Lands’ End shares jump premarket after retailer raises fourth-quarter guidance

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Lands’ End Inc. shares soared 6.8% in premarket trade Tuesday, after the retailer raised guidance for the fourth quarter and said its global e-commerce business performed strongly over the holiday season. The company is now expecting fourth-quarter revenue to range from $528 million to $533 million, up from prior guidance of $500 million to $520 million. The FactSet consensus is for revenue of $512 million. The company expects per-share earnings to range from 54 cents to 58 cents, up from prior guidance of 41 cents to 53 cents. The FactSet consensus is for EPS of 47 cents. Longer term, the company is targeting revenue of $1.9 billion to $2.1 billion over the next three years, equal to a compound annual growth rate of 10% to 14%. Growth will be driven by U.S. and international e-commerce, a recovery in the outfitters business after the pandemic and third-party channel expansion. The company offered the updated guidance ahead of a presentation at the Annual ICR Conference, which is being held virtually this year. Shares have gained 58% in the last 12 months, while the S&P 500 has gained 16%.
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