Lands' End gains on $50 million buyback plan

Lands End

28/06/2022 13:10

** Shares in casual clothing chain Lands' End  LE.O  rise
1.3% to $11.51 before the bell
    ** LE says its board has authorized repurchase of up to $50
mln of its common stock through end of its fiscal 2023
    ** As of Monday's close, LE had market capitalization of
$379.6 mln - Refinitiv
    ** Repurchase will be funded through cash on hand, cash from
operations, borrowings under its senior secured credit facility
or a combination of the three - LE
    ** LE also continues to explore debt refinancing options
    ** As of April 29, LE had $254.4 mln of term loan debt
outstanding
    ** Through last close, LE had declined 42% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))