Direct segment revenue fell 5.5% during the quarter to $272.1M.
Retail segment revenue decreased 15.6% to $39.3M.
Gross margin plunged to 42.9% of sales after sitting at 48.6% last year. A $4.4M writedown of Canvas by Lands' End brand inventory was a negative factor.
The company ended the quarter with a "clean" inventory position of $425.3M, down 2.6% Y/Y.
Previously: Lands' End misses by $0.05, misses on revenue (Dec. 1)
Now read: Bojangles prices secondary offering »