Land's End Q4 revenues rise 9.4 percent

Net revenues for the fourth quarter at Lands’ End, Inc. increased 9.4 percent to 549.5 million dollars reflecting revenue from the American Airlines launch and ecommerce growth of 7.2 percent. The company said, this was partially offset by 49 fewer Lands’ End Shops at Sears, which resulted in a net revenue decline from Sears operations of 21.5 million dollars. U.S. ecommerce revenue growth of 7.4 percent, the company added, was driven by increased demand for key items and a growth in new customer acquisition. Gross margin for the quarter increased by approximately 90 basis points to 39.8 percent, while net income was 25.5 million dollars or 78 cents per diluted share compared to 16.2 million dollars or 50 cents per diluted share in the fourth quarter of fiscal 2018. The company’s adjusted EBITDA grew by 29.7 percent to 49.3 million dollars.