For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
Internet sales at Lands’ End reached $54 million in the first quarter, up from $39 million in the year-ago quarter.
Internet sales at Lands’ End Inc. grew 40% in the first quarter (ended April 27) over the first quarter a year ago, reaching $54 million vs. $39 million a year ago. Lands’ End’s total revenue for the first quarter grew 9% to $311.1 million from $285.8 million in the prior year`s quarter. Net income for the quarter just ended was $5.9 million vs. net income of $292,000 for the same period last year. "We`re extremely pleased with our first quarter performance, having demonstrated strong sales and a significant improvement in earnings,” said David F. Dyer, president and CEO. “This was especially gratifying in the face of a difficult economy. "
Gross profit for the quarter just ended was $132 million, or 42.4% of total revenue, compared with $120 million, or 41.9% of total revenue in the prior year. Merchandise gross profit margin rose due to higher initial margins from improved sourcing.