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Lands'' End (LE) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 3, 2026 · Lands'' End (LE) Q2 FY27 earnings results →

Q2 FY27 Revenue up 5% year over year to $269M · 1¢ of every $1 of revenue kept as net profit · operating margin 3.0%

Lands'' End made $269M in Q2 FY27 (+5% Y/Y). Operating margin 3.0%, net earnings $3.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 3, 2026.

Revenue$269M
Year over year+5%
Operating margin3.0%
Net earnings$3.5M
Operating cash flow−$12.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $268.9M in Q2 FY27, up 5% year over year and up 31% from the previous quarter. U Se Commerce was the largest line at 68% of revenue. U Se Commerce added $15.1M year over year (up 9%), 111% of the total change. Licensing and Retail declined 30%.

Gross margin was 58.4%, up 2.2 points from Q2 FY26. Operating profit was $8.2M, a 3.0% margin (up 1.5 points year over year). Of the extra revenue versus Q2 FY26, 31% reached operating profit, above the 2% margin then. Operating expenses grew 7% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+35%). Net earnings were $3.5M. The effective tax rate was 58.0%.

Operating cash flow was −$12.3M. Non-cash charges added back $6.1M of depreciation and amortization. Working capital and other items used $21.9M. Capital expenditures of $13.8M exceeded it, leaving free cash flow of −$26.1M.

Quarterly history

Lands'' End revenue by quarterLands'' End revenue by quarter$382MQ4 FY25$228MQ1 FY26$255MQ2 FY26$277MQ3 FY26$402MQ4 FY26$205MQ1 FY27$269MQ2 FY27
Lands'' End net earnings by quarterLands'' End net earnings by quarter$18.5MQ4 FY25−$8.3MQ1 FY26−$3.7MQ2 FY26$5.2MQ3 FY26$12.3MQ4 FY26$331MQ1 FY27$3.5MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 3, 2026$269M+5%3.0%$3.5M−$12.3M
Q1 FY2710-QJun 9, 2026$205M-10%-21.5%$331M−$74.2M
Q4 FY2610-KMar 26, 2026$402M+5%6.4%$12.3M$64.8M
Q3 FY2610-QDec 9, 2025$277M+1%6.0%$5.2M−$15.7M
Q2 FY2610-QSep 9, 2025$255M-6%1.6%−$3.7M$22.9M
Q1 FY2610-QJun 5, 2025$228M-0.4%-1.0%−$8.3M−$22.5M
Q4 FY2510-KMar 27, 2025$382M-26%9.7%$18.5M$65.4M

Charts

Lands'' End: revenue growth, year over year and quarter over quarterLands'' End: revenue growth, year over year and quarter over quarterY/YQ/Q-26%Q4 FY250%-40%Q1 FY26-6%+12%Q2 FY26+1%+9%Q3 FY26+5%+45%Q4 FY26-10%-49%Q1 FY27+5%+31%Q2 FY27
Latest (Q2 FY27): Y/Y +5%, Q/Q +31%.
Lands'' End: where the cash came from (+) and went (−), TTM to Q2 FY27Lands'' End: where the cash came from (+) and went (−), TTM to Q2 FY27Other investing$299MNet borrowing (+) / repaid (−)−$216MOperating cash flow−$37.3MCapital spending−$36.1MOther financing−$19.2MCash drawn (+) / kept (−)$6.8MShares issued$1.8MExchange rates$565KAsset & business sales$84K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Lands'' End: profit against cash, quarter by quarterLands'' End: profit against cash, quarter by quarterNet incomeOperating cash flow−$593K−$17.1MQ3 FY25$18.5M$65.4MQ4 FY25−$8.3M−$22.5MQ1 FY26−$3.7M$22.9MQ2 FY26$5.2M−$15.7MQ3 FY26$12.3M$64.8MQ4 FY26$331M−$74.2MQ1 FY27$3.5M−$12.3MQ2 FY27
Latest (Q2 FY27): Net income $3.5M, Operating cash flow −$12.3M.
Lands'' End: diluted shares by fiscal yearLands'' End: diluted shares by fiscal year33MFY2134MFY2233MFY2332MFY2432MFY2531MFY26
-5.0% since FY21: buybacks shrank the count.
Lands'' End in its industry: growth against margin (10 companies, SIC 5651)Lands'' End in its industry: growth against margin (10 companies, SIC 5651)revenue growth, year over year →↑ operating marginmedian +5%median 17%TJXROSTGAPURBNAEOANFBKEPLCEDXLGLE (+5%, 3%)
Retail-Family Clothing Stores; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Lands'' End

Lands’ End, Inc. (NASDAQ:LE) is a leading digital retailer of solution-based apparel, swimwear, outerwear, accessories, footwear, home products and uniforms. Lands’ End offers products online at www.landsend.com , through third-party distribution channels and our own Company Operated stores. Lands’ End also offers products to businesses and schools, for their employees and students, through the Outfitters distribution channel. Lands’ End is a classic American lifestyle brand that creates solutions for life’s every journey.

In its own words, from its 8-K, filed Sep 3, 2026.

Lands'' End against its Retail-Family Clothing Stores peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +5%. Operating margin: 3.0% against the peers' median 17.4%.

CompanyQuarterRevenueY/YOp. margin
LE Lands'' EndQ2 FY27$269M+5%3.0%
TJX TJX CompaniesQ2 FY27$15.2B+5%13.3%
ROST Ross StoresQ2 FY27$6.3B+13%17.6%
GAP GapQ2 FY27$3.7B-2%18.5%
URBN Urban OutfittersQ2 FY27$1.7B+10%17.4%
AEO American Eagle OutfittersQ2 FY27$1.4B+8%15.3%
ANF Abercrombie & FitchQ2 FY27$1.3B+5%19.9%
BKE BuckleQ2 FY27$320M+5%17.4%
PLCE Childrens PlaceQ2 FY27$242M-19%-5.4%

Source: Lands'' End 10-Q on SEC EDGAR · CIK 799288 · Retail-Family Clothing Stores

13F: who owns LE and who is buying

Largest holders of LE (13F)Largest holders of LE (13F)Dimensional Fund Advisors LP$12.1MVanguard Group$10.4MBlackRock$9.2MTowerview LLC$9.0MArrowstreet Capital, Limited Part…$6.0MAmerican Century Companies$5.7MVanguard Capital Management LLC$5.2MBank of America$3.9MUBS Group AG$3.4MGamco Investors, Inc. et Al$3.1M
Funds' net buying of LE by quarter (13F)Funds' net buying of LE by quarter (13F)−$1.9M2024-09−$716K2024-12−$4.3M2025-03−$17.7M2025-06−$1.8M2025-09$4.6M2025-12$39.1M2026-03−$18.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LE

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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