Lands' End reports 11.7 percent increase in Q1 net revenue

Lands' End, Inc. reported net revenue for the first quarter ended May 4, 2018 of 299.8 million dollars, an increase of 11.7 percent compared to the first quarter last year. Direct segment net revenue increased 19.7 percent to 273.4 million dollars, while retail segment net revenue decreased 34 percent to 26.5 million dollars due to fewer Lands' End Shops at Sears. Same store sales declined 18.9 percent and same store sales in Lands' End Shops at Sears locations declined 20.4 percent, while same store sales in the company operated stores declined 9.9 percent.