Clothing maker Lands' End (LE) - Get Lands' End Inc. Report on Thursday reported a fiscal fourth-quarter profit that beat analysts' forecasts and lifted its guidance for its upcoming full fiscal year.
The Dodgeville, Wisconsin-based company said it earned $16.2 million, or 50 cents a share, in the quarter ended Feb. 1, compared with $39.8 million, or $1.24 a share, in the comparable year-earlier period. Analysts polled by FactSet had been expecting earnings of 41 cents a share.
Revenue for the quarter came in at $502.3 million, also above analysts' forecasts. Same-store sales, a key metric for retail businesses, declined 3%, though company-operated Lands' End stores showed a gain of 3.9%.
For the fiscal year, the company earned $11.6 million, or 36 cents a share, vs. $28.2 million, or 88 cents a share the year before. Revenue was $1.45 billion.
For the current quarter ending in May, Lands' End said it expects revenue in the range of $255 million to $265 million. For its full year, it is expecting earnings to be 25 cents to 45 cents a share, with revenue ranging from $1.45 billion to $1.5 billion.
Shares of Lands' End were up nearly 5% at $18.04 in early trading on Thursday. The stock has climbed more than 20% since the start of the year.
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