November 12, 1999
*Lands' End Sales Down; Stock Takes a Dive
Shares of Lands' End Inc., Dodgeville, WI, plummeted yesterday after the company reported fiscal third-quarter results and forecast fourth-quarter sales to be down from last year. After steadily gaining ground and frequently hitting 52-week highs for more than a year, Lands' End's stock lost one-third of its value yesterday. The direct merchant of casual wear reported earnings of $8.75 million on sales of $326 million, up from earnings of $347,000 on revenue of $322 million in the same period last year. Fourth-quarter sales will be "somewhat down" from last year because it plans to reduce page circulation by about 20 percent in the last half of fiscal 2000.