 and headquartered in Dodgeville, Wisconsin. Originally established as a sailing equipment catalog company, Lands' End has evolved into a multi-channel retailer specializing in casual clothing, accessories, footwear, and home products. The company went public in 2014 after being spun off from Sears Holdings Corporation. Today, Lands' End operates as a digitally-focused brand serving customers in the United States, Europe, Asia, and other international markets through e-commerce platforms, physical retail stores, and third-party distribution channels.
Business
Lands' End operates in the specialty retail industry, focusing on casual and lifestyle apparel with an emphasis on quality and durability. The company's core business revolves around designing, sourcing, and selling clothing and accessories primarily through digital channels, which account for over 90% of its revenue. The company operates through several distinct business segments. U.S. eCommerce represents the largest segment, selling directly to consumers through the company's website and digital platforms. This segment focuses on casual clothing, outerwear, swimwear, and accessories under various brand names including Lands' End, Let's Get Comfy, Squall, and Super-T. European eCommerce serves international markets with similar product offerings but tailored to local preferences. Japan eCommerce provides a dedicated platform for the Japanese market. The Outfitters segment operates as a business-to-business division, providing uniform solutions and corporate apparel to companies, schools, and organizations. This includes both business uniforms for corporate clients like Wells Fargo and school uniforms for educational institutions. The Third Party segment involves selling products through external retail partners such as Amazon, Nordstrom, Target, Kohl's, and Costco, leveraging these platforms for broader market reach and customer acquisition. The Retail segment consists of approximately 30 company-operated physical stores, though this represents a smaller portion of overall revenue. Additionally, the company has been expanding its Licensing business, partnering with other companies to extend the Lands' End brand into new product categories like footwear, home goods, and beauty products while maintaining quality control standards. Based on recent financial performance, U.S. eCommerce likely represents approximately 60-65% of total revenue, with Outfitters accounting for roughly 20-25%, Third Party business around 8-12%, and the remaining segments comprising smaller portions of the revenue mix.
Revenue model
Lands' End generates revenue primarily through direct product sales across multiple channels, operating on a traditional retail business model with some modern variations. The company makes money by purchasing or manufacturing apparel and accessories, then selling them at a markup through various distribution channels. The primary revenue stream comes from direct-to-consumer sales through the company's e-commerce platforms, where customers purchase clothing, accessories, and home products at retail prices. The company's paying customers include individual consumers seeking casual and outdoor clothing, as well as businesses and institutions requiring uniform solutions through the Outfitters division. A secondary revenue model involves wholesale and third-party marketplace sales, where Lands' End sells products through partner retailers like Amazon, Nordstrom, and Costco. These partnerships typically involve lower margins but provide broader market access and customer acquisition opportunities. The company has been strategically expanding this channel, with third-party business showing revenue growth exceeding 20-60% in recent quarters. An emerging revenue stream is the asset-light licensing model, where Lands' End licenses its brand name and design expertise to other manufacturers in exchange for licensing fees and royalties. This model requires minimal capital investment while generating recurring revenue, and management aims for licensing to represent approximately 20% of total business. Several factors influence the company's margins and profitability. Positive margin drivers include the company's focus on higher-quality, full-price sales rather than promotional volume, improved supply chain efficiency by moving production closer to Western markets, and reduced inventory levels leading to fewer markdowns. The shift toward digital channels also provides better margins compared to physical retail operations. Margin pressures come from macroeconomic factors such as inflation in raw materials and labor costs, competitive pricing pressure in the casual apparel market, and the inherently lower margins from third-party marketplace sales. Additionally, the seasonal nature of apparel retail creates working capital challenges, particularly during inventory build-up periods before peak selling seasons.
Competitive moat
Lands' End possesses a moderate but narrowing competitive moat primarily built around brand recognition and customer loyalty rather than structural advantages. The company's 60-year heritage has created strong brand equity, particularly among its core customer base who value quality, durability, and classic American styling. This brand loyalty is evidenced by the company's ability to maintain pricing power and customer retention despite broader market challenges. The company's customer data and personalization capabilities provide some competitive advantages, as Lands' End has developed detailed customer profiles and purchase histories that enable targeted marketing and product development. The company's focus on "solutions-based" products - items designed to solve specific customer problems rather than just follow fashion trends - creates some differentiation in the crowded casual apparel market. However, the moat faces significant challenges. The casual apparel industry is highly competitive with low barriers to entry, and numerous competitors ranging from fast-fashion retailers to outdoor specialty brands compete for similar customer segments. Amazon and other e-commerce platforms pose particular threats by offering vast selection, competitive pricing, and superior logistics capabilities. The company's Outfitters B2B business provides some competitive protection through longer-term contracts and switching costs for institutional customers, but this segment has shown declining performance. The licensing strategy represents an attempt to build a more defensible business model, but success depends on execution and partner performance. Potential disruption comes from direct-to-consumer brands that can offer similar quality at lower prices by eliminating traditional retail markups, fast-fashion companies that can respond more quickly to trends, and technology-enabled competitors that provide superior customer experiences. The company's traditional customer base is also aging, requiring successful attraction of younger demographics to maintain long-term viability.
Risks & safety
Lands' End presents a moderate margin of safety with manageable financial risks but limited financial flexibility. **Liquidity and Solvency:** - Cash position of $16.2 million is relatively low for operations - Current ratio of 1.63 indicates adequate short-term liquidity - Debt-to-equity ratio of 1.10 shows moderate leverage levels - Positive operating cash flow of $65.4 million in Q4 2024 demonstrates cash generation capability - Free cash flow of $49.7 million provides some financial cushion **Valuation Metrics:** - Price-to-earnings ratio of 5.19 suggests potential undervaluation - EV/EBITDA of 3.50 appears attractive for a retail company - Price-to-book ratio of 1.61 is reasonable given asset base - Graham number calculation suggests potential value opportunity **Other Considerations:** - Seasonal working capital requirements create periodic cash flow volatility - Inventory management has improved significantly with 12% year-over-year reduction - Market capitalization of approximately $247 million limits institutional investor interest - Company is exploring strategic alternatives including potential sale, indicating management recognition of scale limitations
Recent development
Over the past few years, Lands' End has undergone significant strategic transformation focused on modernizing its business model and expanding beyond traditional direct-to-consumer sales. The company has pivoted toward a "solutions-based strategy" that emphasizes products designed to solve specific customer problems rather than merely following fashion trends. A key strategic initiative has been the expansion of third-party marketplace partnerships. The company has successfully launched on major platforms including Amazon, Nordstrom, Target, Kohl's, and Costco, with third-party revenue growing 20-60% in recent quarters. This channel serves as both a revenue driver and customer acquisition tool, with approximately 80% of marketplace sales coming from new or long-absent customers. The company has aggressively pursued an asset-light licensing strategy, establishing partnerships in categories including footwear, home products, beauty, and children's items. Management aims for licensing to represent approximately 20% of total business, providing higher-margin, recurring revenue with minimal capital requirements. Recent licensing partnerships have shown strong growth, with licensing and retail revenue growing over 50% year-over-year. Digital transformation initiatives have included website redesigns incorporating AI-driven personalization, enhanced social media marketing that doubled Instagram following to nearly 250,000, and implementation of new ERP systems. The company has also focused on attracting younger customer demographics, with new customers averaging 10-12 years younger than the traditional customer base. Operationally, Lands' End has improved supply chain efficiency by moving production closer to Western markets, reducing dependence on Chinese manufacturing to less than 6% of total production. The company has also implemented sophisticated inventory management, achieving the lowest second-quarter inventory levels in a decade and reducing inventory by 12-29% year-over-year across multiple quarters while maintaining service levels.
LE company profile · for informational purposes only — not investment advice.
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