LE earnings analysis
What we found in LE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Lands’ End delivered second-quarter revenue of $302.038 million, slightly below consensus, while diluted EPS of $0.09 exceeded the $0.02 estimate and gross margin reached 52.0%. U.S. eCommerce revenue grew 9.0%, but the supplied 10-Q excerpt does not provide sufficient operating-margin, balance-sheet, cash-flow, or MD&A detail to quantify broader period-over-period trends. The filing disclosed no material changes to previously reported risk factors, while highlighting measurable foreign-exchange and variable-rate debt sensitivities.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Beat Despite Slight Revenue Miss
- Second-quarter revenue was $302.038 million and diluted EPS was $0.09, versus consensus estimates of $303.805 million and $0.02, respectively. Gross margin was reported at 52.0%.
- U.S. eCommerce Growth
- U.S. eCommerce revenue increased 9.0%, indicating continued momentum in the company’s digital channel.
- Share Repurchase Program Active
- The company repurchased 910,253 shares during the quarter at an average price of $11.60 per share; $89.170 million remained available under the $100.0 million authorization.
- Controls Remain Effective
- Management concluded that disclosure controls and procedures were effective as of July 31, 2026, and reported no changes in internal controls that materially affected, or were reasonably likely to materially affect, financial reporting.
- Limited FX Translation Benefit
- Foreign-currency translation income was approximately $0.2 million for year-to-date 2026, providing a modest reported benefit from international operations.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Unhedged Foreign-Exchange Exposure
- A 10% change in foreign-currency exchange rates would change year-to-date 2026 reported revenue by approximately $4.0 million. Europe eCommerce represented approximately 7% of year-to-date revenue, and the company does not use derivatives to hedge this exposure.
- Variable-Rate Debt Sensitivity
- The ABL Facility carries variable-rate interest. If borrowings were fully drawn to $225.0 million, each one-percentage-point change in interest rates would alter annual cash interest expense by approximately $2.3 million.
- Capital Allocation Versus Liquidity
- The company spent approximately $10.6 million on share repurchases during the quarter, based on 910,253 shares purchased at an average $11.60, while $89.170 million remained authorized. Repurchases could reduce liquidity flexibility if operating cash generation remains pressured.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.09
- Gross margin
- 52.0%
- Segment
- U.S. eCommerce revenue increased 9.0%; total segment revenue amounts were not disclosed in the supplied filing text.
What they said about what is next.
The supplied 10-Q text does not include MD&A or a quantitative outlook section. Numeric guidance was reported in the accompanying earnings release, not in the provided filing excerpt.
The filing reads about the same as the one before it.
What came before.
- 10-Q · June 9, 2026
- Lands' End reported a disappointing Q1 2026 with revenues of $238.9 million, below expectations of $267.97 million, resulting in an operating loss of $44.1 million. However, net income showed a significant turnaround…
- 10-K · March 26, 2026
- Lands’ End reports Fiscal 2025 Net revenue of $1,335,146,000 with the U.S. Digital segment (U.S. eCommerce, Outfitters and Third Party) generating $1,162,769,000. Management announced a 50/50 joint venture with WHP…
- 10-Q · December 9, 2025
- Lands' End, Inc. reported a slight decrease in Q3 revenue at $317.5 million, down 0.4% year-over-year compared to $318.6 million in Q3 2024. However, the company achieved net income of $5.2 million, marking an…
- 10-Q · June 5, 2025
- Lands’ End reported Q1 net revenue of $261,208,000 (13 weeks ended May 2, 2025), down $24,263,000 versus $285,471,000 in the prior-year period, producing a net loss of $8,262,000, or $(0.27) per share. Gross margin…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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