Lands' End falls on warning of hit to gross margins

Lands End

02/09/2021 18:37

** Shares in casual apparel chain  LE.O  fall as much as 12%
to a three-month low of $30.12, last down 8.3%
    ** LE expects its H2 gross margins to come under pressure
from higher shipping costs as it deals with shipping delays,
port congestion and manufacturing interruptions, particularly in
Vietnam
    ** Getting products in stores is a challenge even as LE
expects strong demand in H2, CFO Jim Gooch says on earnings call
 urn:newsml:reuters.com:*:nTRNblY2rJ
    ** However, LE raises forecasts for fiscal year 2021 revenue
and profit  urn:newsml:reuters.com:*:nGNX1hTx5P
    ** Shares in American Eagle Outfitters  AEO.N  down about
10% on quarterly revenue miss  urn:newsml:reuters.com:*:nL4N2Q42G4
    ** LE up about 46% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))