We are reiterating our Buy rating, projections and $20 price target for Lands’ End as we review the first catalog of the year. As in prior periods, post the Holiday rush, Lands’ End materially shrinks the overall catalog size, focuses on key potential fashion trends for 2026 and drives sales of seasons coming (Swimwear) and going (outerwear). This year we have also seen a continued focus on reducing deep discounting, integrating the catalog to offer both men and women’s looks, a deeper focus on licensed products and the highlight of a Valentine’s Day shop for your sweetheart (or to just treat yourself). We continue to view 2026 as another material step forward in positioning Lands’ End as a lifestyle driven solutions player for an increasingly younger customer base and reiterate our Buy rating and $20 price target for LE.
