Lands’ End (NASDAQ:LE) shares jumped Wednesday after the apparel and home-goods retailer reported fourth-quarter earnings and sales that topped analysts’ estimates.
The company also offered a better-than-expected outlook for the current quarter, and anticipates sales and profits to grow for the full year.
Net income for the period fell to $19.9 million, or 60 cents per share, compared with $25.5 million or 78 per share, a year earlier. That came in better than the 56 cents per share expected by analysts.
Revenue declined about 2% to $538.4 million from $549.5 million in the year-ago period. That also came in better than the $530.9 million forecast by analysts.
Lands’ End said its online sales globally rose 7.5%, including a 38% increase in e-commerce sales in Europe, and a 3.7% increase in the United States.
“We were well positioned to capitalize on the accelerated shift to online as a digitally-led company,” Chief Executive Jerome Griffith said in a statement.
The company expects its 2021 revenue to be within $1.52 billion and $1.57 billion, with earnings per share of 34 cents to 58 cents. In fiscal 2020, the company’s revenue was $1.43 billion, with earnings of 33 cents a share.
It’s calling for first-quarter revenue of $275 million to $285 million, with a loss of 25 cents to 32 cents per share. Analysts had forecast the company’s revenue amounting to $240.6 million, on a loss of 47 cents per share.
Lands’ End shares are up more than 670% over the past 12 months. The company has a market cap of $1.15 billion.
LE shares took on 50 cents, or 1.4%, to $35.70.