Lands' End Posts Strong Gains for Q1
The dismal economic slump that has impacted many catalogers has had little effect on cataloger and Internet retailer Lands' End, which saw its revenue for the first quarter rise 9 percent to $311.1 million, according to results released yesterday.The quarter, which ended April 27, saw net income increase to $5.9 million compared with last year's $292,000.
The addition of its children's catalog and the shifted timing of its clearance catalog accounted for two-thirds of the first-quarter sales increase. The company also is crediting its success to growth in the core business segment, led by its women's and co-ed divisions, and to mailing its core May catalog a week earlier than last year.
Gross profit for the quarter was $132 million, or 42.2 percent of total revenue, compared with $120 million, or 41.9 percent, in the prior year.
