Dodgeville-based Lands’ End reported first quarter net income of $10.9 million, or 34 cents per share, up from $7.3 million, or 23 cents per share, in the first quarter of 2013.
Revenues were $330.5 million, up from $319 million in the same period a year ago.
The company was spun off from Hoffman Estates, Ill.-based Sears Holdings Corp. on April 4.
The revenue increase was attributed to an increase in same store sales driven by marketing and promotion efforts.
“We are very pleased with our first quarter results and our progress towards growing the business and building Lands’ End into a global lifestyle brand,” said Edgar Huber, president and chief executive officer of Lands’ End. “We are encouraged by the positive customer response to our merchandising and marketing strategies and remain focused on improving the contemporary relevance of the Lands’ End brand. Despite a very challenging retail apparel environment, we drove strong earnings growth through an improved merchandise assortment architecture, more targeted promotions, improved inventory management and continued expense controls. We are excited to be operating, once again, as an independent public company and believe we are well positioned to execute against our strategic initiatives to drive sales and earnings growth.”
