Net Loss of $2.4m (£1.9m) Compared to Net Income of $2.6m (£2m) in Q1 2021

  • Lands End’s Q1 revenue decreased by 5.5% to $303.7m (£241.6m) compared to the same period last year
  • Global sales fell 15.7%, while international sales dropped 21.7% due to supply chain and macroeconomic challenges
  • Adjusted EBITDA for Q1 was $13.8m (£10.9m) compared to $22.5m (£17.9m) in the same period last year
  • The company expects net revenue between $335m (£266.5m) and $350m (£278.4m for Q2
  • Net loss is predicted to be between $6m (£4.7m) and $3m (£2.3m in Q2
  • Adjusted EBITDA range for Q2: $10m (£8m) to $14m (£11m)
  • Tim Gooch, CFO, remains confident in growth targets despite ongoing challenges

Lands End has reported a 5.5% decrease in revenue for the first quarter of 2022, with net revenue dropping to $303.7 million (£241.6m), compared to $321.3 million (£255.6m) during the same period last year. Global sales fell by 15.7%, and international sales declined by 21.7% due to delayed receipts of key products caused by global supply chain issues and macroeconomic challenges. Adjusted EBITDA for Q1 was $13.8 million (£10.9m), down from $22.5 million (£17.9m) in the same period last year. The company anticipates net revenue to be between $335 million (£266.5m) and $350 million (£278.4m) for Q2, with a predicted net loss of between $6 million (£4.7m) and $3 million (£2.3m. Adjusted EBITDA is expected to be in the range of $10 million (£8m) to $14 million (£11m). Despite ongoing supply chain delays and consumer inflation, Tim Gooch, President and CFO, remains confident in their growth targets.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Lands End’s financial performance, including revenue, sales, and EBITDA figures for the first quarter of 2022, as well as their expectations for the second quarter. It also includes a quote from the company’s president and CFO discussing the challenges faced by the industry and their confidence in their growth targets.
Noise Level: 3
Noise Justification: The article provides relevant financial information about Lands End’s performance and includes a statement from the company’s president/CFO addressing the challenges faced by the industry and their outlook for the future. It does not contain irrelevant or misleading information, nor does it dive into unrelated topics. The report is based on data and provides actionable insights about the company’s expectations for the remainder of the year.
Financial Relevance: Yes
Financial Markets Impacted: Lands End’s stock price and related retail sector stocks
Financial Rating Justification: The article discusses Lands End’s financial performance, including revenue, EBITDA, and future expectations, which are relevant to investors and the company’s stock value. It also mentions supply chain challenges and consumer inflation that can impact financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events mentioned in the article.

Reported publicly: www.retailsector.co.uk