Lands’ End Q4 net eCommerce revenue fell by 6.1 per cent to US$414.5m – this included the 30.8 per cent drop from its international subsidiaries which included its Japanese operation which it had already announced would close.
For its full year to 27th January ’23, US eCommerce had fallen by 7 per cent, with international eCommerce down by 24.6 per cent. Overall net revenue was US$1.56bn with eCommerce net revenue US$1.1bn
UK based managing director Constanze Freienstein has left the business this month with her duties now falling a US based director.
Commenting on the fourth quarter and full-year trading, Andrew McLean, CEO said: “We executed well throughout the fourth quarter to deliver sequential sales and margin improvement in each month of the quarter, resulting in revenue and adjusted EBITDA at the higher end of our expectations. We are pleased to this momentum continue in the first quarter, particularly in our core swim category.”