Lands’ End financial struggles continue
Citing decreased international sales due to the currency exchange rate, Lands’ End Inc. reported continued losses in sales and services during the first quarter.
Ever since it parted ways with struggling Sears Holdings Corp. last year, the Dodgeville clothing company has suffered. The company missed analysts’ predictions on first quarter revenue by more than $20 million, although it beat earnings expectations by 2 cents, according to the Milwaukee Business Journal.
For the first quarter, Lands’ End reported net income of $1.7 million, or 5 cents per share, down from $10.9 million, or 34 cents per share, for the same period the year before. Revenue declined to $146.6 million, compared with $162 million in the first quarter of 2014.