The modest beat is overshadowed by lowered full-year guidance, suggesting management sees headwinds in H2. Monitor holiday season execution and tariff developments. The $89.2M buyback authorization provides a floor, but underlying operational momentum remains uncertain.
Price Chart
Executive Summary
Lands' End reported Q2 FY2026 revenue of $302.0M (+2.7% YoY), beating consensus of $301.1M, and GAAP EPS of $0.11 vs $0.10 consensus (beat). Gross margin expanded 320 bps to 52.0%, boosted by a $24.9M tariff refund. However, adjusted EBITDA declined 25% to $11.3M, and full-year guidance was lowered: revenue top end cut from $1.40B to $1.35B and adjusted EBITDA range narrowed from $68M-$78M to $62M-$70M. The beat is marginal and the lowered guidance tempers the positive headline.
Key Financial Metrics
Key Facts
- Q2 revenue $302.0M (+2.7% YoY) vs consensus $301.1M
- GAAP diluted EPS $0.11 vs consensus $0.10 (beat)
- Gross margin 52.0%, up 320 bps YoY, driven by $24.9M IEEPA tariff refund
- Adjusted EBITDA $11.3M, down 25% from $15.1M in Q2 2025
- Full-year FY2026 guidance lowered: revenue $1.30B-$1.35B (top end down $50M), adjusted EBITDA $62M-$70M (down from $68M-$78M)
- Repurchased $10.5M of stock in Q2; $89.2M remaining under $100M buyback program
- New CEO Charlie Cole joined in Q2
Financial Impact
Revenue beat by $0.9M (0.3%), EPS beat by $0.01 (10%). Full-year adjusted EBITDA guidance lowered by ~$7M at midpoint.
Risk Factors
- Tariff uncertainty and potential for renewed IEEPA tariffs
- Inventory build (+13% YoY) could pressure margins if demand softens
- Operational execution risk from warehouse management system transition
- Consumer discretionary spending sensitivity in a potentially slowing economy
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-380961 |
| Document: le-20260903.htm | 0001193125-26-380961 |
| Document: 0001193125-26-380961-index-headers.html | 0001193125-26-380961 |
| Document: 0001193125-26-380961-index.html | 0001193125-26-380961 |
| Document: 0001193125-26-380961.txt | 0001193125-26-380961 |
| 8-K Data (Synthetic) | 0001193125-26-380961 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 19d ago | 144 | $10.39 | awaiting T+20 | — | $9.57 (−7.89%) |
Sep 3, 2026 7w ago | 8-K | $10.82 $10.29 | ▼ −4.90% | ▼ −3.71% | $9.57 (−11.55%) |
Sep 3, 2026 7w ago | Press Release | $10.82 $10.29 | ▼ −4.90% | ▼ −3.71% | $9.57 (−11.55%) |
Aug 20, 2026 9w ago | Press Release | $12.05 | awaiting T+20 | — | $9.57 (−20.58%) |
Jul 10, 2026 15w ago | 8-K | $11.43 $13.07 | ▲ +14.35% | ▲ +11.16% | $9.57 (−16.27%) |
Jun 30, 2026 16w ago | 8-K | $10.50 $12.31 | ▲ +17.24% | ▲ +19.42% | $9.57 (−8.86%) |
Jun 9, 2026 19w ago | 8-K | $12.16 $12.05 | ▼ −0.90% | ▼ −2.35% | $9.57 (−21.30%) |
May 26, 2026 21w ago | Press Release | $12.28 | awaiting T+20 | — | $9.57 (−22.07%) |
Apr 1, 2026 29w ago | Press Release | $11.56 $10.98 | ▼ −5.02% | ▼ −14.74% | $9.57 (−17.21%) |
Mar 27, 2026 30w ago | DEFA14A | $11.74 $11.11 | ▼ −5.37% | ▼ −17.96% | $9.57 (−18.48%) |
US Market Status
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