Lands’ End Announces $50 Million Share Repurchase Authorization
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the Companys plans regarding the Boards share repurchase authorization, the Companys prospects for refinancing its existing debt, the Companys confidence in the strength of its business model, the Companys assessment of its long-term growth prospects, and the Companys prospects for driving long-term value for its stockholders.
- This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the Companys plans regarding the Boards share repurchase authorization, the Companys prospects for refinancing its existing debt, the Companys confidence in the strength of its business model, the Companys assessment of its long-term growth prospects, and the Companys prospects for driving long-term value for its stockholders.
- The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the stock repurchase program may not be executed to the full extent within its duration, due to business or market conditions; global supply chain challenges have resulted in a significant increase in inbound transportation costs and delays in receiving product; further disruption in the Companys supply chain, including with respect to its distribution centers, third-party manufacturing partners and logistics partners, caused by limits in freight capacity, increases in transportation costs, port congestion, other logistics constraints, and closure of certain manufacturing facilities and production lines due to COVID-19 and other global economic conditions; the impact of global economic conditions, including inflation, on consumer discretionary spending; the impact of COVID-19 on operations, customer demand and the Companys supply chain, as well as its consolidated results of operation, financial position and cash flows; the Company may be unable to refinance its existing debt on commercially acceptable terms or at all, due to, in addition to other factors, the condition of the lending and debt markets; the Company may be unsuccessful in implementing its strategic initiatives, or its initiatives may not have their desired impact on its business; the Companys ability to offer merchandise and services that customers want to purchase; changes in customer preference from the Companys branded merchandise; the Companys results may be materially impacted if tariffs on imports to the United States increase and it is unable to offset the increased costs from current or future tariffs through pricing negotiations with its vendor base, moving production out of countries impacted by the tariffs, passing through a portion of the cost increases to the customer, or other savings opportunities; customers use of the Companys digital platform, including customer acceptance of its efforts to enhance its eCommerce websites, including the Outfitters website; customer response to the Companys marketing efforts across all types of media; the Companys maintenance of a robust customer list; the Companys retail store strategy may be unsuccessful; the Companys relationship with Kohls may not develop as planned or have its desired impact; the Companys dependence on information technology and a failure of information technology systems, including with respect to its eCommerce operations, or an inability to upgrade or adapt its systems; fluctuations and increases in costs of raw materials as well as fluctuations in other production and distribution-related costs; impairment of the Companys relationships with its vendors; the Companys failure to maintain the security of customer, employee or company information; the Companys failure to compete effectively in the apparel industry; legal, regulatory, economic and political risks associated with international trade and those markets in which the Company conducts business and sources its merchandise; the Companys failure to protect or preserve the image of its brands and its intellectual property rights; increases in postage, paper and printing costs; failure by third parties who provide the Company with services in connection with certain aspects of its business to perform their obligations; the Companys failure to timely and effectively obtain shipments of products from its vendors and deliver merchandise to its customers; reliance on promotions and markdowns to encourage customer purchases; the Companys failure to efficiently manage inventory levels; unseasonal or severe weather conditions; the adverse effect on the Companys reputation if its independent vendors do not use ethical business practices or comply with applicable laws and regulations; assessments for additional state taxes; incurrence of charges due to impairment of goodwill, other intangible assets and long-lived assets; the impact on the Companys business of adverse worldwide economic and market conditions, including inflation and other economic factors that negatively impact consumer spending on discretionary items; potential indemnification liabilities to Sears Holdings pursuant to the separation and distribution agreement in connection with the Companys separation from Sears Holdings; the ability of the Companys principal stockholders to exert substantial influence over the Company; potential liabilities under fraudulent conveyance and transfer laws and legal capital requirements; and other risks, uncertainties and factors discussed in the Risk Factors section of the Companys Annual Report on Form 10-K for the fiscal year ended January 28, 2022.
- The Company intends the forward-looking statements to speak only as of the time made and does not undertake to update or revise them as more information becomes available, except as required by law.