Lands’ End returns to growth and announces strategic joint venture with WHP Global

American lifestyle brand Lands’ End has reported a return to topline growth for the fourth quarter of fiscal 2025, alongside a transformative partnership with brand management firm WHP Global. The agreement, which involves the formation of a joint venture (JV) to manage the brand’s intellectual property, is expected to eliminate the company’s term loan debt.

Fourth quarter financial performance

For the fourth quarter ended January 30, 2026, Lands’ End saw net revenue increase by 4.7 percent to 462.4 million dollars, compared to 441.7 million dollars in the same period of the prior year. Gross merchandise value (GMV) rose by mid-single digits during the quarter.

The U.S. digital segment, a core component of the business, recorded net revenue of 402.3 million dollars, representing a 5.3 percent increase year-over-year. Within this division, U.S. e-commerce revenue grew by 4.8 percent to 312 million dollars, supported by higher average unit retails and strong performance in solution-based product categories.

The outfitters division reported a 9.6 percent revenue increase to 53.7 million dollars, driven by double-digit growth in school uniforms. Third party revenue also improved by 4.3 percent to 36.6 million dollars, bolstered by double-digit growth on the Amazon marketplace. Notably, Europe e-commerce revenue rose by 9.3% to 32.9 million dollars, reversing a previous declining trend.

Lands’ End chief executive officer, Andrew McLean, stated: “The fourth quarter was a turning point for Lands’ End as we returned to topline growth, driven by our most significant businesses, and capped off a year in which we strengthened the foundation for sustainable, profitable, long-term growth.”

Strategic joint venture and debt reduction

The company has entered into a definitive agreement to form a JV with the US-based WHP Global. Under the terms of the deal, Lands’ End will contribute its intellectual property to the new entity, while WHP Global will pay 300 million dollars for a 50 percent controlling stake.

Lands’ End plans to use the proceeds to fully repay its outstanding term loan debt, which stood at approximately 234 million dollars as of January 26, 2026. While WHP Global will lead global licensing and brand expansion, Lands’ End will maintain operational control of its direct-to-consumer (D2C) and business-to-business (B2B) channels.

Lands’ End chief financial officer, Bernie McCracken, noted that the transaction will significantly improve the company’s capital structure and materially reduce interest expenses. Additionally, WHP Global has launched a tender offer to acquire up to 100 million dollars of Lands’ End shares at 45 dollars per share, which could result in the firm owning approximately 7 percent of the company's common stock.

The transaction is expected to close by the end of the first quarter of fiscal 2026.