Land's End cuts Q2 loss, opens new sourcing office in Hong Kong

Lands’ End, Inc. has reported that net revenue for the second quarter decreased 3.1 percent to 298.3 million dollars, reflecting 110 fewer Lands’ End Shops at Sears, which resulted in a net revenue decline from Sears operations of 19.9 million dollars. The company said, excluding the impact from the Delta Air Lines launch last year and Sears operations, revenue would have increased by 5.5 percent. However Land’s End managed to reduce net loss to 3 million dollars or 9 cents per diluted share compared to 5.3 million dollars or 16 cents per diluted share, in the second quarter of fiscal 2018. The company also announced the opening of a Lands’ End buying office in Hong Kong with the transition plan to be completed by the spring 2020 season.