Lands End Inc. LE, -0.28% reported Thursday fiscal third-quarter net income that rose to $3.3 million, or 10 cents a share, from $162,000, or 1 cent a share, in the same period a year ago. The average earnings-per-share estimate of the two analysts surveyed by FactSet was 10 cents. The casual clothing seller said revenue for the quarter to Nov. 2 grew 4.9% to $341.6 million, above the two-analyst estimate of $328.5 million. Direct segment revenue rose 8.1% to $313.8 million, while retail segment revenue fell 21% to $27.8 million, as a result of the reduction in Lands’ End Shops at Sears locations. Overall same-store sales climbed 11.8%, while gross margin increased to 44.2% from 43.6%. The stock, which was still inactive in premarket trade, has lost 3.5% over the past three months, while the S&P 500 SPX, -3.24% has declined 6.2%.
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