Lands' End Q2: Revenue Up 2.7%, Gross Margin +320bps, But Adjusted EBITDA Falls 25%
LE is trading near its 52-week low of $9.56 (13% above the low).
Summary
Lands' End Q2 revenue rose 2.7% to $302M with gross margin up 320bps, but adjusted EBITDA fell 25% to $11.3M. The 10-Q also details the new CEO's compensation and a $100M buyback program.
Key Events · Earnings and Guidance · LE
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Q2 Revenue Up 2.7%, Margin Expands
Net revenue rose to $302.0M from $294.1M, with gross margin up 320bps to 52.0% driven by an IEEPA tariff refund.
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Adjusted EBITDA Falls 25%
Adjusted EBITDA declined to $11.3M from $15.1M, pressured by restructuring costs, JV royalty obligations, and warehouse management system disruptions.
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Balance Sheet Strengthened After WHP JV
Total stockholders' equity more than doubled to $492.9M from $244.3M at fiscal year-end; the $234M term loan was fully repaid using WHP Transaction proceeds.
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$100M Share Repurchase Program
Board authorized up to $100M in buybacks through March 2029; 910,253 shares repurchased in Q2 at an average $11.60 per share.
Analysis · LE · Trade & Services
Lands' End delivered a mixed quarter. Revenue grew 2.7% to $302.0M and gross margin expanded 320 basis points to 52.0%, driven by an IEEPA tariff refund. But adjusted EBITDA fell 25% to $11.3M as restructuring costs, JV royalty obligations, and warehouse management system disruptions weighed on profitability. The company also disclosed a $100M share repurchase program and new CEO Charlie Cole's compensation package. The balance sheet strengthened significantly after the WHP Global JV transaction — total stockholders' equity more than doubled to $492.9M from $244.3M at fiscal year-end, and the term loan was fully repaid.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 29.9% of the 1988 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, LE was trading at $10.82 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $332.6M. The 52-week trading range was $9.56 to $20.04. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.