Lands' End forecasts loss for FY22; shares drop

Lands End

01/12/2022 17:14

** Shares of casual-wear chain Lands' End Inc  LE.O  down
8.5% at $26.73 
    ** Co cuts FY revenue outlook to between $1.54 bln and $1.56
bln, from prior view of $1.60 bln to $1.64 bln; analysts expect
$1.65 bln - Refinitiv data
    ** Now sees FY loss per share between 18 cents and 27 cents,
vs prior forecast of a profit per share of 49 cents to 70 cents
    ** Attributes its revised outlook to account for the
uncertain macro environment
    ** Adds FY outlook assumes rising transportation costs due
to global supply chain challenges
    ** LE Q3 rev fell 1.3% to $371 mln; loss/shr of 14 cents
    ** Profitability in quarter affected by rising raw material
costs weighing in on gross margins
    ** As of last close, LE down ~45% YTD
 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))