Dodgeville, WI-based Lands’ End reported total revenue for the fourth quarter of fiscal 2001 was up $538.6 million, up 11.5% from $483.1 million in the prior year. Net income for the quarter was $31.8 million, up 12.3% from $28.3 million a year ago. The quarter ended Jan. 26, 2001.
The month of January performed well, with sales up 6%, the cataloger said, even though it had to shift about $10 million in sales out of the fourth quarter of fiscal 2001 and into the first quarter of fiscal 2002, as the timing of the end-of-season clearance catalog was changed.
For the year just ended, total revenue was $1.46 billion, up 3.2% from $1.417 billion in the prior year. Net income for the year was $34.7 billion, down 27.8% from the $48 million earned in fiscal 2000.
Among the company’s core business segments, the coed division had the most growth–23% in the fourth quarter and 16% for the year. Corporate sales performed the best in the specialty business segment, with double-digit increases. In the fourth quarter, the Kids division had a low double-digit sales increase and Coming Home a mid-single digit sales growth.
The company also announced that it was breaking shipping and handling revenue out of its net merchandise sales, and would be listing it separately in costs of sales. The company had previously listed it as part of selling, general and administrative expenses.
