Lands' END
LE on Nasdaq. Lands' End sells clothing and accessories to consumers and businesses. Market value $314m.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Retail & consumer stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-23.59 of spare cash in the past 12 months. A savings account pays about $4.
You pay 43.8 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 8 cents a year. Above 10 is good.
Quality score: 51 of 100. Price score: 33 of 100. Our list needs 70 on quality and 60 on price.
$10.53 a share, 10% above its 1-year low
Over the past year the price has ranged from $9.56 to $20.04.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $73 million in the past 12 months, $20 million in the year to January 2026.
| Revenue | |||||
| Revenue | $1.6bn | $1.3bn | $1.3bn | $1.2bn | $1.2bn |
| Operating margin | |||||
| Operating margin | 4.9% | 1.9% | -6.0% | 4.4% | 3.8% |
| Debt to equity | |||||
| Debt to equity | 0.61 | 0.62 | 1.03 | 0.99 | 0.93 |
| Shares outstanding | |||||
| Shares outstanding | 0.03bn | 0.03bn | 0.03bn | 0.03bn | 0.03bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)8 of 9
- Profit backed by cash (accruals)Yes
- Debt0.93× equity
- Revenue growth, five yearsShrinking, 4.0% a year
- Buying back its own sharesYes, 10% fewer since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $269 million last quarter, up 5% on a year ago.
- Profit: $3 million, after a loss of $4 million a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, down from 4 cents a year earlier.
- Over the past 12 months it spent $73 million more cash than it brought in. A year earlier it had $5 million spare.
- 2% fewer shares than a year ago. Each share owns a bit more of the company.
- It has $16 million more cash than debt. A year ago debt was $211 million more than cash.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $274m |
| January 2025 | $382m |
| April 2025 | $228m |
| July 2025 | $255m |
| October 2025 | $277m |
| January 2026 | $402m |
| April 2026 | $205m |
| July 2026 | $269m |
| Quarter to | Amount |
|---|---|
| October 2024 | -$593,000 |
| January 2025 | $19m |
| April 2025 | -$8m |
| July 2025 | -$4m |
| October 2025 | $5m |
| January 2026 | $12m |
| April 2026 | $331m |
| July 2026 | $3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 March 2026
- Next quarterly (estimated, 10-Q)
- 3 December 2026
Who owns it
2 long-term investors we follow own it, unchanged from 2 last quarter. 126 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| GAMCO InvestorsMario Gabelli | $3m | <0.1% | Cut |
| Saber Capital ManagementJohn Huber | $907,432 | 0.7% | Cut |
Largest holders overall
- Dimensional Fund Advisors LP$12m
- BlackRock$9mAdded
- Towerview$9mAdded
- Arrowstreet Capital, Limited Partnership$6mAdded
- American Century Companies$6mAdded
- Vanguard Capital Management$5m
- Bank of America$4mCut
- UBS Group AG$3mAdded
- GAMCO Investors$3mCut
- Geode Capital Management$3mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- Edward S. Lampertat least 51.4%−4.6 pts(filed with 3 related holders)Since 1 April 2026
What they said
Item 4 is hereby amended and supplemented as follows: "On April 1, 2026, the Issuer announced, in a Current Report on Form 8-K (the "Closing 8-K"), that the transactions contemplated by the previously disclosed MIPA entered into by the Issuer, WHP Topco, and certain affiliates…
Read the filing - LEWHP, LLCPassive investorat least 7.2%(filed with 1 related holder)Since 1 April 2026
- TISCH THOMAS JPassive investorSold down below 5%Since 31 December 2025
- FMZ Strategies LLCPassive investorSold down below 5%Since 8 April 2026
- Capital Research Global InvestorsPassive investorSold down below 5%Since 30 May 2025
| Holder | Stake | Since | |
|---|---|---|---|
Edward S. Lampert | at least 51.4%−4.6 pts (filed with 3 related holders) | 1 April 2026 | What they saidItem 4 is hereby amended and supplemented as follows: "On April 1, 2026, the Issuer announced, in a Current Report on Form 8-K (the "Closing 8-K"), that the transactions contemplated by the previously disclosed MIPA entered into by the Issuer, WHP Topco, and certain affiliates… Read the filing |
LEWHP, LLC Passive investor | at least 7.2% (filed with 1 related holder) | 1 April 2026 | |
TISCH THOMAS J Passive investor | Sold down below 5% | 31 December 2025 | |
FMZ Strategies LLC Passive investor | Sold down below 5% | 8 April 2026 | |
Capital Research Global Investors Passive investor | Sold down below 5% | 30 May 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 11 sold $2m.
- Parker Alicia UhlmanDirectorSold
- Date
- 1 April 2026
- Shares
- 288
- Price
- $45.00
- Value
- $12,960
- MCCLAIN JOHNDirectorSold
- Date
- 1 April 2026
- Shares
- 840
- Price
- $45.00
- Value
- $37,800
- LEYKUM ELIZABETHDirectorSold
- Date
- 1 April 2026
- Shares
- 935
- Price
- $45.00
- Value
- $42,075
- Galvin RobertDirectorSold
- Date
- 1 April 2026
- Shares
- 2,966
- Price
- $45.00
- Value
- $133,470
- Hartogensis GordonDirectorSold
- Date
- 1 April 2026
- Shares
- 752
- Price
- $45.00
- Value
- $33,840
- Linden JosephineDirectorSold
- Date
- 1 April 2026
- Shares
- 3,482
- Price
- $45.00
- Value
- $156,690
- Christopher Martin D.EVP, Chief Technology OfficerSold
- Date
- 1 April 2026
- Shares
- 530
- Price
- $45.00
- Value
- $23,850
- Maas KymPresident, LE Consumer & CCOSold
- Date
- 1 April 2026
- Shares
- 1,440
- Price
- $45.00
- Value
- $64,800
- McLean Andrew J.Chief Executive Officer, DirectorSold
- Date
- 1 April 2026
- Shares
- 16,918
- Price
- $45.00
- Value
- $761,310
- GRAY PETER LPRES LE Licensing, CAO & GCSold
- Date
- 1 April 2026
- Shares
- 11,454
- Price
- $45.00
- Value
- $515,430
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 April 2026 | Parker Alicia Uhlman Director | Sold | 288 | $45.00 | $12,960 |
| 1 April 2026 | MCCLAIN JOHN Director | Sold | 840 | $45.00 | $37,800 |
| 1 April 2026 | LEYKUM ELIZABETH Director | Sold | 935 | $45.00 | $42,075 |
| 1 April 2026 | Galvin Robert Director | Sold | 2,966 | $45.00 | $133,470 |
| 1 April 2026 | Hartogensis Gordon Director | Sold | 752 | $45.00 | $33,840 |
| 1 April 2026 | Linden Josephine Director | Sold | 3,482 | $45.00 | $156,690 |
| 1 April 2026 | Christopher Martin D. EVP, Chief Technology Officer | Sold | 530 | $45.00 | $23,850 |
| 1 April 2026 | Maas Kym President, LE Consumer & CCO | Sold | 1,440 | $45.00 | $64,800 |
| 1 April 2026 | McLean Andrew J. Chief Executive Officer, Director | Sold | 16,918 | $45.00 | $761,310 |
| 1 April 2026 | GRAY PETER L PRES LE Licensing, CAO & GC | Sold | 11,454 | $45.00 | $515,430 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Mar 2026, plus the 10-Q filed 3 Sep 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 4.0% a year.
- It isn't cheap on profits: 43.8× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.