Jim Cramer has all the good words for Lands’ End, Inc. (NASDAQ:LE) after its second quarter 2014 financial results. The company reported its second quarter 2014 results with 37.6% increase in its operating income.
Cramer said that the performance of the company shows its excellent work plan saying that
“it’s incredible how well the company is doing.”
While discussing LE’s results on “Squawk on the Street”, Cramer said,
“People have to understand, when Lands’ End was funneled from Sears, even though they had to pay that dividend, Lands’ End has a great business.”
Cramer added that much credit of Lands’ End, Inc. (NASDAQ:LE)’s success goes to its CEO, Edgar Huber, and the board of directors.
Lands’ End, Inc. (NASDAQ:LE) reported its second quarter 2014 earnings with operating income of $25.3 million and merchandise sales and services going up to $347.2 million with 5.4% increase. The company 2.8% growth in its same store sales and the net income was $11.8 million for the second quarter 2014 with 4.9% growth from the same period last year. Lands’ End, Inc. (NASDAQ:LE) reported diluted EPS of $0.37 as compared to $0.35 in the second quarter last year.
After the second quarter result announcements, Huber said,
“We are pleased with our second quarter results and our progress towards growing the business and building Lands’ End into a global lifestyle brand. While the overall retail environment remained challenging, we continued to see positive customer response to our merchandising and marketing initiatives and remain focused on improving the contemporary relevance of the Lands’ End brand.”
Lands’ End, Inc. (NASDAQ:LE)’s shares rose by 32.03% after the second quarter 2014 financial results closing at $44.02 yesterday.
This article has been written by Prakash Pandey.