LENasdaqRetail-Family Clothing StoresUS GAAP · USD

Lands' End, Inc

Lands’ End, Inc. sells solution-based apparel and related lifestyle products through its own digital channels, third-party distribution, company-operated stores, and licensing partners. The company’s assortment spans swimwear, outerwear, uniforms, accessories, footwear, and home products, with a strong emphasis on customer service and a classic American brand identity.

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Revenue1,335m USD
−2.0 %y/y
Operating profit (EBIT)44.3m USD
−13.1 %y/y
EBIT margin3.3%
−0.4 ppy/y
Net income5.5m USD
−11.6 %y/y
Free cash flow20.4m USD
+32.7 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-50005001,0001,5002,000m USD2021: 1,427 m USD2021: EBIT 41 m USD20212022: 1,637 m USD2022: EBIT 80 m USD20222023: 1,555 m USD2023: EBIT 25 m USD20232024: 1,473 m USD2024: EBIT -78 m USD20242025: 1,363 m USD2025: EBIT 51 m USD20252026: 1,335 m USD2026: EBIT 44 m USD20261,33544
RevenueOperating profit (EBIT)
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Business

Share of revenue
Apparel55 %

Core clothing assortment including casual wear, outerwear, swimwear, and uniforms.

Accessories and Footwear15 %

Complementary products sold alongside apparel to broaden basket size and brand reach.

Home Products10 %

Soft home and lifestyle goods marketed under the Lands' End brand.

Outfitters and B2B12 %

Uniforms and branded merchandise sold to businesses, schools, and institutions.

Third Party and Licensing8 %

Revenue from wholesale-style distribution channels and licensed brand usage.

Products

Reported · share of revenue
62.2%18.1%FY2026100 %
  • U Se Commerce62.2 %
  • Business Outfitters Revenue18.1 %
  • Third Party6.8 %
  • Europe E Commerce6.8 %
  • Licensing and Retail6.2 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Lands’ End serves consumers who shop for practical, value-oriented apparel and home goods through eCommerce, catalogs, stores, and marketplaces. It also sells to businesses and schools through Outfitters, where buyers want uniforms and branded merchandise with consistent quality and fulfillment. Third-party distribution and licensing extend the brand to customers who may not buy directly from Lands’ End but still purchase Lands’ End-branded goods.

Direct-to-consumer households

Buy apparel, swimwear, outerwear, accessories, and home products for everyday use and seasonal needs.

Outfitters business and school accounts

Purchase uniforms and branded merchandise for employees and students, valuing consistency and fulfillment reliability.

Third-party distribution customers

Buy Lands' End products through external retail and distribution partners that expand reach beyond owned channels.

Licensing partners

Use Lands' End trademarks on select products and markets to extend brand presence with limited capital intensity.

Strategy

Management is focused on using customer data, digital tools, and service quality to make shopping more convenient and personalized. The company is also reducing corporate overhead, investing in key growth areas, and evaluating strategic alternatives to maximize shareholder value. Operationally, it is working to improve fulfillment, channel execution, and brand monetization across direct, wholesale, licensing, and B2B channels.

Digital and customer experience improvementShort term

The brand competes on convenience, personalization, and service in a crowded apparel market.

Cost optimization and organizational simplificationShort term

Lower overhead supports profitability and frees resources for growth initiatives.

Channel diversificationMedium term

Multiple channels reduce reliance on any single demand stream and broaden brand reach.

Brand monetization and product innovationMedium term

Trademark strength and product differentiation are central to repeat purchasing and licensing value.

Geography

Q2/2026

The company is headquartered in the United States and generates most of its business there, while also serving international customers through Europe eCommerce and other select markets. It operates three distribution centers in Wisconsin and a distribution center in Oakham, United Kingdom, which supports fulfillment outside the U.S. Geography matters because the business depends on cross-border sourcing, international trade compliance, and regional fulfillment efficiency.

United States91 %
Europe8.9 %

Share of the revenue the company reports by geography.

Risks

Lands’ End faces execution risk from its digital platform, fulfillment network, and inventory seasonality, since a large share of revenue is concentrated in the fourth quarter. It also depends on third-party vendors, freight carriers, and international sourcing, which exposes the company to supply chain disruption, trade, labor, and logistics cost pressure. Cybersecurity, privacy compliance, and the performance of company-operated stores are additional risks that can directly affect customer trust and operating results.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Seasonality and fourth-quarter concentration1Cybersecurity and privacy compliance2Supplier and sourcing disruption3Freight and logistics cost inflation4Store execution risk5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Seasonality and fourth-quarter concentrationImpact: HighLikelihood: Medium

    The company historically generates a large share of annual revenue in the fourth quarter, so weak holiday demand can materially affect full-year results.

    Exposure: Fourth-quarter net revenue and earnings

  2. Cybersecurity and privacy complianceImpact: HighLikelihood: Medium

    The business relies on customer data, digital commerce systems, and online fulfillment, making breaches or outages operationally disruptive and legally costly.

    ExposureECommerceCustomer dataInternal systems
  3. Supplier and sourcing disruptionImpact: HighLikelihood: Medium

    The company does not own manufacturing facilities and depends on independent vendors for merchandise production.

    ExposureProduct availabilityLead timesGross margin
  4. Freight and logistics cost inflationImpact: MediumLikelihood: Medium

    Outbound shipping depends on third-party carriers and is exposed to labor shortages, weather, and rate increases.

    Exposure: Delivery performance and fulfillment cost

  5. Store execution riskImpact: MediumLikelihood: Medium

    Company-operated stores require traffic, inventory allocation, and local marketing to work profitably.

    Exposure: Retail sales and store-level profitability

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Accounting

Judgemental items
Revenue recognition timing

Sales shipped from distribution centers are recognized when customers receive the product, so shipping cutoffs affect quarterly revenue.

Impact: Quarterly revenue comparability

Inventory valuation

Apparel inventory is exposed to markdowns, seasonality, and obsolescence, which can pressure gross margin.

Impact: Gross margin and balance sheet inventory

Goodwill impairment

Prior impairment charges show that reporting unit valuations can change quickly when market conditions weaken.

Impact: Non-cash impairment expense

Indefinite-lived trade name impairment

The Lands' End trade name is tested using a relief-from-royalty model that depends on revenue and discount-rate assumptions.

Impact: Intangible asset carrying value

Seasonal working capital

Inventory builds in the second and third quarters and declines in the fourth quarter, affecting cash flow timing.

Impact: Operating cash flow and liquidity

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Last updated: 24/09/2026

Lands' End, Inc (LE) Revenue, Earnings & Financials 2025 – Clarifo