Lands’ End Inc fell 4% as quarterly earnings were lower than expected, as did future cuts.
The US company posted a net profit of $ 7.4 million, or 22 cents a share, for the quarter to Oct. 29, compared with estimates for $ 7.2 million, or 22 cents a share, a year ago.
Revenue rose 4.4 percent to $ 375.8 million from $ 360 million a year ago.
Convergent estimates spoke of 21 cents earnings per share and $ 398 million in revenue. Margins were reduced by 100 basis points, due to higher shipping costs amid challenges in the supply chain.
The company now expects earnings per share in the fourth quarter of 27-36 cents, and revenue of 560-575 million dollars.
Convergent estimates point to earnings per share of 65 cents and revenue of $ 591 million.
For the whole year, it expects earnings per share of 1.04-1.13 dollars and revenues of 1.640-1.655 billion dollars.
Convergent estimates point to earnings per share of $ 1.42 billion and revenue of $ 1.691 billion.
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Source From: Capital
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