Lands' End Plummets Almost 25% on Weak Sales Outlook

Lands' End (LE Quote) warned Thursday that fourth-quarter sales would miss projections, sending the catalog retailer's stock plummeting.

In midmorning trading, Wall Street punished the company, which sells items like clothing, luggage and bedding through mail-order catalogs and outlet stores, pushing shares lower by 19 3/4, or 24%, to 63 9/16. (The stock closed down 24 13/16 to 58 1/2.)

The pullback makes for a reversal in Lands' End's recent fortunes: The stock had risen steadily from the mid-20s in January to a high of 83 1/2. Shares closed Wednesday at 83 5/16. ...