Lands' End sinks on Q3 sales miss due to supply chain snags

Lands End

02/12/2021 14:25

** Shares in casual apparel chain  LE.N  drop 16% premarket
to 18.45% - set for their lowest in nearly a year - on earnings
miss
    ** Co posts Q3 revenue of $375.8 mln, missing analysts'
estimates of $397.05 mln - Refinitiv data
    ** LE also expects Q4 EPS of between 27 cents and 36 cents,
well below average estimates of 65 cents, according to Refinitiv
data
    ** Co cites supply chain delays hampering its Q3 performance
and early Q4 sales
    ** In September, the firm said it expects its H2 gross
margins to be hit by higher shipping costs as it faces shipping
delays, port congestion and manufacturing interruptions,
particularly in Vietnam  urn:newsml:reuters.com:*:nL4N2Q436U
    ** YTD, shares up 2%

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))