Lands' End, Inc. (LE) Q2 FY2026 earnings

Reported results

• GAAP net revenue was $302.0 million for Q2 2026, an increase of $7.9 million or 2.7% from $294.1 million in Q2 2025.
• GAAP gross profit was $157.0 million with a gross margin of 52.0% in Q2 2026, compared to $143.4 million and 48.8% in Q2 2025, an increase of approximately 320 basis points.
• GAAP net income was $3.5 million with diluted EPS of $0.11 in Q2 2026, compared to a net loss of $3.7 million with diluted loss per share of $0.12 in Q2 2025.
• Non-GAAP adjusted net income was $2.7 million with adjusted diluted EPS of $0.09 in Q2 2026, compared to adjusted net loss of $1.1 million with adjusted diluted loss per share of $0.04 in Q2 2025.
• Non-GAAP adjusted EBITDA was $11.3 million in Q2 2026, a decrease of 25% compared to $15.1 million in Q2 2025.
• U.S. eCommerce net revenue was $182.4 million in Q2 2026, an increase of $15.1 million or 9.0% from $167.3 million in Q2 2025.

Guidance

• For Third Quarter Fiscal 2026: Net revenue expected between $300.0 million and $330.0 million.
• For Third Quarter Fiscal 2026: GAAP net loss to GAAP net income expected between $1.0 million loss and $3.0 million income; diluted loss per share to diluted earnings per share expected between $0.03 loss and $0.10 earnings.
• For Third Quarter Fiscal 2026: Non-GAAP adjusted net income expected between $2.0 million and $6.0 million; adjusted diluted EPS expected between $0.07 and $0.20.
• For Third Quarter Fiscal 2026: Non-GAAP adjusted EBITDA expected between $14.0 million and $18.0 million.
• For Fiscal 2026 (full year): Net revenue expected between $1.30 billion and $1.35 billion.
• For Fiscal 2026 (full year): GAAP net income expected between $317.0 million and $325.0 million; diluted EPS expected between $10.87 and $11.14.
• For Fiscal 2026 (full year): Non-GAAP adjusted net income expected between $13.0 million and $21.0 million; adjusted diluted EPS expected between $0.44 and $0.72.
• For Fiscal 2026 (full year): Non-GAAP adjusted EBITDA expected between $62.0 million and $70.0 million.
• For Fiscal 2026 (full year): Capital expenditures expected at approximately $40.0 million.

Notes

The company completed the WHP Global transaction in the first half of 2026, resulting in a gain of $491.6 million recognized in the 26-week period. The company repaid its term loan using majority of the $300 million in cash proceeds from the WHP transaction. Unmitigated tariff recovery of $24.9 million was realized in Q2 2026 related to IEEPA tariffs ruled unlawful by the Supreme Court on February 20, 2026. Guidance reflects current tariff rates and macroeconomic conditions.

Price and volatility reaction

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-03 (8-K, Item 2.02). Read the original filing on sec.gov.