Lands' End rises after surprise Q1 profit

Lands End

02/06/2021 14:14

** Apparel retailer's shares  LE.O  rise 4% to $31.2
premarket after swinging to a surprise Q1 profit 
    ** Lands' End reports Q1 EPS of 8 cents on rev $321.3 mln,
while analysts were expecting loss of 29 cents/shr on rev of
$280.35 mln, as per Refinitiv est 
    ** Says gross margin expanded 260 bps to 46% in Q1, helped
by U.S. e-commerce channel; sees Q2 EPS of 5-12 cents and rev of
$345 mln-$355 mln
    ** "Our Global eCommerce business is stronger than ever as
we continued to execute our digitally led product and marketing
strategies," says CEO Jerome Griffith urn:newsml:reuters.com:*:nGNX7MXXtV
    ** Stock saw a 17% jump on Tues in its 8th straight day of
gains; LE up 39% YTD 

 (Reporting by Sruthi Shankar in Bengaluru)
 ((sruthi.shankar@thomsonreuters.com;))