Lands’ End NASDAQ: LE executives used the company’s presentation at the 28th Annual ICR Conference to highlight product momentum, newer customer acquisition efforts, and initiatives spanning marketplaces, licensing, and the Outfitters uniform business. Chief Executive Officer Andrew McLean and Chief Financial Officer Bernie McCracken also discussed gross margin progress, supply chain strategy, and balance sheet improvements.

Product focus, pop-ups, and “iconic” franchises

McLean opened by emphasizing product and customer over financial engineering, pointing to the brand’s tote as an “iconic product” and a cornerstone for bringing the brand to life. He said Lands’ End has leaned into small-batch collaborations to create excitement and scarcity, citing partnerships including Parke (an influencer brand out of Miami) and Montauk General Store. McLean said these collaborations are typically produced in runs of about 400 to 500 units designed to sell out, and he noted he has seen the totes resold at significantly higher prices than their original retail levels.

He tied the product strategy to physical pop-ups intended to meet customers in “cool places,” describing a holiday-season pop-up in Soho that drew customers seeking two items: totes and personalized cashmere. McLean said the pop-up showcased “mother and daughter” shopping behavior—an indicator, in his view, that the brand is resonating across generations. He described customers bringing in older totes to be embroidered while younger shoppers purchased new items, extending the brand’s reach “all the way” to Gen Alpha.

Digital and marketplace traction: TikTok Shop and Amazon

On the marketing and channel mix, McLean said the TikTok Shop has become the company’s fastest-growing channel, highlighting its reach and the way user-generated content can amplify product visibility. He also referenced industry data suggesting TikTok has become a more relevant sales channel, and said Lands’ End’s timing entering the platform has helped expand its audience.

McLean also discussed momentum in marketplaces, saying the company had the number one men’s sweater globally on Amazon during the Black Friday through Cyber Monday period. He attributed that performance to a trend-driven “quarter zip” moment and said the speed at which Lands’ End shifted to capture the trend demonstrated how quickly the brand can pivot.

When asked about selling across platforms such as Amazon and Macy’s, McLean said some product overlap exists, but the company is working through a “product pyramid” with different entry points by channel. He characterized Amazon as a potentially “very, very large business” for Lands’ End, but stressed the importance of appropriate price points and a “minimum viable product” mindset that still protects brand integrity and targets strong customer ratings. He said a key focus is establishing credibility through ratings (citing “4.4 stars” as a target) and suggested that opening price points around $20 matter, noting his view that a large share of Amazon apparel sales occur under $20.

McLean also pointed to success in other wholesale/marketplace settings, saying the company has seen a “really nice run” at Nordstrom, calling out cashmere and outerwear.

Licensing expansion and Outfitters: Delta win and school uniforms

McLean said Lands’ End has been building a licensing business, describing it as an “asset-light” strategy designed to generate high returns on invested capital while limiting the need for significant store investment. He said licensing was also driven partly by necessity, given limited capital for a large store rollout. As an example of physical reach, he cited Lands’ End’s presence in Costco, noting it was in about 400 doors at one point.

He also said licensing and marketplaces can reinforce each other, citing a shoe licensee whose kids’ snow boots ranked among the highest sellers on Amazon.

On the Outfitters segment, McLean said he saw “incredible opportunity” in commercial uniforms and that the company had not fully invested in the business to its potential previously. He described uniform programs as “B to B to C,” arguing that winning a large enterprise account can put the brand in front of tens of thousands of employees who can become brand ambassadors.

McLean highlighted Delta Air Lines returning as a customer and described it as a “big win,” pointing to what he said would be revenues associated with a “complete global relaunch” of Delta’s uniform program over the next couple of years. He suggested the upside potential is not fully reflected in the stock price, adding that the company does not talk about the opportunity enough.

Management also discussed the school uniform business. McLean said the company took share during the back-to-school season and that it extended contracts with two or three of its largest uniform customers. He emphasized quality and durability as differentiators, noting that school uniform products are made with OEKO-TEX materials and positioning Lands’ End as distinct from commodity suppliers.

Margins, supply chain changes, and balance sheet progress

McCracken said Lands’ End expanded gross margin rates over the year despite tariff headwinds. He described an initial tariff mitigation framework—about 50% supply chain actions, 25% pricing, and 25% cost savings—adding that the company did not hit each lever exactly but blended actions and still achieved the goal of offsetting tariffs while expanding gross margin. He said Lands’ End believes there is additional margin expansion opportunity through the supply chain and product improvements, and noted margins have been growing during McLean’s tenure.

McLean added that the company has reduced its vendor count over time to be “more meaningful to fewer vendors,” aiming to improve leverage, flexibility, and speed. He described a willingness to trade some initial margin in order to reduce markdowns through faster, closer-to-market supply, and said vendor partners with multi-country manufacturing footprints help Lands’ End shift production between geographies more quickly as conditions change.

On pricing, McLean said average unit retail (AUR) has moved higher and he expects it to continue rising, describing a repositioning away from discount orientation toward customers willing to buy without heavy promotions.

McCracken also pointed to balance sheet improvements as a major but under-discussed benefit over the past three years, citing reduced debt and more efficient inventory management. McLean said the company has moved from being “relatively highly leveraged” to what he characterized as an “investment grade” profile, and suggested that improving financial flexibility could enable broader growth initiatives over time.

International commentary deferred to upcoming earnings

On international operations, management offered limited detail, with McCracken saying the company needs to generate increased revenues and drive more profitability, while noting trends have been improving. He said Lands’ End expects to discuss the international business further when it reports Q4 results in March.

About Lands’ End NASDAQ: LE

Lands’ End, Inc NASDAQ: LE is an American retailer specializing in casual apparel, accessories and home goods. Headquartered in Dodgeville, Wisconsin, the company sells its products through a combination of direct-to-consumer channels including e-commerce, catalogues and a network of outlet stores. Lands’ End is known for its nautical-inspired designs, functional outerwear and commitment to quality fabrics.

Founded in 1963 by Gary Comer as a mail-order sailing supply business, Lands’ End rapidly expanded its product offering beyond marine gear.

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