digibyte - Lands End omni-channel transformation continues to deliver

Profile picture for user slauchlan By Stuart Lauchlan September 3, 2021 Audio mode
Summary:
Lands End turns in a strong Q2 with digital contributing to ongoing turnaround.

Lands End

The omni-channel turnaround at retailer Lands End continues to impress with the firm turning in Q2 revenue of $384.1 million, up 23.1% year-on-year, and net income of $16. 2 million, against $4.4 million for the same period last year. Global e-commerce net revenue was $285.4 million, an increase of 7.7% from $265.1 million in the second quarter of fiscal 2020 and an increase of 32.5% from $215.5 million in the second quarter of fiscal 2019. 

CEO Jerome Griffith is understandably pleased with the progress made:

Within our global e-commerce business, our digitally led product offering and compelling marketing strategies continued to drive growth. We are a digitally led e-commerce business and are continuing to enhance our capabilities through our data-driven focus, an important driver of our customer acquisition.

That’s reflected in a focus on online and social marketing, he added:

Our sustainable performance, with both our new and existing customers, is, in part, driven by the marketing initiatives we have implemented as we continue to further enhance our digital capabilities. Over the past few quarters, we've increased our marketing spend by prioritizing it as a key investment in building our brand and business. Beginning last quarter, we started to further emphasize our presence in social media through paid programs, which we accelerated during the second quarter.

This builds on our digital-first marketing approach and complements our more advanced initiatives in search engine optimization. Both our paid social media, as well as search engine optimization, are highly productive marketing vehicles, allowing us to strengthen our new customer acquisition and retain our existing customers. While our trends in paid social media are strong, we remain in early stages and see continued opportunity to drive new customers to the brand through this channel.