Lands’ End, Inc. Stock Soars on Q3 Earnings Beat

Lands’ End, Inc. (NASDAQ:LE) stock was on its way up today following the release of its most recent earnings report.

Lands' End, Inc. Stock Soars on Q3 Earnings Beat

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During the third quarter of the year, Lands’ End, Inc. reported earnings per share of one penny. This is an increase over its losses per share of 23 cents from the same time last year. It was also a blessing to LE stock by beating out Wall Street’s losses per share estimate of 4 cents for the quarter.

Lands’ End, Inc. also reported revenue of $325.49 million in  the third quarter of 2017. This is up from its revenue of $311.48 million reported in the third quarter of 2016. It was also a boon to LE stock by coming in above analysts’ revenue estimate of $320.17 million for the period.

Operating income reported by Lands’ End, Inc. in the third quarter of the year was $5.94 million. This is an improvement over its operating loss of $3.42 million that was reported in the same period of the year prior.

Lands’ End, Inc. reported net income of $162,000 for the third quarter of 2017. The clothing retailer reported a net loss of $7.22 million in the same quarter of the previous year.

“We were pleased with the continued momentum in our business in the third quarter, which carried through the Thanksgiving to Cyber Monday period,” Jerome Griffith, CEO of Lands’ End, Inc., said in a statement. “We are now focused on building off of this momentum and our strong position as a customer centric, multi-channel, online organization as we work to drive consistent revenue and earnings growth over the long-term.”

LE stock was up 5% as of Tuesday afternoon, but is down 18% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/12/lands-end-beats-q3-estimates/.

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