I think the Internet stocks may even lead the way higher once again, deja vu here we come.....
There was a nice breakout of the trading range on LE after they forecast lower earnings but increased earnings and sales from the internet.
siliconinvestor.com
I have figured that if LE cannot sell on the web few others will succeed. They have a known brand, they are a manufacturer and they have been doing mailorder for years. I haven't used it but people say their website is relatively good.
Lands' End Holiday E-Sales Up 50%; FY 2001 Earnings To Slip
DODGEVILLE, WISCONSIN, Jan 12, 2001 (Newsbytes via COMTEX) -- Lands' End Inc. [NYSE:LE] said today holiday Internet sales were up 50 percent over the same period in 1999, but warned that overall earnings for fiscal year 2001 will be "substantially lower" than FY 2000.
In the current fiscal year e-commerce sales account for 16 percent of total net sales, the No. 2 US catalog retailer said in a news release. Lands' End was among 12 traditional retailers with Web sites in PC Data Online's Top 20 in holiday sales for 2000.
Overall sales for the 2000 holiday shopping season were $394 million, up 12 percent over $352 million in the same period last year. Income for the period was $33.9 million, up 1.6 percent from the $33.4 million in 1999.
The outlook for fiscal year 2001, however, is less rosy than Lands' End anticipated. Without giving a specific figure, the company said it expects earnings per share for the full fiscal year less than the prior year's $1.52.
Strong demand for certain items caused a rise in backorders and bad weather in Wisconsin increased overtime costs and other operational expenses, which led to the lowered expectations, president and CEO David Dyer said in a statement.
Lands' End is on the Web at landsend.com
By DickKelsey Reported by Newsbytes.com, newsbytes.com
Copyright 2001 The Washington Post Company |
