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LANDS' END, INC.

CIK:0000799288|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Aug. 01, 2025	Jul. 31, 2026	Aug. 01, 2025
Income Statement [Abstract]
Net revenue	$ 302,038	$ 294,079	$ 540,954	$ 555,287
Cost of sales (exclusive of depreciation and amortization)	145,023	150,661	272,427	279,143
Gross profit	157,015	143,418	268,527	276,144
Selling and administrative	135,250	129,356	261,702	252,818
Depreciation and amortization	6,147	7,656	12,247	15,947
Equity method investment income	(4,243)	0	(4,439)	0
Other operating expense, net	11,674	2,423	34,938	5,766
Operating income (loss)	8,187	3,983	(35,921)	1,613
Interest expense	1,021	9,262	6,535	18,527
Gain on WHP transaction	0	0	(491,622)	0
Loss on extinguishment of debt	0	0	9,172	0
Other income, net	(1,051)	(3)	(915)	(14)
Income (loss) before income taxes	8,217	(5,276)	440,909	(16,900)
Income tax expense (benefit)	4,766	(1,609)	106,765	(4,971)
NET INCOME (LOSS)	$ 3,451	$ (3,667)	$ 334,144	$ (11,929)
NET EARNINGS (LOSS) PER COMMON SHARE
Basic:	$ 0.12	$ (0.12)	$ 11.12	$ (0.39)
Diluted:	$ 0.11	$ (0.12)	$ 10.96	$ (0.39)
Basic weighted average common shares outstanding	29,902	30,743	30,052	30,721
Diluted weighted average common shares outstanding	30,108	30,743	30,498	30,721

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2026	Aug. 01, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 334,144	$ (11,929)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	12,247	15,947
Amortization of debt issuance costs	424	1,391
Gain on disposal of property and equipment	(28)	0
Equity method investment income	(4,439)	0
Distributions received from equity method investment	2,411	0
Gain on WHP transaction	(491,622)	0
Loss on extinguishment of debt	9,172	0
Stock-based compensation	2,867	2,250
Deferred income taxes	57,073	(1,182)
Other	(346)	(422)
Change in operating assets and liabilities:
Accounts receivable, net	2,745	9,363
Inventories	(73,930)	(35,420)
Accounts payable	45,790	36,250
Other operating assets	3,387	(1,343)
Other operating liabilities	13,624	(14,436)
Net cash (used in) provided by operating activities	(86,481)	469
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of property and equipment	43	11
Proceeds from WHP transaction	300,000	0
Cash contribution to JV	(1,250)	0
Purchases of property and equipment	(24,013)	(17,163)
Net cash provided by (used in) investing activities	274,780	(17,152)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings under ABL Facility	142,000	68,000
Payments of borrowings under ABL Facility	(82,000)	(33,000)
Payments on term loan	(234,000)	(6,500)
Payments on debt extinguishment	(2,437)	0
Payments of debt issuance costs	0	(1,103)
Proceeds from exercise of stock options	908	0
Payments for taxes related to net share settlement of equity awards	(4,313)	(810)
Purchases and retirement of common stock, including excise tax paid	(10,848)	(4,513)
Net cash (used in) provided by financing activities	(190,690)	22,074
Effects of exchange rate changes on cash, cash equivalents and restricted cash	811	(657)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(1,580)	4,734
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	18,283	18,812
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	16,703	23,546
SUPPLEMENTAL CASH FLOW DATA
Unpaid liability to acquire property and equipment	4,085	1,725
Income taxes paid (refunded)	25,988	(153)
Interest paid	6,710	17,172
Operating lease right-of-use-assets obtained in exchange for lease liabilities	$ 148	$ 386

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2026	Jan. 30, 2026	Aug. 01, 2025
Current assets
Cash and cash equivalents	$ 16,113	$ 17,694	$ 21,255
Restricted cash	590	589	2,291
Accounts receivable, net	38,329	41,265	39,028
Inventories	342,040	268,803	301,797
Prepaid expenses	30,243	27,856	30,400
Other current assets	452	4,798	10,291
Total current assets	427,767	361,005	405,062
Property and equipment, net	128,576	115,701	117,205
Operating lease right-of-use asset	13,995	15,680	18,856
Equity method investment	377,589	0	0
Intangible asset	0	0	257,000
Asset held for sale	0	257,000	0
Other assets	1,639	1,680	2,518
TOTAL ASSETS	949,566	751,066	800,641
Current liabilities
Current portion of long-term debt	0	13,000	13,000
Accounts payable	162,346	115,436	147,846
Lease liability – current	4,540	4,434	4,609
Accrued expenses and other current liabilities	103,985	91,068	85,084
Total current liabilities	270,871	223,938	250,539
Long-term borrowings under ABL Facility	60,000	0	35,000
Long-term debt, net	0	214,211	219,550
Lease liability – long-term	12,128	14,264	17,986
Deferred tax liabilities	109,339	52,392	50,319
Other liabilities	4,358	1,966	2,123
TOTAL LIABILITIES	456,696	506,771	575,517
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 authorized: 480,000 shares; issued and outstanding: 30,023, 30,517 and 30,575, respectively	301	306	306
Additional paid-in capital	338,876	349,429	346,841
Retained earnings (accumulated deficit)	170,095	(88,850)	(106,287)
Accumulated other comprehensive loss	(16,402)	(16,590)	(15,736)
TOTAL STOCKHOLDERS’ EQUITY	492,870	244,295	225,124
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 949,566	$ 751,066	$ 800,641