The e-retailer heads into the holiday shopping season behind a 30% increase in fulfillment spending and a widening net loss. North American sales increased ...
The Lands’ End brand is pushing up apparel sales in Sears stores, helping to drive a 1.1% increase in overall third-quarter revenue to $7.3 billion, Sears, Roebuck and Co. reports. Lands` End is now in all full-line Sears stores.
The Lands’ End brand is pushing up apparel sales in Sears stores, helping to drive a 1.1% increase in overall third-quarter revenue to $7.3 billion, Sears, Roebuck and Co. reports. "We continue to see a broader sales improvement provided by our Lands’ End brands in Sears’ full-line stores, as comparable-store apparel sales for stores carrying the merchandise out-performed those without," said CEO Alan Lacy.
Sears said domestic comparable-store sales, or sales at stores open at least a year, rose 1.2% in Q3 over the same period last year. It attributed much of that increase to improved apparel sales, including its Covington private label as well as Lands’ End. Improved merchandise offerings resulted in comparable-store sales increases in the women’s ready-to-wear, men’s and footwear categories, Sears said.
Lacy noted that Sears completed the rollout of Lands’ End merchandise to 470 of its stores last month, and now carries Lands’ End in all of its more than 800 full-line stores. Sears acquired cataloger and web merchant Lands’ End last year for $1.9 billion.
Sears reported a Q3 operating loss of $85 million, compared to operating income of $42 million a year ago. It said the loss includes a pre-tax charge of $141 million related to the restructuring of its Great Indoors home furnishings stores.