Lands' End stock falls 4.01 percent as margins expand

Lands' End stock posted USD 302.0 million of fiscal Q2 revenue on July 31, 2026. Gross margin reached 52.0 percent, while adjusted EBITDA fell 25 percent to USD 11.3 million.

Lands' End stock stood at USD 10.28 on Nasdaq on September 23, 2026, down 4.01 percent from the prior close of USD 10.71. In its September 3, 2026 results release, the retailer reported higher revenue and a return to quarterly profit, while its full-year guidance remained a key valuation reference.

Revenue returns to growth

According to GlobeNewswire, Lands' End generated USD 302.0 million in net revenue for fiscal Q2 2026, the 13 weeks ended July 31, 2026. That was 2.7 percent above USD 294.1 million in the year-ago quarter, creating the article's clearest operating comparison.

The improvement was led by U.S. eCommerce revenue of USD 182.4 million, up 9.0 percent year over year, while Outfitters revenue increased 4.4 percent to USD 69.3 million. Third Party revenue moved in the opposite direction, falling 20.4 percent to USD 17.2 million, showing that growth was concentrated rather than broad-based.

Margins improve as costs rise

Gross profit reached USD 157.0 million, up 9.5 percent from USD 143.4 million, and gross margin expanded to 52.0 percent from 48.8 percent. The release attributed the margin improvement primarily to IEEPA tariff refunds, partly offset by a new royalty structure and temporary warehouse management system costs.

GAAP net income was USD 3.5 million, compared with a USD 3.7 million loss in fiscal Q2 2025. The adjusted picture was more restrained: adjusted net income was USD 2.7 million, while adjusted EBITDA fell 25 percent to USD 11.3 million from USD 15.1 million.

The earnings comparison was mixed. Nasdaq reported adjusted EPS of USD 0.09 against a USD 0.10 consensus estimate, while revenue of USD 302.04 million exceeded the USD 301.06 million estimate by 0.32 percent.

Guidance sets the next range

For fiscal Q3 2026, Lands' End guides to revenue of USD 300.0 million to USD 330.0 million, adjusted net income of USD 2.0 million to USD 6.0 million and adjusted EBITDA of USD 14.0 million to USD 18.0 million.

For the full fiscal year, the company expects revenue of USD 1.30 billion to USD 1.35 billion and adjusted EBITDA of USD 62.0 million to USD 70.0 million. The wide earnings range matters because it places execution, tariffs and cost control alongside sales growth in the near-term investment case.

Stock stays below yearly high

Lands' End stock was USD 10.28 on Nasdaq on September 23, 2026, with a 52-week range of USD 9.56 to USD 20.04. The quote stood 48.70 percent below the yearly high, while the market capitalization was USD 316.02 million.

Lands' End at a glance

• Company: Lands' End, Inc.
• Ticker: LE
• Trading venue: Nasdaq
• Price as of September 23, 2026: USD 10.28
• Market capitalization: USD 316.02 million as of September 23, 2026
• 52-week range: USD 9.56-20.04
• Sector / Industry: Consumer Cyclical / Apparel - Retail