Lands' End, Inc. filed its Form 10-Q for the quarterly period ended July 31, 2026, with the Securities and Exchange Commission, reporting financial results for both the 13 weeks and 26 weeks ended on that date.

Key Highlights

  • First-half net income of $334.1 million: Net income for the 26 weeks ended July 31, 2026 was $334,144 thousand, compared to a net loss of $11,929 thousand in the prior-year period.
  • WHP Transaction gain of $491.6 million: The filing recorded a gain on the WHP Transaction of $491,622 thousand in the first half, with $300,000 thousand in proceeds reflected in investing activities.
  • Second-quarter net revenue of $302.0 million: Net revenue for the 13 weeks ended July 31, 2026 was $302,038 thousand, up from $294,079 thousand in the comparable prior-year quarter.
  • Equity method investment of $377.6 million on balance sheet: As of July 31, 2026, the company carried an equity method investment of $377,589 thousand, which was not present in the prior-year period.
  • Term loan paid off: The company made $234,000 thousand in payments on its term loan during the 26-week period, with long-term debt, net, reduced to $0 as of July 31, 2026, from $219,550 thousand a year earlier.
  • Basic EPS of $11.12 for first half: Basic earnings per common share for the 26 weeks ended July 31, 2026 was $11.12, versus a loss per share of $0.39 in the same period of the prior year.
  • Shares outstanding of 29,544,154: As of September 1, 2026, the registrant had 29,544,154 shares of common stock outstanding.

Lands' End Reports WHP Transaction Gain and Debt Payoff in First Half of Fiscal 2026

Lands' End, Inc. (NASDAQ:LE), a Delaware-incorporated retailer headquartered in Dodgeville, Wisconsin, reported sharply higher first-half earnings driven largely by a $491,622 thousand gain on the WHP Transaction, according to the 10-Q filed for the period ended July 31, 2026. For the 26 weeks ended July 31, 2026, the company reported net income of $334,144 thousand, reversing a net loss of $11,929 thousand in the comparable prior-year period. Income before income taxes reached $440,909 thousand for the half, with income tax expense of $106,765 thousand recorded against that figure.

For the second quarter alone, the 13 weeks ended July 31, 2026, net revenue was $302,038 thousand versus $294,079 thousand in the prior-year quarter. Gross profit for the quarter was $157,015 thousand, compared with $143,418 thousand a year earlier. The company also recorded equity method investment income of $4,243 thousand in the quarter, a line item not present in the prior-year comparable periods. Operating income for the quarter was $8,187 thousand, compared with $3,983 thousand in the second quarter of fiscal 2025.

On the balance sheet as of July 31, 2026, total assets were $949,566 thousand, up from $800,641 thousand a year earlier, reflecting primarily the addition of the $377,589 thousand equity method investment. The company reported long-term borrowings under the ABL Facility of $60,000 thousand, while long-term debt, net, fell to zero from $219,550 thousand at August 1, 2025, following the $234,000 thousand term loan repayment during the 26-week period. Total stockholders' equity rose to $492,870 thousand from $225,124 thousand a year earlier, with retained earnings of $170,095 thousand compared to an accumulated deficit of $106,287 thousand in the prior-year period.

What Was Disclosed

Lands' End filed a 10-Q for the period ended July 31, 2026, disclosing first-half net income of $334,144 thousand, a $491,622 thousand gain on the WHP Transaction, full repayment of its term loan, and second-quarter net revenue of $302,038 thousand.