If Land’s End (LE) proved anything with its financial results today, it’s that it’s not Sears (SHLD).
ZUMAPRESS.com Remember: Land’s End was spun off from Sears back in April, as CEO Eddie Lampert continued to pare back non-core assets, though a better term for those assets might be “the good stuff.”
And that term appears appropriate for Land’s End following today’s financial results. Land’s End reported a profit of 37 cents a share, up from 35 cents a year earlier, while sales grew by more than 5% to $347.2 million. (When Sears last reported in August, its sales fell 9.7%, while reporting a loss of $573 million.)
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Investors rejoiced. Shares of Land’s End have jumped 21% to $40.39, a new all-time high, and even Sears is getting in on the fun. It’s shares have gained 2.2% to $33.63 at 3:42 p.m.
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