Lands' End, Inc.

landsend.com

What Do They Do?

Sells apparel and home products to consumers online and in stores, and uniforms to businesses and schools.

How Do They Make Money?

Customers pay for merchandise when orders arrive or at an in-store sale. Licensees pay royalties based on licensed-product sales, subject to annual minimums; some also pay fulfillment fees when licensed products reach customers.

revenue

Segment	Share	How money arrives
US eCommerce Sold outright	62% FY2022: 61%	Sold outright
Outfitters Sold outright	18% FY2022: 17%	Sold outright
Third Party Sold outright	6.8% FY2022: 5.6%	Sold outright
Total U.S. Digital Segment Revenue Sold outright	87% FY2022: 84%	Sold outright
Europe eCommerce Sold outright	6.8% FY2022: 11%	Sold outright
Licensing and Retail	6.2% FY2022: 5.1%

Who Are Their Customers?

Consumers shop through Lands’ End’s website and stores, as well as third-party marketplaces; businesses and schools buy uniforms through Outfitters, which also serves employees and student households through school relationships.

Do Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.

Operating income, FY2025

4% of revenue

▼ −13% vs FY2024 ($51M, 4%)

Net income, FY2025

0% of revenue

▼ −12% vs FY2024 ($6.2M, 1%)

Free cash flow, FY2025

2% of revenue

▲ +33% vs FY2024 ($15.4M, 1%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jul 31, 2026

Revenue: ▲ +5%; vs $255.3M in Q2 FY2025
Net income: ▲ Now profitable; vs −$3.7M in Q2 FY2025

Total U.S. Digital Segment Revenue share of revenue vs 86.8% in Q2 FY2025

Sep 3, 2026 Second-quarter results included third-quarter fiscal 2026 guidance The company’s release introduced its outlook for the third quarter.
Jun 30, 2026 Charlie Cole replaced Andrew McLean as CEO Cole’s appointment took effect July 13, 2026.
Apr 1, 2026 Lands’ End and WHP Global completed a brand joint venture Lands’ End transferred its brand intellectual property and related assets to the venture while retaining operational control of its direct and business sales.

Shrinking. Revenue fell 29% in 4 years, from $1.6B in FY2021 to $1.2B in FY2025, about 8% a year.

Trademark licensing The older report lists online, international, Outfitters, third-party and retail channels; the latest also describes royalties from trademark licenses.

Revenue over time

US eCommerce Outfitters Third Party Total U.S. Digital Segment Revenue Europe eCommerce Licensing and Retail Retail International

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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