Lands’ End, Inc (NASDAQ:LE) has today pronounced the 14-week fourth quarter and 53-week financial results for the 2018.According to reports, the net revenue rose by 11.3% to stand at $510.6 million. In the previous year, the gross margin was 38.9% and that was a rise from the figure that was recorded in the fourth quarter of the previous year.
The figure for the previous year was 38.6% and though it might seem quite minimal to many, it is important that it is a step towards the right direction. A top executive working with the company after walking out of a business conference that was held recently was interviewed by several journalists who wanted to get his perspective regarding the matter.
He said that what had contributed to that particular rise was the move to embrace team work as well as the leveraging on the latest technological advancements sweeping across the globe lately towards the simplification of business operations.
Another top official working with the company moved ahead to outline that during the quarter they had managed to record $21.9 million tax benefit adding that what had led to that was the U.S Jobs Act as well as the U.S Tax Cuts.
The Chief Executive Officer Jerome S. Griffith has moved ahead to outline that as a company they took immense pride in their remarkable performance in the fourth quarter. He said that the company had been gaining momentum behind its digital, marketing and merchandising initiatives. He added that it was great news that they had gotten to the point of ending the year on a pretty solid note.
But what were some of the progressive moves that the business took? The company is said to have invested quite much in its efforts towards the stabilization of the brand. That helped it draw more customers to its goods and services.
But it in the same line of thought it is also important to mention the improvement of its business processes. It goes without saying that reconnecting with customers in the most appropriate way is the backbone of any business entity and the company is foreseeing an even brighter future.