Lands’ End Annual Earnings Jump 93%
Dodgeville, WI-based Lands’ End closed out 2001 with an impressive 93% leap in net income and an 8% boost in revenue. For the fiscal year ended Feb. 1, the apparel and home goods cataloger posted net income of $66.9 million on sales of $1.60 billion. For fiscal 2000, net income has been $34.7 million on $1.46 billion in revenue.
By segment, Lands’ End core-business sales increased 7%, to $873 million. Sales in the specialty segment, which includes the Kids and Home titles, increased 6%, to $433 million. International sales increased 7%, to $142 million. Web sales increased 37%, to $299 million.
Fourth-quarter income increased 44%, to $45.9 million from $31.8 million in 2000. Sales for the same period climbed 11%, to $596.0 million from $538.6 million.
The company sees 2003 earnings per share percentage growth in the high single-digit to low double-digits range. It sees revenue for the year up in the single digits.
Yearly Profits Up 43% at Urban Outfitters
Apparel and home goods cataloger/retailer Urban Outfitters (NasdaqNM: URBN), which mails the Anthropologie catalog, posted a 43% rise in annual net income and an 18% increase in net sales. For the year ended Jan. 31, the company reported net income of $15.0 million on sales of $349.0 million. Catalog and Internet sales rose 14%, to $24.8 million from $21.7 million. The Philadelphia-based company also filed for a public offering of 2 million shares.