Document/Exhibit Description Pages Size
1: 8-K Form 8-K on New York Meeting 6± 24K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report(Date of earliest event reported) February 27, 2002
LANDS' END, INC.
(exact name of registrant as specified in its charter)
DELAWARE 1-9769 36-2512786
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification
of incorporation) Number)
Lands' End Lane, Dodgeville, Wisconsin 53595
(Address of principal executive offices) (Zip Code)
Registrant's telephone number 608-935-9341
including area code
INFORMATION INCLUDED IN THIS REPORT
Item 5. Other Events.
Attached as Exhibit 99 to this report are excerpted slides from a
Lands' End meeting with members of the financial community in New York, New
York, on Wednesday, February 27, 2002. An audio broadcast of the meeting
was simulcast on the Internet and will be archived there for six months.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, its duly authorized officer and chief financial officer.
LANDS' END, INC.
February 28, 2002 By:/S/ DONALD R. HUGHES
Donald R. Hughes
Senior Vice President &
Chief Financial Officer
EXHIBIT 99
***Slide
Lands' End Has Shown 15 Years of Solid Growth
Total Revenue
Fiscal Year (in millions)
1987 284.0
1992 722.0
1997 1,194.0
2002 Est. 1,565.0
___________________________________________________________________________
***Slide
Internet Growth
(Net Merchandising Sales)
Net Merchandising Sales
Fiscal Year (in millions)
1997 3.0
1998 18.0
1999 61.0
2000 138.0
2001 218.0
2002 Est. 300.0
___________________________________________________________________________
***Slide
Fourth Quarter Results
($ in millions, except EPS)
Estimated Actual Actual
Q4 FY02 Q4 FY01 Q4 FY00
Total revenue $ 592.0 $ 538.6 $ 483.1
Gross profit 45.2% 43.7% 42.8%
SG&A 32.3% 33.8% 33.4%
Pretax income 12.6% 9.4% 9.3%
Diluted EPs $ 1.51 $ 1.07 $ 0.92
___________________________________________________________________________
***Slide
Fiscal 2002 Estimated Results
($ in millions, except EPS)
53 weeks 52 weeks
ended ended
02/01/02 01/26/01 Change
Total Revenue $ 1,565 $ 1,462 + 7 %
Gross Profit 44.0% 42.5% + 1.4 pts
SG&A 36.7% 38.3% - 1.6 pts
Pretax income $ 107.0 $ 55.0
Pretax income 6.9% 3.8% + 3.1 pts
Diluted EPS $ 2.20 $ 1.14 + 93 %
___________________________________________________________________________
___________________________________________________________________________
***Slide
Year-End Inventory Levels
($ in millions)
Year-End Level
Fiscal Year ($ in millions)
1998 $241
1999 $220
2000 $162
2001 $188
2002* Est. $227
*The $39 million increase in inventory breaks down approximately as
follows:
$30 million for early receipt of spring/summer merchandise
$14 million for build up of key-core items
($5)million for reduced liquidation inventory
___________________________________________________________________________
***Slide
Recent History
*Revitalization of merchandise, circulation and inventory strategies led to
record Fiscal 2002 results.
FY1999* FY2002
Total Revenue $1,466 $1,565
Gross Margin 42.0% 44.0%
Pre-Tax Profit 5.4% 6.9%
Pages Circulated 25.2 24.7
(billions)
Peak Borrowing $264.0 $ 54.0
SKUs 107 96
EPS $ 1.27 $2.20
*Excludes $12.6 million pre-tax non-recurring charge.
___________________________________________________________________________
***Slide
Lands' End Customer
U.S. Consumer Business
Fiscal Number of Households
Year (in millions)
1998 25.9
1999 27.7
2000 29.1
2001 30.7
2002 32.3
-Our customer file has grown to 32.2 million households in the U.S.
Consumer Business.
-Our 12-month buyers grew to 6.2 million in FY02.
-Our 36-month buyer file is more than 10.1 million households.
__________________________________________________________________________
***Slide
Our Five-Year Opportunities
1. Grow the U.S. Consumer Business
-- Extend our merchandise lines in defined, focused ways.
-- Exploit new channels of marketing and customer service,
enjoying greater efficiencies.
-- Expand our universe of customers.
2. Grow Specialty Divisions and International
-- Advance these businesses from their beach-head positions to
true leadership positions.
3. Grow Earnings at Least 3 Ways
-- Top line revenue growth
-- Leverage existing expense structure.
-- Leverage existing capacity in Dodgeville and around the world.
-- Extend and improve recent strong margin gains.
___________________________________________________________________________
***Slide
Five Year Opportunities
Key Initiatives
-- New extended size catalog for women (launched Fall 2001).
-- Introduction of intimate apparel that leverages huge swimwear
business.
-- Alumni collection - high quality collegiate apparel
--first foray into larger sports licensing business.
-- Great go-togethers - company-wide initiative to market multiple
purchases that are stylish and complementary.
-- New customer segmentation resulting in more targeted and efficient
catalog marketing.
-- Explore the retail store channel.
___________________________________________________________________________
***Slide
Women's Extended Size Market
-- Extended size market reached $17.3 billion in 2001.
-12% is direct to consumer
-- Developed specialty catalog to maximize growth potential.
-- Developed an additional 20% styles to support growth.
-- Hired experienced talent to drive business.
-- Plan five issues this year.
___________________________________________________________________________
***Slide
Intimate Apparel Market
-- Intimate Apparel Market reached $8.3 billion in 2001.
-10% is direct to consumer
-- Leverage our established fit position in Swim.
-- Maximize trend in Sleepwear separates.
-- Explore new ways to market our Intimate Apparel, Sleepwear
and Spa products for FY04 and beyond.
___________________________________________________________________________
***Slide
Operations/Facilities
Key statistics in FY 2002 for U.S. Consumer Business
17.8 Million Orders Shipped
17.0 Million Sales/Service Contacts
79.2 Million Minutes of Customer Talk Time
4.2 Million Units Embroidered
1.9 Million Units Monogrammed
2.6 Million Units Inseamed
1.9 Million Square feet of Distribution Facilities
Significant capacity exists to meet future sales growth without
facility expansion.
___________________________________________________________________________
***Slide
Systems Development
For Emerging Strategic Goals
1. 1993 - 1999 Industrial Strength
Enhanced functionality on core processes
Call Center Systems
Warehouse/Pick and ship
2. 1999 - 2001 Internet Platform
Successfully integrated Internet with core processes
Developed customer focused applications-
Personalization
3. 2001 - 2004 Smart Systems
Superior Customer Relationship Management
Business Intelligence
Advanced Supply Chain Management
___________________________________________________________________________
***Slide
Investment Highlights
-- Lands' End is a unique, highly admired, and trusted brand destined
to be a high growth, high performance company.
-- A wealth of promising merchandising ideas on the drawing board.
--US Consumer
--Specialty
--International
--Internet
-- Financial flexibility and significant free cash strategic
investments.
-- The drive and talent of a seasoned management team.
___________________________________________________________________________
STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Statements in this document that are not historical, including, without
limitation, statements regarding our plans, expectations, assumptions, and
estimations for fiscal 2002 and fiscal 2003 revenues, gross profit margin,
and earnings, as well as anticipated sales trends, timing of catalogs and
future development of our business strategy, are considered forward-looking
and speak only as of today's date.
As such, these statements are subject to a number of risks and
uncertainties. Future results may be materially different from those
expressed or implied by these statements due to a number of factors.
Currently, we believe that the principal factors that create uncertainty
about our future results are the following: customer response to our
merchandise offerings, circulation changes and other initiatives; the mix
of our sales between full price and liquidation merchandise; overall
consumer confidence and general economic conditions, both domestic and
foreign; effects of weather on customer purchasing behavior; effects of
shifting patterns of e-commerce versus catalog purchases; costs associated
with printing and mailing catalogs and fulfilling orders; dependence on
consumer seasonal buying patterns; fluctuations in foreign currency
exchange rates; and changes that may have different effects on the various
sectors in which we operate (e.g., rather than individual consumers, the
Business Outfitters Division, included in the specialty segment, sells to
numerous corporations, and certain of these sales are for their corporate
promotional activities). Our future results could, of course, be affected
by other factors as well. More information about these risks and
uncertainties may be found in the company's 10-K filings with the S.E.C.
The company does not undertake to publicly update or revise its forward-
looking statements even if experience or future changes make it clear that
any projected results expressed or implied therein will not be realized.
Dates Referenced Herein and Documents Incorporated By Reference
| This 8-K Filing | | Date | | Other Filings |
|---|
| |  |
| For The Period Ended | | 2/27/02 |
| Filed On / Filed As Of | | 2/28/02 |
| |
| Top | | List All Filings |
Filing Submission - Alternative Formats (Word / Rich Text, HTML, Plain Text, SGML, XML, et al.)
Copyright © 2008 Fran Finnegan & Company All Rights Reserved.
www.secinfo.com
- Tue, 7 Oct 2008 06:35:51.2 GMT - Privacy - Help