Introduction to Lands’ End
Lands’ End is near the close of its journey in Frisco. The Preston Ridge store, which opened about a half-decade ago, is set to shutter next month, according to the company in an emailed statement. There’s still another store devoted to Lands’ End in North Texas with the site in The Shops at Park Lane in Dallas.
Reason for Closure
With the store lease coming to an end ”and based on the financial performance of this location only, we have made the difficult decision to close the store," the company said. The store had been located there since June 2020, initially surviving the challenges of the pandemic. The Dallas store opened that same year.
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About Lands’ End
The company has no plans to close any additional stores, it said in the email. Dodgeville, Wis.-based Lands’ End is a clothing retailer with a comfortable, coastal perspective that sells everything from outerwear to shorts to footwear. Lands’ End has seen challenges, including a decline in revenue. In March, the company announced that its board initiated a process to explore strategic alternatives, including a sale, merger or similar transaction involving the company to maximize shareholder value.
Financial Performance
Revenue fell in the second quarter to $294.1 million, a decline of 7.3% from the year-ago period. Still, CFO Bernie McCracken pointed to bright spots, including a gross margin expansion. This indicates that while the company is facing challenges, there are areas of improvement and potential for growth.
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History of Lands’ End
Lands’ End, which calls itself “classic American lifestyle,” was founded in 1963 to sell sailboat hardware and equipment by catalog before it underwent evolutions including teaming up with Sears. Lands’ End, based in Wisconsin, was spun off from Sears as a publicly traded company in 2014 — and later started opening more of its own locations.
Closure Date
The store in Frisco is set to close Oct. 25. This marks the end of an era for the location, which has been serving the community for several years.
Conclusion
The closure of the Lands’ End store in Frisco is a significant event for the local retail scene. While the company has no plans to close additional stores, the decline in revenue and exploration of strategic alternatives indicate challenges ahead. Despite these challenges, Lands’ End remains a prominent clothing retailer with a loyal customer base. The history of the company, from its founding in 1963 to its current status as a publicly traded company, is a testament to its enduring presence in the retail industry.
FAQs
Q: Why is the Lands’ End store in Frisco closing?
A: The store lease is coming to an end, and based on the financial performance of this location, the company has made the difficult decision to close the store.
Q: Are there any other Lands’ End stores in North Texas?
A: Yes, there is another store located in The Shops at Park Lane in Dallas.
Q: What is Lands’ End known for?
A: Lands’ End is a clothing retailer with a comfortable, coastal perspective that sells everything from outerwear to shorts to footwear.
Q: What is the history of Lands’ End?
A: Lands’ End was founded in 1963 to sell sailboat hardware and equipment by catalog before it underwent evolutions including teaming up with Sears. It was spun off from Sears as a publicly traded company in 2014.
Q: When is the Lands’ End store in Frisco set to close?
A: The store is set to close on October 25.
