In an episode of the popular ABC show “Shark Tank” that aired last week, founders of the web-only fashion retailer ranked in the Second ...
Lands’ End total sales grew 8% during the holiday shopping season while Internet sales gained 35% over previous year. Web sales now account for nearly 20% of Lands’ End’s sales, up from 16% a year ago.
Internet sales at Lands’ End Inc. grew 35% for the holiday shopping season to $92 million, while total sales grew 8% to $462.6 million for the nine-week period that ended Dec. 28, Dodgeville, WI-based Lands’ End reported today. Internet sales now account for nearly 20% of Lands’ End revenue, up from 16% a year ago.
Lands’ End posted net income of $43.6 million on net revenue of $462.6 million for the nine-week period, up 29% from the $33.9 million in earnings a year ago.
An additional week in this year’s holiday period represented sales of $13 million. On a comparable eight-week calendar, total revenue was up about 5%, the company said. For the 48 weeks to date, the company reported net income of $64.7 million on revenues of $1.44 billion, up from the net income of $36.8 million on revenues of $1.35 billion in the comparable 47 weeks a year ago.
Lands’ End core business segment including apparel had sales of $276 million, an 8% gain from last year, while its specialty segment grew 6% to $111 million and its international business grew 18% to $40 million, lead by strong sales in Germany and the United Kingdom. Internet sales are included in the respective business segments.
Sales performance was driven in part by improved inventory management and a higher rate of initial fulfillment, the company said. The company shipped 88% of its merchandise immediately upon customer order, up from 80% last holiday. That has resulted in a lower level of inventory on hand to liquidate post-holiday, the company said.
“We provided our customers with great service, quality products and creative presentations. And our customers, in turn, rewarded us with a highly successful holiday season,” said CEO David Dyer.