Lands’ End shares rocket 26% after extending sales growth streak

Lands’ End Inc. shares have rocketed 26.4% in Thursday trading, the biggest percentage gain of its four-year history, after the company reported fourth-quarter sales and same-store sales growth. It’s the third consecutive quarter of sales growth after the apparel and accessories company reported 11 consecutive quarters of sales declines, according to Chief Executive Jerome Squire Griffith. On the earnings call, the company attributed the results to a number of factors including its digital efforts and contracts with American Airlines Group Inc. and Delta Air Lines Inc. . Lands’ End expects to roll out uniforms for 51,000 American Airlines workers in late 2019, and began delivering Delta uniforms late in the fourth-quarter of 2017. Lands’ End shares are up 11.5% for the past year while the S&P 500 index is up 14.4% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply