US clothing retailer Lands’ End May-July sales jump 23%

Lands’ End, a United States-based uni-channel casual wear and home products retailer, posted 23.1% revenue growth to $ 384.1 million in the second quarter ( Q2) of fiscal year 21 ended July 31, 2021, compared to the same period of the previous fiscal year. . Global e-commerce revenue for the three-month period jumped 7.7% to $ 285.4 million (Q2 FY20: $ 265.1 million).

The company’s Outfitters business revenue grew 75.4% to $ 65.6 million ($ 37.4 million) due to higher demand in national travel-related accounts and school uniform customers.

Lands’ End, a United States-based uni-channel casual wear and home products retailer, posted revenue growth of 23.1% to $ 384.1 million in the second quarter ( Q2) of fiscal year 21 ended July 31, 2021, compared to the same period of the previous fiscal year. . Global e-commerce revenue for the three-month period jumped 7.7% to $ 285.4 million (Q2 FY20: $ 265.1 million).

“We are very satisfied with our performance this quarter, generating record second quarter revenue and strength in all of our financial metrics. Our improved product mix and increased digital marketing spend has strengthened our global e-commerce business ”, Jerome Griffith, Managing Director of Lands’ End, said in a statement.

Gross profit for the second quarter of fiscal 21 was $ 177.8 million ($ 135.4 million). The U.S. retailer’s operating profit improved to $ 31.3 million ($ 11.2 million), while net profit climbed to $ 16.2 million ($ 4.4 million) .

“We delivered strong results in the second quarter as we continued to make great progress in our strategic initiatives despite a still challenging environment. We are seeing strong momentum in consumer demand, which we expect to continue through the end of the year, and we are extremely pleased with the margin performance we have achieved through the execution of our strategic initiatives ” ,
Jim Gooch, President and CFO of Lands’ Endnoted.

In its outlook for fiscal 2021, the company expects its net sales to be between $ 1.67 billion and $ 1.71 billion, while net profit will be between $ 45.5 and $ 51 billion. , 0 million dollars.

Fibre2Fashion Information Office (JL)


Source link

Anne G. Cash

Leave a Reply

Your email address will not be published. Required fields are marked *