Authentic Brands & WHP Global reportedly bid for Lands' End
The news comes three months after Lands' End Board of Directors indicated that it was exploring "strategic alternatives" for the future of the brand, which included the potential sale of the retailer or a merger, to increase shareholder value.
Best known for its classic all-American styles, which emphasize quality and durability over trends, Lands' End previously reported an annual revenue decline of 7.4 percent compared to the previous year in March. However, the retailer managed to return to profitability in the fiscal year for 2024/25, noting "positive momentum" across all sectors.
The potential sale comes as Lands' End let go of 10 percent of its corporate workforce in 2024 in an effort to drive greater agility and flexibility across its operations, improving inventory management, increasing full-price sell-through, and minimizing reliance on discounting.
Lands' End has enlisted Perella Weinberg Partners to advise on its strategic options. The retailer's stock was trading at approximately 11 dollars per share prior to Reuters' report on Wednesday, reflecting a market valuation of close to 360 million dollars.
The heritage apparel brand, founded in 1963 as a mail-order yacht supply company and formerly owned by Sears before its 2014 spin-off, declined to comment on the matter, as did WHP Global and Authentic Brands Group.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ITV News
10 hours ago
- ITV News
Record numbers due at British Grand Prix as F1 hints at 'forever' deal for Silverstone circuit
The chief executive of Silverstone has said he wants to keep the British Grand Prix at the circuit for as long as possible, after the boss of Formula One Stefano Domenicali said it could be the race's "forever" home. Stuart Pringle told ITV News Anglia the Northampton circuit is "hugely important" for the local area. Mr Pringle said a record 500,000 people are expected to attend between 3 and 6 July, generating £100 million in ivnestment for the local economy. He added: "There's not a bed and breakfast, a pub, a restaurant or a campsite that's empty within 50 miles of Silverstone at the moment." The British Grand Prix is one of the UK's largest sporting events and has been held at Silverstone for 75 years, although Mr Pringle added being forward-focused was just as important as the circuit's history. "There's a lot of ambition here to improve the facilities over time, and really create the world's greatest motorsport stadium, indeed one of the world's greatest sporting stadiums," he told ITV News Anglia. "We don't take our position on the calendar for granted, we've got to be the best out there. "We will continue to push the standards of what we offer here, to impress the fans, to make people come back in their droves. That's what drives us here." On Wednesday, Formula One boss Stefano Domenicali said he expected the British Grand Prix to stay at Silverstone "forever" ahead of a meeting with Prime Minister Sir Keir Starmer. F1's American owners Liberty Media struck a new 10-season agreement with Silverstone last year, meaning the race will be held there until at least 2034, in a deal understood to be worth £300m. Speaking ahead of the 12th round of the campaign, Domenicali said: "I believe that Silverstone has the right characteristics to stay forever on the calendar because there is no other place where you can develop such a huge event in the UK."
Daily Mail
10 hours ago
- Daily Mail
Wall Street CEOs admit the reality for American jobs
By The dam is breaking. In a terrifying admission that signals a seismic change in corporate America, the CEO of one of the biggest carmakers in the US has broken cover to admit the devastating effects AI will have on the workforce. While some execs have attempted vague assurances for American workers, Ford Motor CEO Jim Farley has predicted the rise of AI will take a sledgehammer to jobs. 'Artificial intelligence is going to replace literally half of all white-collar workers in the U.S.,' Farley told author Walter Isaacson at the Aspen Ideas Festival last week. 'AI will leave a lot of white-collar people behind.' Bosses have been cautious about publicly admitting the reality of how many jobs could be cut from their companies as a result of AI. That tide appears to be turning however, and Farley's comments are among the most transparent. It comes after Amazon CEO Andy Jassy announced brutal workforce cuts late last month as the company continues to implement AI in its operations. While AI's impact will not be uniform, it is likely to affect administrative jobs that are automatable, such as data entry and processing, telemarketing, customer service, scheduling and manufacturing assembly lines. Jassy said he plans to reduce the company's corporate workforce over the next few years as the tech will make certain roles redundant. He told employees in a note seen by the Wall Street Journal that AI was a once-in-a-lifetime technological advancement and it has already transformed how Amazon operates. The sentiment was echoed by the CEO of Anthropic, who recently warned AI could wipe out half of all entry-level white-collar jobs. Dario Amodei called on other business leaders to stop 'sugarcoating' the truth and to prepare for the fact that US unemployment could rise to between 10 and 20 percent. Some have taken up the call, including Micha Kaufman, CEO of the freelance marketplace Fiverr, who told staff that they will have to accept that AI will change their jobs and the business itself. 'This is a wake-up call,' he wrote in a memo. 'It does not matter if you are a programmer, designer, product manager, data scientist, lawyer, customer support rep, salesperson, or a finance person — AI is coming for you.' Shopify recently announced that it would not be making any new hires unless managers first proved that the job could not be done by AI. Marianne Lake, head of JPMorgan Chase's consumer and community business arm, told investors in May that she expected to shed 10 percent of her staff in the next few years and replace them with AI tools. 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,' Microsoft said in a statement. Last month Procter & Gamble, which makes diapers, laundry detergent, and other household items, announced it would cut 7,000 jobs , or about 15 percent of non-manufacturing roles. In a change of fortunes, blue collar jobs appear to be more protected while college graduates with white-collar jobs in tech, finance, law, and consulting are taking the hit. Entry-level jobs are vanishing the fastest — stoking fears of recession and a generation of disillusioned graduates left stranded with CVs no one wants. College grads are now much more likely to be unemployed than others, official data shows.
Daily Record
11 hours ago
- Daily Record
Argos offers free QLED TVs with one simple deal - how to get yours today
Argos customers can get their hands on free 40" Hisense QLED TVs this month, here's how to claim and get the most out of this cool deal Argos is currently offering a deal that's too good to pass up as customers who purchase a new Hisense fridge can bag a QLED TV completely free. Until July 15, anyone picking up one of the select Hisense American Fridge Freezers get their hands on a 2025 model 40" Hisense QLED TV at no extra cost. This enticing offer applies to several American-style Fridge Freezers, with prices starting at £1,099. The latest Hisense fridges come equipped with a water and ice dispenser, advanced cooling technology, Wi-Fi connectivity and extra storage space for food and beverages. They are also frost-free and ensure optimal temperature control. Once the purchase is complete, claiming the TV is straightforward and can be done by heading to the Hisense website once the claim window opens on August 15. To submit a claim, details must be provided including name, address and proof of purchase. Hisense says once a claim has been validated, the free TV will be delivered within 45 days, reports the Express. The model provided even includes full Freely access, enabling owners to watch live television without an aerial. In addition to the fridge purchase, Hisense also states that customers buying select TVs and Laser Cinema projectors can claim the free screen. Hisense has announced an enticing promotion to bring extra value to customers this summer, saying: "Hisense is offering consumers even more value this summer with an unmissable promotion. From June 4 to July 15 2025, customers who purchase a selected Hisense TV, Laser Cinema, or Fridge Freezer can claim a free 40" Hisense QLED Smart Freely TV." In addition to Argos, these Hisense fridge freezers are available at retailers such as AO and Currys and are also eligible for the free TV deal. Remember to keep any receipts safe and submit the claim before the cut-off date. One particular model of Hisense fridge available with the deal is the Hisense RS818N4TIE American Fridge Freezer, which has earned a 4.4-star rating from Argos customers. One five-star review says: "Definitely the best fridge freezer we've ever had. "It is roomy, well laid out, really easy to keep clean, no places that are inaccessible. The door shelves are excellent, even fitting in six pint milk carton easily. Looks sleek and elegant, easy to move around to clean under." However, they also pointed out a niggle, adding: "Only little gripe, the door open alarm could do with being a little bit louder." Another glowing review says: "It's just wonderful. Love the ice and water making facility and it's capacious – we can fill the fridge up. Feels really well made and looks amazing."
