Lands' End
{{Short description|American clothing and furnishings retailer}}
{{Other uses|Land's End (disambiguation)}}
{{Use mdy dates|date=December 2023}}
{{Infobox company
| name = Lands' End, Inc.
| logo = Lands' End 2018.svg
| logo_size = 250px
| image = Lands' End corporate office.jpg
| image_caption = Corporate office in Dodgeville, Wisconsin
| type = Public
| traded_as = {{NASDAQ|LE}}
| industry = Retail
| foundation = {{start date and age|1963}}, in Chicago, Illinois
| founder = Gary Comer
| location = Dodgeville, Wisconsin
| locations = 26 (2024)
| key_people = Andrew McLean (CEO)
| products = Clothing, luggage, home furnishings
| revenue = {{decrease}} US$1.472 billion (FY2023)
| operating_income = {{decrease}} −US$77 million (FY2023)
| profit = {{decrease}} −US$130 million (FY2023)
| assets = {{decrease}} US$811 million (February 2, 2024)
| equity = {{decrease}} US$241 million (February 2, 2024)
| num_employees = 4,900 (2024)
| homepage = {{URL|https://landsend.com/}}
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/799288/000095017024041066/le-20240202.htm | title=Lands' End, Inc. 2023 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission | date=April 3, 2024}}
}}
Lands' End, Inc., headquartered in Dodgeville, Wisconsin, is a retailer of clothing, baggage, and furniture.
In fiscal 2023, 63.2% of its revenue was from online retail orders in the U.S., 7.7% of revenue was international orders, 18.3% of revenue was sales of logo apparel to businesses and schools, 7.6% of revenue was received from third-party sellers, and 3.2% of revenue was from company-operated stores. As of February 2, 2024, the company operated 26 stores.
The company is named after Land's End; after promotional materials were printed, the founder noticed the typographical error in the location of the apostrophe, but could not afford to reprint the material.{{Cite web | url=https://roberthalperin.com/lands-end | title=Lands’ End | work=Robert Halperin}}{{cite news | url=https://www.wsj.com/articles/SB20001424052702303471004579165291158459018 |title=Sears Weighs A Spinoff of Lands' End; Core Chains' Losses Grow |first=Suzanne |last=Kapner | newspaper=The Wall Street Journal |date=October 30, 2013 | url-access=subscription}}
History
Lands' End began as a mail-order yachting supply company in 1963 in Chicago.{{cite news | url=https://www.cbsnews.com/news/lands-end-ceo-from-italian-sports-cars-to-american-fashion/ | title=Lands' End CEO: From supercars to American fashion | work=CBS News | date=May 7, 2015}}{{Cite news | url=https://www.adweek.com/commerce/with-ecommerce-boom-lands-end-thrives-as-the-apparel-category-struggles/ | title=With Ecommerce Boom, Lands' End Thrives as the Apparel Category Struggles | first=Richard | last=Collings | work=AdWeek | date=December 3, 2020}} It was founded by Gary Comer,{{cite news |url=https://www.nytimes.com/2006/10/06/business/06comer.html |title=Gary C. Comer, 78, Founder of Lands' End, Dies |newspaper=The New York Times |first=Dennis |last=Hevesi |date=October 6, 2006 | url-access=limited}} along with his partners, 1963 Pan American Games gold medalist sailors Richard Stearns and Robert Halperin, and two of Stearns' employees.{{cite news | url=https://www.chicagotribune.com/2006/10/05/gary-comer-1927-2006/ |title=Gary Comer: 1927 - 2006 | first=Rick | last=Kogan |work=Chicago Tribune |date=October 5, 2006 |archive-url=https://web.archive.org/web/20131102070042/http://articles.chicagotribune.com/2006-10-05/news/0610050120_1_lands-end-young-rubicam-clothing |archive-date=November 2, 2013 |url-status=live}}
In 1978, it expanded into general clothing and home furnishings, and moved to Dodgeville, Wisconsin.
In October 1986, it became a public company via an initial public offering.{{Cite web | url=https://www.financecharts.com/stocks/LE/summary/ipo-date | title=Lands End (LE) IPO Date | publisher=FinanceCharts}}
In the late 1980s, Lands' End was the jersey supplier of the United States national rugby union team.{{Cite news |url=https://hypebeast.com/2019/9/rowing-blazers-lands-end-capsule-collection-release |title=Rowing Blazers Taps Lands' End for Colorful Capsule Collection | first=Gabrielle | last=Leung | work=Hypebeast |date=September 5, 2019}}
In July 1995, the company launched its website, Landsend.com.{{Cite news | url=https://wwd.com/business-news/retail/lands-end-timeline-6947338/ | title=Land’s End Through the Years | work=Women's Wear Daily | date=May 23, 2013 | url-access=subscription}}
In 2002, Sears, Roebuck and Company acquired the company for $2 billion in cash.{{cite news | url=https://money.cnn.com/2002/05/13/news/deals/sears/index.htm | title=Sears buys Lands' End |work=CNN |date=May 13, 2002}} Sears offered products by Lands' End in many of its retail stores, until 2019.{{cite news | url=https://fortune.com/2020/06/03/kohls-lands-end-partnership-sears-stores/ | title=Why Lands’ End is betting on its new Kohl’s partnership to refuel growth | first=Phil | last=Wahba | work=Fortune | date=June 3, 2020 | url-access=subscription}}
In November 2009, Lands' End launched Lands' End Canvas, which offered a more fashion-oriented selection of casual clothing for men and women. It was discontinued in 2013.{{cite news |url=https://wwd.com/feature/lands-end-paints-new-canvas-10404931/ |title=Lands' End Paints a New Canvas | first=David | last=Moin | work=Women's Wear Daily | date=April 6, 2016}}{{cite news |url=https://www.glamour.com/story/lands-end-gets-chicified-get-t |title=Lands' End Gets Chicified: Get To Know Canvas |last=Lester |first=Tracey Lomrantz | work=Glamour | date=November 12, 2009}} The line was reintroduced in 2016 but cancelled in 2017 by the new CEO.{{cite press release | url=https://www.prnewswire.com/news-releases/lands-end-introduces-canvas-by-lands-end-300248514.html | title=Lands' End Introduces Canvas by Lands' End | work=PR Newswire | date=April 8, 2016}}{{cite news | url=https://www.jsonline.com/story/money/business/2017/05/15/lands-end-turns-page/320745001/ | title=Lands' End axes ex-CEO's apparel line | last=Romell | first=Rick |work=Milwaukee Journal Sentinel | date=May 15, 2017}}
In 2013, the company partnered with Borderfree to display international orders in local currency.{{Cite news | url=https://wwd.com/feature/lands-end-enhances-e-commerce-for-international-customers-7169565-210260/ | title=Lands’ End Enhances E-commerce for International Customers | first=Vicki M. | last=Young | work=Women's Wear Daily | date=September 20, 2013}}
The company began selling on Debenhams and in 2014, in its first international partnership, in House of Fraser.{{Cite news | url=https://wwd.com/business-news/retail/lands-end-lands-in-house-of-fraser-7850495/ | title=Lands’ End Lands in House of Fraser | first=David | last=Moin | work=Women's Wear Daily | date=August 27, 2014 | url-access=subscription}}{{Cite news | url=https://fashionunited.uk/v1/design/lands-end-opens-concession-stands-in-house-of-fraser/201408256934 | title=Lands' End opens concession stands in House of Fraser | work=FashionUnited | date=August 25, 2014}}
In April 2014, Sears completed the corporate spin-off of the company, which once again became publicly traded.{{cite news | url=https://apnews.com/lands-end-starts-trading-as-public-company-76a014c128874e7bb408c5bf19124a13 |title=Lands' End Starts Trading as Public Company |work=Associated Press | date=June 12, 2018}}
Jerome Griffith became CEO in March 2017, succeeding Federica Marchionni.
In 2018, the company began selling on Amazon.com.{{cite news |first=Phil |last=Wahba |url=https://fortune.com/2018/12/07/lands-end-sears-2/ |title=How Lands' End Emerged From the Shadow of Sears and Prospered Again |work=Fortune |date=December 7, 2018 }}{{cite news | url=https://www.reuters.com/article/us-amazon-com-brands-apparel/selling-with-the-enemy-why-rival-retailers-embrace-amazon-com-idUSKCN1RL0E7/ | title=Selling with the enemy: Why rival retailers embrace Amazon.com | first1=Sonya | last1=Dowsett | first2=Melissa | last2=Fares | work=Reuters | date=April 10, 2019}}
In 2018 and 2019, the company produced uniforms for employees of Delta Airlines and American Airlines.{{Cite news | url=https://wwd.com/feature/lands-end-strategies-for-growth-1202705851/ | title=Lands’ End Finding New Ground for Growth | first=David | last=Moin | work=Women's Wear Daily | date=April 6, 2016}}
In 2019, Lands' End closed its remaining store-within-a-store branches in Sears stores, after Sears Holdings filed for Chapter 11 bankruptcy.{{Cite news |url=https://www.retaildive.com/news/lands-end-to-take-final-steps-away-from-sears/555683/ |title=Lands' End to take final steps away from Sears |first=Caroline |last=Jansen |work=Industry Dive |date=May 29, 2019}}
In 2020, the company entered into a partnership with Kohl's to sell the company's products in its stores.
In 2021, the company partnered with QVC to sell its products on its website, expanded to video sales in April 2022.{{Cite news | url=https://wwd.com/business-news/retail/lands-end-grows-the-landscape-for-luring-customers-1235158984/ | title=Lands’ End Grows the Landscape for Luring Customers | first=David | last=Moin | work=Women's Wear Daily | date=April 14, 2022 | url-access=subscription}}{{Cite news | url=https://www.retaildive.com/news/lands-end-partners-with-qvc-to-sell-swimwear/622202/ | title=Lands’ End partners with QVC to sell swimwear | first=Tatiana | last=Walk-Morris | work=Industry Dive | date=April 18, 2022}}{{Cite press release | url=https://www.globenewswire.com/news-release/2022/04/14/2422562/0/en/Lands-End-and-QVC-Strengthen-Relationship-With-On-Air-Launch.html | title=Lands’ End and QVC Strengthen Relationship With On-Air Launch | publisher=Globe Newswire | date=April 14, 2022}}
Awards and recognition
In 1998, Lands' End was named among The 100 Best Companies to Work for in America by Fortune magazine.{{cite news |last1=Levering |first1=Robert |last2=Moskowitz |first2=Milton |last3=Solovar |first3=Maura Griffin |date=January 12, 1998 |title=The 100 Best Companies to Work for in America |url=https://money.cnn.com/magazines/fortune/fortune_archive/1998/01/12/236444/index.htm |work=Fortune}}
Controversies
In 2016, feminist activist Gloria Steinem was featured in the catalog of Lands' End. After an outcry from anti-abortion customers, the company removed Steinem from its website. The company then faced further criticism, this time both from customers who were still unhappy that Steinem had been featured in the first place, and customers who were unhappy that Steinem had been removed.{{cite news |url=https://www.nytimes.com/2016/03/01/business/catalog-interview-with-gloria-steinem-has-lands-end-on-its-heels.html |title='Catalog Interview With Gloria Steinem Has Lands' End on Its Heels' |last=Rogers |first=Katie | work=The New York Times |date=February 29, 2016 | url-access=limited}}
References
{{Reflist}}
External links
- {{Official website}}
{{Sears Holdings}}
{{Authority control}}
Category:1963 establishments in Illinois
Category:1980s initial public offerings
Category:2014 initial public offerings
Category:Clothing brands of the United States
Category:Companies based in Wisconsin
Category:Companies listed on the Nasdaq
Category:Iowa County, Wisconsin