Land’s End Inc.’s stock
LE,
slid 19% Thursday, after the company’s second-quarter loss widened from a year ago while revenue fell about 8%. The Dodgeville, Wis.-based online retailer of casual clothing had a net loss of $8.0 million, or 25 cents a share, for the quarter, wider than the loss of $2.2 million, or 7 cents a share, posted in the year-earlier period. Revenue fell 7.9% to $323.3 million from $351.2 million a year ago. There’s only one estimate for Land’s End earnings on FactSet, and that was for a loss of 13 cents a share and revenue of $326.0 million. Chief Executive Andrew McLean said the company managed to achieve a 220 basis point improvement in gross margin and a 30% reduction in inventory in the quarter. For the third quarter, the company expects a loss per share of 20 cents to 13 cents and revenue of $340 million to $355 million. For its full fiscal year, it expects a loss of 14 cents to EPS of 3 cents a share and for revenue of $1.50 billion to $1.55 billion. The stock has gained 10% in the year to date, while the S&P 500
SPX,
has gained 18%.
