In its second-largest acquisition, Amazon buys the company for $970 million.
Lands` End Internet sales jumped 58.7% for the year-$218 million up from $138 million in fiscal 2000.
Lands` End Inc. reported results for its fourth quarter and fiscal year ended January 26, 2001. The results show Internet sales jumped 58.7% for the year-$218 million up from $138 million in fiscal 2000. Online sales also grew in Q4 from $59 million in fiscal 2000 to $86 million in fiscal 2001, a 46% increase.
Total revenue for the fourth quarter of fiscal 2001 was $538.6 million, up 11.5% from $483.1 million in the prior year. Net income for the quarter just ended was $31.8 million, up 12.3% from $28.3 million a year ago. Total revenue for the 52-week year just ended was $1.462 billion, up 3.2% from $1.417 billion in the prior year. Net income for the year just ended was $34.7 million, down 27.8% from the $48.0 million earned in fiscal 2000.