Lands' End and Kohl's are clicking...literally.
The retailer, which specializes in casual clothing and home decor, plans to distribute more of its products across 300 additional Kohl’s stores in 2021 after seeing growth in online sales during the virus-fueled economic downturn.
Lands' End officially launched an assortment of women’s, men’s, kids, and home merchandise on Kohls.com and within 150 Kohl’s stores back in September 2020.
Since then, the company has seen exponential growth in online sales. Its global eCommerce revenue increased 7.5% for the fourth quarter, according to its latest earnings report. During that same three-month span, U.S. eCommerce increased about 3.7%.
"We were well-positioned to capitalize on the accelerated shift to online as a digitally-led company and we benefited from the investments we made to advance our competitive strengths," Lands' End CEO Jerome Griffith said.
Moving forward, Griffith said the company remains optimistic about "the significant growth opportunity that lies ahead" as it continues to advance its initiatives and adapt to the changing consumer environment.
"With a strong foundation largely in place, we are confident that Lands’ End will thrive in this digital-first environment," he said.
Lands' End reported a quarterly profit of $0.60 per share, beating analysts' estimates but below the $0.78 earned during the year-ago period. Revenue also fell to $538.4 from $549.5 million.