# EDGAR Filing Document

**Accession Number:** 0000799288
**File Stem:** 0001193125-26-262940
**Filing Date:** 2026-6
**Character Count:** 67912
**Document Hash:** de34c22f461d32db76bbe93d231ef4af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-262940.hdr.sgml**: 20260609

**ACCESSION NUMBER**: 0001193125-26-262940

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20260609

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260609

**DATE AS OF CHANGE**: 20260609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LANDS' END, INC.
- **CENTRAL INDEX KEY:** 0000799288
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-FAMILY CLOTHING STORES [5651]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 362512786
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09769
- **FILM NUMBER:** 261074546

**BUSINESS ADDRESS:**
- **STREET 1:** FIVE LANDS' END LANE
- **CITY:** DODGEVILLE
- **STATE:** WI
- **ZIP:** 53533
- **BUSINESS PHONE:** 6089359341

**MAIL ADDRESS:**
- **STREET 1:** FIVE LANDS' END LANE
- **CITY:** DODGEVILLE
- **STATE:** WI
- **ZIP:** 53533

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LAND'S END, INC.
- **DATE OF NAME CHANGE:** 20140527

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LAND'S END, INC
- **DATE OF NAME CHANGE:** 20140527

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LANDS END INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? 8-K

**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):** June 9, 2026<br>

------

LANDS' END, INC.

**(Exact name of registrant as specified in its charter)**

------

---

| | | |
|:---|:---|:---|
| Delaware | 001-09769 | 36-2512786 |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 5 Lands' End Lane |  |  |
| Dodgeville**,** Wisconsin |  | 53595 |
| **(Address of principal executive offices)** |  | **(Zip Code)** |

---

**Registrant's telephone number, including area code:** (608) 935-9341<br>

Not Applicable

**(Former name or former address, if changed since last report)**

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | |
|:---|:---|
| **<br>Title of each class** | **<br>Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share<br> LE | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

## Item 2.02 Results of Operations and Financial Condition.
On June 9, 2026, Lands' End, Inc. (the "Company") announced its financial results for its first quarter ended May 1, 2026. A copy of the Company's press release containing this information is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information contained herein and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this Item 2.02, including Exhibit 99.1 hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

**Item 7.01 Regulation FD Disclosure.**

As previously announced, the Company is hosting a conference call at 8:00 a.m. Eastern Time on Tuesday, June 9, 2026, to discuss its first quarter fiscal 2026 financial results and to discuss the Company's strategy following the closing of its joint venture transaction with WHP Global. The Company plans to present the investor presentation substantially in the form included as Exhibit 99.2 hereto and incorporated herein by reference (the "Investor Presentation") on the conference call and make it available on its website at <u>http://investors.landsend.com</u>. The information contained herein and in the accompanying Exhibit 99.2 shall not be incorporated by reference into any filing of the Company, whether made before, on, or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to this filing. The information in this Item 7.01, including Exhibit 99.2 hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The furnishing of this information shall not be deemed an admission as to the materiality of any such information.

## Item 9.01 Financial Statements and Exhibits.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

---

| | |
|:---|:---|
| <u>Exhibit Number</u> | <u>Description</u> |
| [<u>99.1</u>](le-ex99_1.htm) | Press Release of Lands' End, Inc. dated June 9, 2026 |
| [<u>99.2</u>](le-ex99_2.htm) | Investor Presentation |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | **LANDS' END, INC.** | **LANDS' END, INC.** |
| Date: | June 9, 2026 | By:  | /s/ Bernard McCracken |
|  |  | Name:<br>Title:  | Bernard McCracken<br>Chief Financial Officer and Treasurer |

---

------

## Exhibit 99.1

**Exhibit 99.1**

![img48865868_0.gif](img48865868_0.gif)

**Lands' End Announces First Quarter Fiscal 2026 Results**

**DODGEVILLE, Wis., June 9, 2026** (GLOBE NEWSWIRE) – Lands' End, Inc. (NASDAQ: LE) today announced financial results for the first quarter ended May 1, 2026.

Andrew McLean, Chief Executive Officer, stated, "Our first quarter results reflect a business with real underlying momentum. Consumer traffic was up double digits, new customer acquisition improved, and our European business delivered strong double-digit revenue growth — confirmation that our solutions-based strategy is resonating with customers. We experienced a temporary operational disruption tied to our U.S. distribution center upgrades which caused a timing issue, and it is behind us. Additionally, we delivered year-over-year improvement in both adjusted net income and adjusted earnings per share."

McLean continued, "Looking forward, the creation of the joint venture with WHP Global marked a genuine inflection point for Lands' End and positions us to deliver outstanding shareholder value. Whether from the continued growth of our existing commercial operations, a much more favorable capital structure with no term-loan debt, the Board's April authorization of a $100 million share repurchase program, the profit-share we'll receive from the JV or the potential exchange of our JV stake into equity in WHP Global at the same multiple WHP receives in a qualifying monetization event, the opportunity in front of Lands' End has never been clearer, and we are committed to building on our successes and focused on delivering on the potential in this great American company."

**First Quarter Financial Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net revenue was $238.9 million for the first quarter of 2026, a decrease of $22.3 million or 8.5% from $261.2 million during the first quarter of 2025. The decrease in revenue was driven primarily by the temporary disruption associated with the rollout of a new warehouse management system and the deliberate pacing of shipments as the distribution centers ramped back to normal capacity. Excluding the impact of the temporary disruption, the Company estimates it would have delivered low single-digit revenue growth in the quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•U.S. Digital Segment Net revenue was $205.1 million for the first quarter of 2026, a decrease of $22.6 million or 9.9% from $227.7 million in the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•U.S. eCommerce Net revenue was $153.3 million, a decrease of $17.4 million or 10.2% from $170.7 million in the first quarter of 2025. The decrease was driven by the temporary disruption associated with the rollout of the new warehouse management system and the deliberate pacing of shipments as the Company ramped its distribution centers back to normal capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Outfitters Net revenue was $38.5 million for the first quarter of 2026, a decrease of $4.4 million or 10.3% from $42.9 million in the first quarter of 2025. The decrease was driven by the temporary disruption of the new warehouse management system. Customer orders from the business uniform channel remained strong primarily driven by select enterprise accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Third Party Net revenue was $13.3 million, for the first quarter of 2026, a decrease of $0.8 million or 5.7% from $14.1 million during the first quarter of 2025. The decrease was primarily due to a strategic focus on higher-margin, higher-quality sales, prioritizing brand integrity over lower-value, promotion-driven volume.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Europe eCommerce Net revenue was $20.5 million for the first quarter of 2026, an increase of $2.6 million or 14.5%, from $17.9 million during the first quarter of 2025. The increase was primarily due to strategic shift to a franchise-first assortment simplifying the business and improving inventory efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Selling and administrative expenses increased $3.0 million to $126.5 million or 53.0% of Net revenue in the first quarter of 2026, compared with $123.5 million or 47.3% of Net revenue in the first quarter of 2025. The approximately 570 basis point increase was driven by deleverage from lower net revenue and investment in digital marketing focused on new customer acquisition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net income was $330.7 million, or $10.56 earnings per diluted share first quarter of 2026 compared to Net loss of $8.3 million or $0.27 loss per diluted share in the first quarter of 2025. The Net income result was primarily driven by the WHP Global transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted net loss was $3.5 million and Adjusted diluted loss per share was $0.11 in the first quarter of 2026, compared to Adjusted net loss of $5.4 million and Adjusted diluted loss per share of $0.18 in the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted EBITDA was $(6.2) million in the first quarter of 2026, a decrease of 165% compared to $9.5 million in the first quarter of 2025.

**Balance Sheet and Cash Flow Highlights**

Cash and cash equivalents were $23.1 million as of May 1, 2026, compared to $18.1 million as of May 2, 2025.

Inventories were $299.9 million as of May 1, 2026, and $262.4 million as of May 2, 2025, representing a 14% year over year increase. That increase primarily reflects the timing effects of the distribution center ramp-up and the unmitigated impact of tariffs. As operations normalize and inventory flow improves, the Company expects inventory levels to become better aligned with the Company's revenue trajectory.

Net cash used in operating activities was $74.2 million for the 13 weeks ended May 1, 2026, compared to net cash used in operating activities of $22.5 million for the 13 weeks ended May 2, 2025. The increase in net cash used in operating activities was primarily due to the impact of the closing of the WHP Global transaction and partially offset by increased inventory related to the temporary distribution center disruption.

As previously announced, the Company used the majority of the $300 million in cash proceeds from the WHP Global transaction to fully repay its term loan.

As of May 1, 2026, the Company had $30.0 million of borrowings outstanding and $104.2 million of availability under its ABL Facility, compared to $40.0 million of borrowings and $86.8 million of availability as of May 2, 2025.

During the first quarter of 2026, the Company repurchased $0.3 million of the Company's common stock under the share repurchase program announced on April 1, 2026. As of May 1, 2026, additional purchases of up to $99.7 million could be made under the current program through March 31, 2029.

------

**Outlook**

Bernie McCracken, Chief Financial Officer, stated, "Our first quarter financials reflect three distinct factors: the temporary disruption from our distribution center upgrade, structural P&L changes following the WHP Global transaction, and continued tariff pressure. Absent the operational disruption, we estimate we would have delivered low-single-digit revenue growth. In Europe, where distribution was not affected, revenue grew 15% and gross margin expanded approximately 70 basis points — evidence of the underlying health of the business."

McCracken continued, "The full repayment of our term loan has significantly strengthened our balance sheet and reduced our interest burden. Importantly, this step provides enhanced financial flexibility to capital allocation, including reinvestment in the business and returning capital to shareholders."

The Company's guidance reflects current conditions, including tariffs at currently implemented rates and prevailing macroeconomic factors.

For Second Quarter fiscal 2026 the Company expects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net revenue to be between $290.0 million and $310.0 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net loss to be between $5.0 million and $2.0 million and diluted loss per share to be between $0.16 and $0.06

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted net income to be between $2.0 million and $5.0 million and Adjusted diluted earnings per share to be between $0.06 and $0.16.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted EBITDA in the range of $11.0 million to $14.0 million.

For fiscal 2026 the Company now expects:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net revenue to be between $1.30 billion and $1.40 billion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net income to be between $310.0 million and $320.0 million and diluted earnings per share to be between $10.02 and $10.34.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted net income to be between $10.0 million and $20.0 million and Adjusted diluted earnings per share to be between $0.32 and $0.65.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted EBITDA in the range of $68.0 million to $78.0 million.

For the full year, the Company's guidance includes approximately $40.0 million of capital expenditures.

------

**Enhanced Earnings Conference Call**

The Company will host an enhanced earnings conference call on Tuesday, June 9, 2026, at 8:00 am ET to review its first quarter financial results. The enhanced earnings conference call will also include discussion of the Company's strategy following the closing of its joint venture transaction with WHP Global and the potential value creation opportunities from that transaction. The call may be accessed through the Investor Relations section of the Company's website at http://investors.landsend.com.

**About Lands' End, Inc.**

Lands' End, Inc. (NASDAQ:LE) is a leading digital retailer of solution-based apparel, swimwear, outerwear, accessories, footwear, home products and uniforms. Lands' End offers products online at *www.landsend.com*, through third-party distribution channels and our own Company Operated stores. Lands' End also offers products to businesses and schools, for their employees and students, through the Outfitters distribution channel. Lands' End is a classic American lifestyle brand that creates solutions for life's every journey.

------

**Forward-Looking Statements** 

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the transactions (the "Transactions") by and among the Company, Lands' End Direct Merchants, Inc., a wholly owned subsidiary of the Company (together with the Company, "Sellers"), WH Borrower, LLC, WHP Topco, L.P. ("WHP Topco") and LEWHP LLC, a wholly owned indirect subsidiary of WHP Topco and the related joint venture ("JV") and the potential value creation opportunities and benefits of the Transactions and the JV, profit sharing from the JV, a potential exchange of Company's JV stake for equity in WHP Global and the likelihood, impact and value of a potential future WHP monetization event; the Company's strategy following the closing of the Transaction; the impact of repayment of the term loan, including reinvestment and returning capital; Company business momentum and strategy; continued growth; favorability of the Company's capital structure; the share repurchase program and its anticipated scale and impact; future opportunity, expectations for building on success and delivering on potential; expectations regarding inventory, revenue and tariffs; and the Company's Q2 and full fiscal year 2026 outlook and expectations as to Net revenue, Net income (loss), Adjusted net income, Adjusted diluted EPS, Adjusted EBITDA and capital expenditures. These forward-looking statements are based on beliefs and assumptions made by the Company's management using currently available information. These statements are not guarantees of future performance, actions or events and are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if the Company management's underlying beliefs and assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty of the expected financial performance of the JV; the effects that a termination of agreements governing the Transactions (including the License Agreement) may have on the Company; risks related to the Company's ability to realize the anticipated benefits of the Transactions, including the possibility that the expected benefits from the Transactions will not be realized; the ability of the JV, WHP and the Company to implement their business strategies; risks relating to the occurrence of an IPO, change of control or significant asset sale of WHP Topco (an "exchange event"), which is out of the Company and its stockholders' control, to realize value from the Company's exchange rights, and the possibility that such exchange event may never occur, or if it does occur, the possibility that it occurs on unfavorable terms, including economic terms; the possibility that one or more of the agreements governing the Transactions may contain provisions that are difficult to enforce and the possibility of legal disputes between Sellers and WHP Topco and its affiliates that could delay realization of the full benefits of the Transactions; the possibility that any exchange event could be structured in a manner and on terms and conditions that are disadvantageous to the Company and its stockholders; the possibility that the contribution of the Company's intellectual property into the JV may not achieve the anticipated results, particularly if such intellectual property is not monetized effectively; the risk that WHP's past performance may not be representative of future results; uncertainties relating to the JV's ability to maintain the Company's brand name and image with customers; uncertainties relating to the JV's ability to respond to changing consumer preferences, identify and interpret consumer trends, and successfully market new products; uncertainties regarding the Company's and the JV's focus, strategic plans and other management actions; the stock repurchase program may not be executed to the full extent within its duration, due to business or market conditions; the ability of the Company's principal stockholders to exert substantial influence over the Company; the Company's results may be materially impacted if tariffs on imports to the United States increase and it is unable to offset the increased costs from current or future tariffs through pricing negotiations with its vendor base, moving production out of countries impacted by the tariffs, passing through a portion of the cost increases to the customer, or other savings opportunities; global supply chain challenges and their impact on inbound transportation costs and delays in receiving product; disruption in the Company's supply chain, including with respect to its distribution centers, third-party manufacturing partners and logistics partners, caused by limits in freight capacity, increases in transportation costs, port congestion, other logistics constraints, and closure of certain manufacturing facilities and production lines due to public health crises and other global economic conditions; the impact of global economic conditions, including inflation, on consumer discretionary spending; the impact of public health crises on operations, customer demand and the Company's supply chain, as well as its consolidated results of operation, financial position and cash flows; the Company's ability to offer merchandise and services that customers want to purchase; changes in customer preference from the Company's branded merchandise; customers' use of the Company's digital platform, including customer acceptance of its efforts to enhance its eCommerce websites, including the Outfitters website; customer response to the Company's marketing efforts across all types of media; the Company's maintenance of a robust customer list; the Company's retail store strategy may be unsuccessful; the Company's Third Party channel may not develop as planned or have its desired impact; the Company's dependence on

------

information technology; failure of information technology systems, including with respect to its eCommerce operations, or an inability to upgrade or adapt its systems; failure to adequately protect against cybersecurity threats or maintain the security and privacy of customer, employee or company information and the impact of cybersecurity events on the Company; fluctuations and increases in costs of raw materials as well as fluctuations in other production and distribution-related costs; impairment of the Company's relationships with its vendors; the Company's failure to compete effectively in the apparel industry; legal, regulatory, economic and political risks associated with international trade and those markets in which the Company conducts business and sources its merchandise; the Company's failure to protect or preserve the image of its brands and its intellectual property rights; increases in postage, paper and printing costs; failure by third parties who provide the Company with services in connection with certain aspects of its business to perform their obligations; the Company's failure to timely and effectively obtain shipments of products from its vendors and deliver merchandise to its customers; reliance on promotions and markdowns to encourage customer purchases; the Company's failure to efficiently manage inventory levels; unseasonal or severe weather conditions; natural disasters, political crises or other catastrophic events; the adverse effect on the Company's reputation if its independent vendors or licensees do not use ethical business practices or comply with contractual obligations, applicable laws and regulations; assessments for additional state taxes; incurrence of charges due to impairment of other intangible assets and long-lived assets; the impact on the Company's business of adverse worldwide economic and market conditions, including inflation and other economic factors that negatively impact consumer spending on discretionary items; global economic, political, legislative, regulatory and market conditions (including competitive pressures), evolving legal, regulatory and tax regimes, including the effects of tariffs, inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail market in the United States and around the world and the impact of war and other conflicts around the world; and other risks, uncertainties and factors discussed in the "Risk Factors" sections of the Company's Annual Report on Form 10-K for the fiscal year ended January 30, 2026 as updated by the Company's Quarterly Reports on Form 10-Q. The Company intends the forward-looking statements to speak only as of the time made and does not undertake to update or revise them as more information becomes available, except as required by law.

**CONTACTS**

Lands' End, Inc.

Bernard McCracken

Chief Financial Officer

(608) 935-4100

Investor Relations:

ICR, Inc.

Tom Filandro

(646) 277-1235

Tom.Filandro@icrinc.com

***-Financial Tables Follow-***<br>

------

**LANDS' END, INC.**

**Condensed Consolidated Balance Sheets**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| *(in thousands, except per share data)* | **May 1, 2026** | **May 2, 2025** | **January 30,<br>2026\*** |
| **ASSETS** |  |  |  |
| Current assets |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $23122 | $18139 | $17694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 458 | 2178 | 589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 33788 | 36023 | 41265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 299923 | 262372 | 268803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | 34257 | 38237 | 27856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 1200 | 8180 | 4798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | 392748 | 365129 | 361005 |
| Property and equipment, net | 120581 | 116010 | 115701 |
| Operating lease right-of-use asset | 14815 | 19450 | 15680 |
| Equity method investment | 375758 |  |  |
| Intangible asset |  | 257000 |  |
| Asset held for sale |  |  | 257000 |
| Other assets | 1798 | 2906 | 1680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | $905700 | $760495 | $751066 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |
| Current liabilities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt | $— | $13000 | $13000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 119288 | 95077 | 115436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liability – current | 4456 | 4462 | 4434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 125545 | 83963 | 91068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | 249289 | 196502 | 223938 |
| Long-term borrowings under ABL Facility | 30000 | 40000 |  |
| Long-term debt, net |  | 222219 | 214211 |
| Lease liability – long-term | 13158 | 18935 | 14264 |
| Deferred tax liabilities | 109275 | 50532 | 52392 |
| Other liabilities | 2857 | 2167 | 1966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | 404579 | 530355 | 506771 |
| **STOCKHOLDERS' EQUITY** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $0.01 authorized: 480,000 shares;<br> issued and outstanding: 30,827, 30,635 and 30,575, respectively | 309 | 307 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 349927 | 347624 | 349429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained Earnings (accumulated deficit) | 167527 | (102620) | (88850) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (16642) | (15171) | (16590) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL STOCKHOLDERS' EQUITY** | 501121 | 230140 | 244295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | $905700 | $760495 | $751066 |

---

\* Derived from the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended January 30, 2026.

------

**LANDS' END, INC.**

**Condensed Consolidated Statements of Operations**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **13 Weeks Ended** | **13 Weeks Ended** |
| *(in thousands, except per share data)* | **May 1, <br>2026** | **May 2, <br>2025** |
| Net revenue | $238916 | $261208 |
| Cost of sales (exclusive of depreciation and amortization) | 127404 | 128482 |
| **Gross profit** | 111512 | 132726 |
| Selling and administrative | 126452 | 123462 |
| Depreciation and amortization | 6100 | 8291 |
| Other operating expense, net | 23068 | 3343 |
| Operating loss | (44108) | (2370) |
| Interest expense | 5514 | 9265 |
| Gain on WHP Transaction | (491622) |  |
| Loss on extinguishment of debt | 9172 |  |
| Other expense (income), net | 136 | (11) |
| Income (loss) before income taxes | 432692 | (11624) |
| Income tax expense (benefit) | 101999 | (3362) |
| **NET INCOME (LOSS)** | $330693 | $(8262) |
| **Earnings (loss) per common share** |  |  |
| Basic | $10.74 | $(0.27) |
| Diluted | $10.56 | $(0.27) |
| **Weighted average common shares outstanding** |  |  |
| Basic | 30778 | 30867 |
| Diluted | 31324 | 30867 |

---

------

**Definitions, Reconciliations and Uses of Non-GAAP Financial Measures**

In addition to our Net income (loss) determined in accordance with GAAP, for purposes of evaluating operating performance, we report the following non-GAAP measures: Adjusted net income (loss) and Adjusted EBITDA. Adjusted net income (loss) is also expressed on a diluted per share basis.

We believe presenting non-GAAP financial measures provides useful information to investors, allowing them to assess how the business performed excluding the effects of significant non-recurring or non-operational amounts. We believe the use of the non-GAAP financial measures facilitates comparing the results being reported against past and future results by eliminating amounts that we believe are not comparable between periods and assists investors in evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent with management's own methods for evaluating business performance.

Our management uses Adjusted net income (loss) and Adjusted EBITDA to evaluate the operating performance of our business for comparable periods and to discuss our business with our Board of Directors, institutional investors and other market participants. Adjusted EBITDA is also used as the basis for a performance measure used in executive incentive compensation.

The methods we use to calculate our non-GAAP financial measures may differ significantly from methods other companies use to compute similar measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies. Adjusted net income (loss) and Adjusted EBITDA should not be used by investors or other third parties as the sole basis for formulating investment decisions as these measures may exclude a number of important cash and non-cash recurring items.

Adjusted net income (loss) is defined as net income (loss) excluding significant non-recurring or non-operational items as set forth below. Adjusted net income (loss) is also presented on a diluted per share basis. While Adjusted net income (loss) is a non-GAAP measurement, management believes that it is an important indicator of operating performance and useful to investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other significant non-recurring or non-operational items, while periodically affecting our results, may vary significantly from period to period and have a disproportionate effect in a given period, which affects comparability of results and are described below:

oCorporate restructuring and other – composed of costs related to the strategic alternative exploration as well as severance and benefit costs for the 13 weeks ended May 1, 2026 and May 2, 2025.

oLoss on extinguishment of debt – prepayment premium associated with the repayment of the Term Loan Facility before the scheduled maturity date and the write off of related unamortized debt issuance costs of the Term Loan Facility for the 13 weeks ended May 1, 2026.

oUnmitigated tariff costs – unmitigated incremental product costs, net of the impact of vendor negotiations, incurred pursuant to International Emergency Economic Powers Act ("IEEPA") tariffs that were subsequently ruled unlawful by the Supreme Court of the United States on February 20, 2026 for the 13 weeks ended May 1, 2026.

oJV intangible asset amortization – Lands' End proportionate share of intangible asset amortization expense recorded within the JV's financial results for the 13 weeks ended May 1, 2026.

oExit costs – charges associated to exit kids and footwear lines of business including inventory excess and obsolescence reserves, inventory discounts and operational charges recorded in the 13 weeks ended May 2, 2025 in conjunction with our licensing arrangements commencing in Fiscal 2024.

oGain on WHP Transaction – Gain recognized in conjunction with the transfer of the Lands' End intellectual property to the JV, and immediately thereafter, sale of a 50% controlling ownership stake in the JV to WHP for the 13 weeks ended May 1, 2026.

The following table sets forth, for the periods indicated, a reconciliation of Net income (loss) to Adjusted net loss and Adjusted diluted loss per share:

------

---

| | | |
|:---|:---|:---|
| **Unaudited** | **13 Weeks Ended** | **13 Weeks Ended** |
| *(in thousands, except per share amounts)* | **May 1, 2026** | **May 2, 2025** |
| Net income (loss) | $330693 | $(8262) |
| Corporate restructuring and other | 23290 | 3332 |
| Loss on extinguishment of debt | 9172 |  |
| Unmitigated tariff costs | 6800 |  |
| JV intangible asset amortization | 1697 |  |
| Exit Costs |  | 257 |
| Gain on WHP Transaction | (491622) |  |
| Tax effects on adjustments <sup>(1)</sup> | 116460 | (746) |
| **ADJUSTED NET LOSS** | $(3510) | $(5419) |
| **ADJUSTED DILUTED LOSS PER SHARE** | $(0.11) | $(0.18) |
| Diluted weighted average common shares outstanding | 31324 | 30867 |

---

(1) The tax impact of adjustments is calculated at the applicable U.S. and non-U.S. Federal and State statutory rates.

While Adjusted EBITDA is a non-GAAP measurement, management believes that it is an important indicator of operating performance, and is useful to investors, because EBITDA excludes the effects of financings, investing activities and tax structure by eliminating the effects of interest, depreciation and income tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other significant items, while periodically affecting our results, may vary significantly from period to period and have a disproportionate effect in a given period, which affects comparability of results and are described below:

oCorporate restructuring and other – composed of costs related to the strategic alternative exploration as well as severance and benefit costs for the 13 weeks ended May 1, 2026 and May 2, 2025.

oUnmitigated tariff costs – unmitigated incremental product costs, net of the impact of vendor negotiations, incurred pursuant to International Emergency Economic Powers Act ("IEEPA") tariffs that were subsequently ruled unlawful by the Supreme Court of the United States on February 20, 2026 for the 13 weeks ended May 1, 2026.

oJV intangible asset amortization – Lands' End proportionate share of intangible asset amortization expense recorded within the JV's financial results for the 13 weeks ended May 1, 2026.

oNet gain or loss on disposal of property and equipment – disposal of property and equipment for the 13 weeks ended May 1, 2026 and May 2, 2025.

oExit costs - charges associated to exit kids and footwear lines of business including inventory excess and obsolescence reserves, inventory discounts and operational charges recorded in the 13 weeks ended May 2, 2025 in conjunction with our licensing arrangements commencing in Fiscal 2024.

The following table sets forth, for the periods indicated, selected income statement data, both in dollars and as a percentage of Net revenue and a reconciliation of Net loss to Adjusted EBITDA:

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unaudited** | **13 Weeks Ended** | **13 Weeks Ended** | **13 Weeks Ended** | **13 Weeks Ended** |
| *(in thousands)* | **May 1, 2026** | **May 1, 2026** | **May 2, 2025** | **May 2, 2025** |
| Net income (loss) | $330693 | 138.4% | $(8262) | (3.2)% |
| Income tax expense (benefit) | 101999 | 42.7% | (3362) | (1.3)% |
| Interest expense | 5514 | 2.3% | 9265 | 3.5% |
| Loss on extinguishment of debt | 9172 | 3.8% |  | —% |
| Gain on WHP Transaction | (491622) | (205.8)% |  | —% |
| Other (income) expense, net | 136 | 0.1% | (11) | (0.0)% |
| Operating loss | (44108) | (18.5)% | (2370) | (0.9)% |
| Depreciation and amortization | 6100 | 2.6% | 8291 | 3.2% |
| Corporate restructuring and other | 23290 | 9.7% | 3332 | 1.3% |
| Unmitigated tariff costs | 6800 | 2.8% |  | —% |
| JV intangible asset amortization | 1697 | 0.7% |  | —% |
| Exit costs |  | —% | 257 | 0.1% |
| (Gain) loss on disposal of property and equipment | (25) | (0.0)% | 11 | 0.0% |
| **Adjusted EBITDA** | $(6246) | (2.6)% | $9521 | 3.6% |

---

------

---

| | | |
|:---|:---|:---|
| **Second Quarter Fiscal 2026 Guidance Adjusted EBITDA** | **13 Weeks Ended** | **13 Weeks Ended** |
| *(in millions)* | **July 31, 2026** | **July 31, 2026** |
| Net loss | $(5.0) | $(2.0) |
| Depreciation, interest, other income, taxes and other significant items | 16.0 | 16.0 |
| Adjusted EBITDA | $11.0 | $14.0 |

---

---

| | | |
|:---|:---|:---|
| **Second Quarter Fiscal 2026 Guidance Adjusted Net Income and Adjusted Diluted Earnings per Share** | **13 Weeks Ended** | **13 Weeks Ended** |
| *(in millions)* | **July 31, 2026** | **July 31, 2026** |
| Net loss | $(5.0) | $(2.0) |
| Restructuring and other significant items | 7.0 | 7.0 |
| Adjusted net income | $2.0 | $5.0 |
| Adjusted diluted earnings per share | $0.06 | $0.16 |

---

---

| | | |
|:---|:---|:---|
| **Fiscal 2026 Guidance Adjusted EBITDA** | **52 Weeks Ended** | **52 Weeks Ended** |
| *(in millions)* | **January 29, 2027** | **January 29, 2027** |
| Net income | $310.0 | $320.0 |
| Depreciation, interest, other income, taxes and other significant items | (242.0) | (242.0) |
| Adjusted EBITDA | $68.0 | $78.0 |

---

---

| | | |
|:---|:---|:---|
| **Fiscal 2026 Guidance Adjusted Net Income and Adjusted Diluted Earnings per Share** | **52 Weeks Ended** | **52 Weeks Ended** |
| *(in millions)* | **January 29, 2027** | **January 29, 2027** |
| Net income | $310.0 | $320.0 |
| Restructuring and other significant items | (300.0) | (300.0) |
| Adjusted net income | $10.0 | $20.0 |
| Adjusted diluted earnings per share | $0.32 | $0.65 |

---

------

**LANDS' END, INC.**

**Condensed Consolidated Statements of Cash Flows**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **13 Weeks Ended** | **13 Weeks Ended** |
| *(in thousands)* | **May 1, 2026** | **May 2, 2025** |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |
| Net income (loss) | $330693 | $(8262) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 6100 | 8291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt issuance costs | 301 | 686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on disposal of property and equipment | (25) | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on WHP Transaction | (491622) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 9172 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 3241 | 920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 57073 | (1119) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (219) | (214) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 7372 | 12283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (31493) | 4114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 3155 | (16396) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating assets | (1566) | (7247) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating liabilities | 33638 | (15530) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (74180) | (22463) |
| **CASH FLOWS FROM INVESTING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of property and equipment | 39 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from WHP Transaction | 300000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash contribution to JV | (1250) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (10219) | (8286) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | 288570 | (8286) |
| **CASH FLOWS FROM FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from borrowings under ABL Facility | 89000 | 60000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments of borrowings under ABL Facility | (59000) | (20000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on term loan | (234000) | (3250) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on debt extinguishment | (2437) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments of debt issuance costs |  | (1103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of stock options | 908 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments for taxes related to net share settlement of equity awards | (3378) | (450) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases and retirement of common stock, including excise tax paid | (275) | (2777) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) provided by financing activities | (209182) | 32420 |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | 89 | (166) |
| **NET INCREASE IN CASH, CASH EQUIVALENTS AND<br>&nbsp;&nbsp;&nbsp;&nbsp; RESTRICTED CASH** | 5297 | 1505 |
| **CASH, CASH EQUIVALENTS AND RESTRICTED CASH,<br>&nbsp;&nbsp;&nbsp;&nbsp; BEGINNING OF PERIOD** | 18283 | 18812 |
| **CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD** | $23580 | $20317 |
| **SUPPLEMENTAL CASH FLOW DATA** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unpaid liability to acquire property and equipment | $3653 | $1691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes refunded | (626) | (600) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest paid | 6247 | 8670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease right-of-use-assets (reversal) obtained in exchange for lease liabilities | (15) | 95 |

---

------

## Exhibit 99.2

![Slide 1](le-ex99_2s1.jpg)

Well Positioned to Deliver Outstanding Shareholder Value June 9, 2026

------

![Slide 2](le-ex99_2s2.jpg)

Forward-Looking Statements This presentation and related discussions contain forward-looking statements that involve risks and uncertainties. These forward-looking statements generally are identified by the words "potential," "opportunity," "anticipate," "estimate," "expect," "intend," "project," "plan," "predict," "believe," "seek," "continue," "outlook," "may," "might," "will," "should," "can have," "likely," "targeting" or the negative version of these words or comparable words and include statements regarding: the transactions (the "Transactions") by and among the Company, Lands' End Direct Merchants, Inc., a wholly owned subsidiary of the Company (together with the Company, "Sellers"), WH Borrower, LLC, WHP Topco, L.P. ("WHP Topco") and LEWHP LLC, a wholly owned indirect subsidiary of WHP Topco and the related joint venture ("JV") and the expected results, opportunities and benefits of the Transactions and the JV; the future prospects and value of the Company, WHP, the JV and the Lands' End brand; the Company's positioning relative to potential value creation and upside opportunities; the impact of repayment of the term loan; expected future royalties, profit sharing estimates and JV cash distributions; expansion opportunities in new categories, channels and geographies through the JV's licensing activities; the likelihood, impact and value of a potential future WHP monetization event and related hypothetical illustrations and the assumptions underlying such scenarios; the illustrative multiple ascribed to scaled brand management companies; Company strategy and positioning; shareholder value creation; financial flexibility and investing in growth; operational execution, growth, cost management and gains; the share repurchase program and its anticipated scale and impact; potential equity exchange or conversion events; consumer engagement, customer relations and customer loyalty; product innovation, future sales and growth; marketing plans and impact of technology; JV strategy and expectations for future revenue, profits, license agreements and market and product opportunities; WHP growth and value creation; capital allocation priorities; and the Company's Q2 and full fiscal year 2026 outlook and expectations as to Net revenue, Net income, Adjusted net income, Adjusted diluted EPS, Adjusted EBITDA, and three-year targets for Net Revenue growth rate and Adjusted EBITDA growth. These forward-looking statements are based on beliefs and assumptions made by the Company's management using currently available information. These statements are not guarantees of future performance, actions or events and are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if the Company management's underlying beliefs and assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. In addition, this presentation includes illustrative examples of potential outcomes related to the valuation of the JV interest. There can be no assurance that a WHP Monetization event will occur, or if such event does occur, that the results set forth herein will be achieved. From time to time we may discuss or present hypothetical or illustrative valuations of our interest in the JV in the event of certain circumstances occurring and there can be no assurance that such valuations will be realized or such events will occur. Actual outcomes resulting from a WHP Monetization event may vary based on market conditions at the time of such transaction, and JV and WHP-specific factors impacting any such transaction and the Company may have limited or no control over timing or structure. Contractual minimums are typically subject to conditions and termination rights that may affect realization. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty of the expected financial performance of the JV; the effects that a termination of agreements governing the Transactions (including the License Agreement) may have on the Company; risks related to the Company's ability to realize the anticipated benefits of the Transactions, including the possibility that the expected benefits from the Transactions will not be realized; the ability of the JV, WHP and the Company to implement their business strategies; risks relating to the occurrence of an IPO, change of control or significant asset sale of WHP Topco (an "exchange event"), which is out of the Company and its stockholders' control, to realize value from the Company's exchange rights, and the possibility that such exchange event may never occur, or if it does occur, the possibility that it occurs on unfavorable terms, including economic terms; the possibility that one or more of the agreements governing the Transactions may contain provisions that are difficult to enforce and the possibility of legal disputes between Sellers and WHP Topco and its affiliates that could delay realization of the full benefits of the Transactions; the possibility that any exchange event could be structured in a manner and on terms and conditions that are disadvantageous to the Company and its stockholders; the possibility that the contribution of the Company's intellectual property into the JV may not achieve the anticipated results, particularly if such intellectual property is not monetized effectively; the risk that WHP's past performance may not be representative of future results; uncertainties relating to the JV's ability to maintain the Company's brand name and image with customers; uncertainties relating to the JV's ability to respond to changing consumer preferences, identify and interpret consumer trends, and successfully market new products; uncertainties regarding the Company's and the JV's focus, strategic plans and other management actions; the stock repurchase program may not be executed to the full extent within its duration, due to business or market conditions; the ability of the Company's principal stockholders to exert substantial influence over the Company; the Company's results may be materially impacted if tariffs on imports to the United States increase and it is unable to offset the increased costs from current or future tariffs through pricing negotiations with its vendor base, moving production out of countries impacted by the tariffs, passing through a portion of the cost increases to the customer, or other savings opportunities; global supply chain challenges and their impact on inbound transportation costs and delays in receiving product; disruption in the Company's supply chain, including with respect to its distribution centers, third-party manufacturing partners and logistics partners, caused by limits in freight capacity, increases in transportation costs, port congestion, other logistics constraints, and closure of certain manufacturing facilities and production lines due to public health crises and other global economic conditions; the impact of global economic conditions, including inflation, on consumer discretionary spending; the impact of public health crises on operations, customer demand and the Company's supply chain, as well as its consolidated results of operation, financial position and cash flows; the Company's ability to offer merchandise and services that customers want to purchase; changes in customer preference from the Company's branded merchandise; customers' use of the Company's digital platform, including customer acceptance of its efforts to enhance its eCommerce websites, including the Outfitters website; customer response to the Company's marketing efforts across all types of media; the Company's maintenance of a robust customer list; the Company's retail store strategy may be unsuccessful; the Company's Third Party channel may not develop as planned or have its desired impact; the Company's dependence on information technology; failure of information technology systems, including with respect to its eCommerce operations, or an inability to upgrade or adapt its systems; failure to adequately protect against cybersecurity threats or maintain the security and privacy of customer, employee or company information and the impact of cybersecurity events on the Company; fluctuations and increases in costs of raw materials as well as fluctuations in other production and distribution-related costs; impairment of the Company's relationships with its vendors; the Company's failure to compete effectively in the apparel industry; legal, regulatory, economic and political risks associated with international trade and those markets in which the Company conducts business and sources its merchandise; the Company's failure to protect or preserve the image of its brands and its intellectual property rights; increases in postage, paper and printing costs; failure by third parties who provide the Company with services in connection with certain aspects of its business to perform their obligations; the Company's failure to timely and effectively obtain shipments of products from its vendors and deliver merchandise to its customers; reliance on promotions and markdowns to encourage customer purchases; the Company's failure to efficiently manage inventory levels; unseasonal or severe weather conditions; natural disasters, political crises or other catastrophic events; the adverse effect on the Company's reputation if its independent vendors or licensees do not use ethical business practices or comply with contractual obligations, applicable laws and regulations; assessments for additional state taxes; incurrence of charges due to impairment of other intangible assets and long-lived assets; the impact on the Company's business of adverse worldwide economic and market conditions, including inflation and other economic factors that negatively impact consumer spending on discretionary items; global economic, political, legislative, regulatory and market conditions (including competitive pressures), evolving legal, regulatory and tax regimes, including the effects of tariffs, inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail market in the United States and around the world and the impact of war and other conflicts around the world; and other risks, uncertainties and factors discussed in the "Risk Factors" sections of the Company's Annual Report on Form 10-K for the fiscal year ended January 30, 2026 as updated by the Company's Quarterly Reports on Form 10-Q. The Company intends the forward-looking statements to speak only as of the time made and does not undertake to update or revise them as more information becomes available, except as required by law.

------

![Slide 3](le-ex99_2s3.jpg)

WHP Global Joint Venture 1 JV anticipated to operate to at least 85% profit margin after expenses per terms of Limited Liability Company Agreement 2 Representative multiples subject to change due to market conditions or relative performance Positioned for Potential Value Creation with Upside Opportunity $300M Purchase Price + Debt Elimination 50% JV stake for Lands' End IP Full repayment of ~$234M term loan Balance sheet freed for capital allocation flexibility Minimum $50M annual royalties paid by Lands' End to JV $45/share Tender Offer ~$100M of shares purchased by WHP Global from shareholders at significant premium Provided immediate liquidity for shareholders WHP Global now ~7% shareholder of Lands' End Global Licensing Expansion Lands' End to receive 50% of JV profits on a quarterly basis1 WHP Global platform accelerates category and channel expansion, especially internationally Enhanced partner selection and new market entry Long-term guaranteed royalty stream Upside Future WHP Global Transaction Right to exchange JV interest for equity in the event of possible WHP Global monetization event, including certain IPOs or sales Potential value creation from higher multiple traditionally ascribed to scaled brand management companies2 "Clear recognition of the enduring value of Lands' End's extraordinary brand...delivers compelling value for stockholders." ANDREW MCLEAN, CEO "A fantastic opportunity for Lands' End...will enable an even brighter future for the Company and brand." JOSEPHINE LINDEN, BOARD CHAIR

------

![Slide 4](le-ex99_2s4.jpg)

Lands' End Strategy

------

![Slide 5](le-ex99_2s5.jpg)

Four Key Levers to Drive Shareholder Value 5 1 Enhanced Financial Flexibility Eliminated term loan debt and materially reduced interest expense freeing capital to invest in growth 2 Robust Operational Execution Enables organic growththrough DTC and B2Bchannels with disciplined cost management drivingtop- and bottom-line gains 3 Returning Capital to Shareholders Up to $100M sharerepurchase program authorized through March 2029 4 AdditionalJV Upside 50% JV profit share with quarterly distributions, plus potential equity exchange in the event of possible WHP Global monetization event

------

![Slide 6](le-ex99_2s6.jpg)

Commercial Strategy Under License Agreement Well positioned to build on our solutions-based,customer-first strategy across DTC and B2B channels 6 Direct-to-Consumer Reaching and engaging consumers where they are, across the U.S. and in existing European markets OWNED CHANNELS landsend.com, landsend.co.uk, landsend.de, landsend.fr DIGITAL MARKETPLACES Including Nordstrom, Macy's, Target, Amazon, Kohl's B2B / Lands' End Outfitters BRAND-ENHANCING APPAREL AND UNIFORM SOLUTIONS National accounts and Fortune 500 companies Small and mid-size businesses 5,000+ U.S. schools TRUSTED BY LEADING BRANDS

------

![Slide 7](le-ex99_2s7.jpg)

Key Growth Drivers New Categories, Channels & Markets WHP Global JV accelerating international expansion Third-party licensing driving new category reach High-margin royalty streams extending global footprint Product Innovation & Key Franchises Solutions-focused merchandising for higherquality sales Weatherproof franchise: Squall, Wanderweight, Anyweather Swim & sun protection leadership; Totes growth Strong Customer Relationships Deep brand affinity paired with modern marketing Growing new-to-file base, especially amongyounger cohorts Outfitters: multi-year uniform contracts in Airlines, Financial Services, Schools and others World-Class Operational Execution Two digitally native businesses powering DTC + B2B AI and advanced analytics turbocharging marketing Enhanced personalization deepening customer loyalty 7

------

![Slide 8](le-ex99_2s8.jpg)

JV Strategy

------

![Slide 9](le-ex99_2s9.jpg)

Joint Venture Update 1 Includes anticipated retail sales from recently announced agreement to acquire Marc Jacobs from LVMH. WHP Global has current annual retail sales of $8.5B A strong and growing WHP Global platform – including its recent agreement to acquire Marc Jacobs from LVMH – and a unique exchange opportunity give Lands' End shareholders two distinct pathways to participate in WHP Global's value creation. FIRST 60 DAYS Since closing on April 1, the JV has brokered $150M+ in guaranteed minimum royalty ("GMR") revenue over the life of the agreements: At the same time, the Lands' End brand continues to display strong business development momentum, with 12+ active opportunities across multiple international markets and new product categories Reached an agreement in principle with the existing footwear licensee to extend the partnership, strengthening a high-performing category and increasing total GMRs through 2033 Completed a competitive bidding process for a new home licensee, selecting a new partner to cover multiple home textile categories Executed a binding term sheet with the existing apparel licensee to consolidate and extend three agreements into a single long-term license through 2033, driving a material step-up in annual GMR 9 $9.5B Annual Retail Sales 1 200+ Operating Partnerships 80+ Countries with WHP Brands Sold

------

![Slide 10](le-ex99_2s10.jpg)

Financial Overview

------

![Slide 11](le-ex99_2s11.jpg)

Resetting the Baseline 1 Assumes Term Loan paid off on Feb 1, 2025, first day of FY2025Memo: Does not include the impact of amortization of certain purchase accounting adjustments recorded by the JV since those non-cash items are adjusted EBITDA neutral The following table recasts FY2025 results as if the JV structure were in place for the entirety of FY2025 to provide a common baseline against which future results can be evaluated (In $ Millions, except per share) 2025 Actual Adjustments 2025 Recast Notes Revenue $1,335.1 $(17.5) $1,317.6 - Licenses contributed to JV Gross Profit $650.2 $(83.1) $567.1 - Lands' End Royalties to JV Gross Margin 49% (5.7)% 43% Marketing $219.1 $- $219.1 SG&A $342.1 $- $342.1 Other $13.3 $36.9 $50.2 + Profit share from JV Adj. EBITDA $102.3 $(46.2) $56.1 Interest Expense $36.7 $(32.3) $4.4 - Term loan paid off 1 Adjusted Net Income $26.8 $17.0 Adjusted EPS $0.86 $0.55

------

![Slide 12](le-ex99_2s12.jpg)

Outlook 12 Q2 Fiscal 2026 Full Year Fiscal 2026 Net Revenue $290M to $310M $1.3B to $1.4B Net Income / (loss) $(5)M to $(2)M $310M to $320M Adjusted Net Income / (loss) $2M to $5M $10M to $20M Adjusted Diluted EPS $0.06 to $0.16 $0.32 to $0.65 Adjusted EBITDA $11M to $14M $68M to $78M Three-Year Targets Net Revenue CAGR Mid Single Digits Growing Adjusted EBITDA Margin High Single Digits

------

![Slide 13](le-ex99_2s13.jpg)

Lands' End Potential Value Creation Opportunities from the JV 1 Representative multiples subject to change due to market conditions or relative performance 13 JV Generates Revenue WHP Global Event Valued at Market Multiple Establishes JV Valuation >15x EBITDA1 illustrative valuation multiple for scaled brand management companies 50% of JV profits are distributed to Lands' Endon a quarterly basis 50% JV value accrues to Lands' Endin the event of possible monetization event JV earns royalties from: Lands' End operations Existing licenses transferred to the JV New licenses for channels, geographies and categories

------

![Slide 14](le-ex99_2s14.jpg)

Illustrative Value of Lands' End's JV Stake Following WHP Global Monetization Event 1 The JV EBITDA is calculated pursuant to Exhibit B of the Amended and Restated Limited Liability Company Agreement 2 Based on 30M shares outstanding Key Contextand Assumptions In certain possible WHP Global monetization events, Lands' End may, or be required to, exchange its JV stake for equity in WHP Global Exchange value is determined by JV EBITDA at the time of the event Lands' End's JV interest is valued at the same multiple applied to WHP Global equity in the transaction Hypothetical scenarios illustrate potential value of Lands' End's stake at the time of a possible WHP Global monetization event These hypothetical scenarios reflect potential outcomes based on assumed levels of JV EBITDA and WHP Global transaction multiples. There can be no assurance these events will occur, or if they do occur, that the results illustrated will be achieved. Actual valuation metrics, in the event of a transaction, will be subject to market conditions, the terms of the LLC Agreement and other factors outside of the control of Lands' End. Scenario 1 Scenario 2 JV EBITDA1 $100M $150M WHP Global Monetization Event Multiple 13x 15x JV Valuation on WHP Global Monetization Event $1.3B $2.25B Lands' End JV Ownership Stake 50% 50% Value to Lands' End $650M $1,125M POTENTIAL INCREMENTAL VALUE PER LANDS' END SHARE2 ~$22 ~$38

------

![Slide 15](le-ex99_2s15.jpg)

Four Key Levers to Drive Shareholder Value 15 1 Enhanced Financial Flexibility Eliminated term loan debt and materially reduced interest expense, freeing capital to invest in growth 2 Robust Operational Execution Enables organic growththrough DTC and B2Bchannels with disciplined cost management drivingtop- and bottom-line gains 3 Returning Capital to Shareholders Up to $100M sharerepurchase program authorized through March 2029 4 AdditionalJV Upside 50% JV profit share with quarterly distributions, plus potential equity exchange at possible WHP Global monetization event

------

![Slide 16](le-ex99_2s16.jpg)

Q&A

------

![Slide 17](le-ex99_2s17.jpg)

Appendix

------

![Slide 18](le-ex99_2s18.jpg)

(in millions) Net income $5.5 Income tax expense 2.2 Interest expense 36.7 Depreciation and Amortization 30.2 Corporate restructuring and other 13.9 Unmitigated tariff costs 13.0 Other 0.8 Adjusted EBITDA $102.3 (in millions) Net income $5.5 Corporate restructuring and other 13.9 Unmitigated tariff costs 13.0 Other 1.0 Tax effects on adjustments (6.5) Adjusted Net Income / (loss) $26.8 Adjusted diluted earnings per share $0.86 Fiscal 2025 Reconciliation of Non-GAAP Measures

------

![Slide 19](le-ex99_2s19.jpg)

(in millions) Net Income / (loss) $(5.0) -- $(2.0) Restructuring and other significant items 7.0 -- 7.0 Adjusted Net Income / (loss) $2.0 -- $5.0 Adjusted diluted earnings per share $0.06 -- $0.16 (in millions) Net Income / (loss) $(5.0) -- $(2.0) Depreciation, interest, other income, taxes and other significant items 16.0 -- 16.0 Adjusted EBITDA $11.0 -- $14.0 Second Quarter Fiscal 2026 Guidance Fiscal 2026 Guidance (in millions) Net Income / (loss) $310.0 -- $320.0 Depreciation, interest, other income, taxes and other significant items (242.0) -- (242.0) Adjusted EBITDA $68.0 -- $78.0 (in millions) Net Income / (loss) $310.0 -- $320.0 Restructuring and other significant items (300.0) -- (300.0) Adjusted Net Income / (loss) $10.0 -- $20.0 Adjusted diluted earnings per share $0.32 -- $0.65 Reconciliation of Non-GAAP Measures

------

![Slide 20](le-ex99_2s20.jpg)