Lands’ End (NASDAQ:LE) earnings for the retail company’s fiscal first quarter of 2020 have LE stock falling hard on Tuesday. That’s thanks to its diluted loss per share of 64 cents missing Wall Street’s estimate of a 56-cent loss. The company’s revenue of $217.01 million also couldn’t reach analysts’ estimates of $217.96 million.
The following is a more thorough look at the most recent Lands’ End earnings report.
- Diluted per-share losses for the quarter come in 204.8% worse than the 21-cent loss from the fiscal first quarter of 2019.
- Revenue is sitting 17.3% lower than the $262.4 million from the same time last year.
- Operating loss of $24.71 million is 801.1% wider year-over-year compared to a loss of $4.7 million.
- The Lands’ End earnings report also has net loss coming in at $20.64 million.
- That’s 202.6% worse than the retailer’s net loss of $6.82 million from the same period of the year prior.
Jerome Griffith, president and CEO of Lands’ End, had this to say about the fiscal Q1 earnings.
“Following strong trends early in the first quarter, we saw the impact of COVID-19 in mid-March. Beginning in mid-April, we were pleased to see a rebound in our global eCommerce channel, which accelerated to double digit growth in May.”
Lands’ End reveals an outlook in the current earnings report. It’s expecting revenue in the fiscal second quarter of the year to drop in the mid to high single digits range. The company is also planning for its retail locations to open for business again by the end of the month.
LE stock was down 12.6% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.