Lands' End Inc. (LE, Financial) advanced on the heels of the company reporting its financial results for the first quarter. The company posted a loss of 8 cents per share, which was 9 cents higher than expected. Revenue of $299.83 million grew 11.7% from a year ago, beating estimates by $14.83 million.
The gross margin was 44.4%, as compared to 45.7% in the first quarter of last year. Adjusted earnings before interest, taxes, depreciation and amortization was $9 million, compared to $1.3 million in the same quarter of fiscal 2017.
“We are pleased to be starting off the year on a strong note,"Â President and CEO Jerome S. Griffith said. "Our first-quarter results represent the fourth straight quarter of top-line growth and third quarter of profitability growth, demonstrating the continued progress we have made across our strategic initiatives.”
Shares of RH (RH, Financial) climbed more than 35% after the company reported first-quarter earnings per share of $1.33 on $557.4 million in revenue. The company beat earnings estimates by 31 cents, but fell $5.76 million short of revenue expectations.
The adjusted gross margin inched up 750 basis points to a record 38%, compared to 30.5% last year, due to strong full-price selling, lower outlet revenues and a more streamlined distribution and reverse logistics network.
Looking ahead, the company forecasts return on invested capital in excess of 30% by fiscal 2021, an increase from 22% in fiscal 2018 and 10% in fiscal 2017.
Shares of Weight Watchers (WTW, Financial) jumped after JPMorgan (JPM) initiated coverage of the stock with an overweight rating on a positive view of the company's revenue growth via its digital program.
Disclosure: The author holds no positions in any stocks mentioned.
