Originally published at www.seclive.com
Lands' End Inc. (NASDAQ:LE), which was spun off earlier this year from Sears Holdings Corporation (NASDAQ:SHLD), announced its quarterly results for the second quarter of fiscal year 2014. The apparel company, which was purchased by Sears in 2002 for $1.9B, was spun off in April to allow Sears to focus on its core business. Lands' End revenue grew 5.4% to $347.2M while the company's direct business, which comprises internet and catalog sales, rose 7% to $292.6M. Lands' End earnings increased from $11.3M and $0.35 per share in the year-ago quarter to $11.8M and $0.37 per share. CEO Edgar Huber remarked that the retail environment was challenging but that the company continued to make positive progress towards improving its brand and visibility with consumers.
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