Lands' End, Inc., a unichannel retailer, announced on Wednesday that its net loss for the fourth quarter expanded to $8.62 million or $0.27 per share, as compared to $3.3 million or $0.10 per share from the same quarter of the previous year.
When factoring out certain items, the company's adjusted earnings for this quarter came to $0.25 per share, exhibiting a turnaround from the adjusted net loss of $0.04 per share experienced in the quarter a year ago.
The company's net revenue for the quarter fell by 2.8%, coming down to $514.85 million from the previous year's figure of $529.60 million. This deviates from the Thomson Reuters analysts' projections, which saw the company reporting earnings of $0.21 per share on revenues amounting to $502.71 million. These projections typically do not account for special items.
Looking forward into the next quarter, Lands' End forecasts a net loss spanning from $0.32 to $0.25 per share, and an adjusted loss ranging between $0.30 and $0.24 per share. The expected net revenue for the first quarter is set to be within the window of $255.0 million to $285.0 million.
As for the fiscal-year outlook for 2024, Lands' End predicts earnings in the region of $0.03 to $0.32 per share, with adjusted earnings projected within the space of $0.10 and $0.38 per share. The company expects a net revenue within the broad spectrum of $1.33 billion and $1.45 billion. Analysts are expecting Lands' End to report earnings of $0.03 per share on revenues of about $1.43 billion for the year.
