13D Filing: ESL Partners, L.P. and Lands’ End, Inc. (LE)

Lands’ End, Inc. (NASDAQ:LE) has been recently included in a 13D filing with the Securities and Exchange Commission. According to the filing, Edward Lampert’s ESL Investments currently owns some 17.18 million shares of the $672 million retailer. ESL investments is an activist shareholder in Lands’ End with ownership of 54% of the company’s outstanding stock. Lands’ End was spun-off from Sears Holdings Corp (NASDAQ:SHLD) in 2013. Edward Lampert is the CEO and Chairman of Sears Holdings.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
ESL Partners, L.P. 6,615,280 0 6,615,280 10,458,111 17,073,391 53.4%
SPE I Partners, LP 45,156 0 45,156 0 45,156 0.1%
SPE Master I, LP 58,156 0 58,156 0 58,156 0.2%
RBS Partners, L.P. 6,718,592 0 6,718,592 10,458,111 17,176,703 53.7%
ESL Investments, Inc. 6,718,592 0 6,718,592 10,458,111 17,176,703 53.7%
Edward S. Lampert 17,176,703 0 6,718,592 10,458,111 17,176,703 53.7%

Page 1 of 12 SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)*

Lands’
End, Inc.

(Name of Issuer)

Common Stock

(Title of
Class of Securities)

51509F105

(CUSIP Number)

Janice V.
Sharry, Esq.

Haynes and Boone, LLP

2323 Victory Avenue, Suite 700

Dallas, Texas 75219

(214) 651-5000

(Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications)

January 19, 2016

(Date of Event which Requires Filing of this Statement)

If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for
other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be
deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).

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Page 2 of 12 SEC Filing


CUSIP No. 51509F105
  1. 

Names of
Reporting Persons.

ESL Partners, L.P.

  2.

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  x        (b)  ¨

  3.

SEC Use Only

  4.

Source of Funds (See Instructions)

OO

  5.

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

  6.

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7. 

Sole Voting Power

6,615,280

  8.

Shared Voting Power

0

  9.

Sole Dispositive Power

6,615,280

10.

Shared Dispositive Power

10,458,111

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

17,073,391

12.

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)  ¨

13.

Percent of Class Represented by Amount
in Row (11)

53.4% (1)

14.

Type of Reporting Person (See
Instructions)

PN

(1) Based upon 31,991,343 shares of Common Stock outstanding as of December 2, 2015, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 30, 2015, that was filed
by the Issuer with the Securities and Exchange Commission on December 3, 2015.

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Page 3 of 12 SEC Filing


CUSIP No. 51509F105
  1. 

Names of
Reporting Persons.

SPE I Partners, LP

  2.

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  x        (b)  ¨

  3.

SEC Use Only

  4.

Source of Funds (See Instructions)

OO

  5.

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

  6.

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7. 

Sole Voting Power

45,156

  8.

Shared Voting Power

0

  9.

Sole Dispositive Power

45,156

10.

Shared Dispositive Power

0

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

45,156

12.

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)  ¨

13.

Percent of Class Represented by Amount
in Row (11)

0.1% (1)

14.

Type of Reporting Person (See
Instructions)

PN

(1) Based upon 31,991,343 shares of Common Stock outstanding as of December 2, 2015, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 30, 2015, that was filed
by the Issuer with the Securities and Exchange Commission on December 3, 2015.

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Page 4 of 12 SEC Filing


CUSIP No. 51509F105
  1. 

Names of
Reporting Persons.

SPE Master I, LP

  2.

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  x        (b)  ¨

  3.

SEC Use Only

  4.

Source of Funds (See Instructions)

OO

  5.

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

  6.

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7. 

Sole Voting Power

58,156

  8.

Shared Voting Power

0

  9.

Sole Dispositive Power

58,156

10.

Shared Dispositive Power

0

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

58,156

12.

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)  ¨

13.

Percent of Class Represented by Amount
in Row (11)

0.2% (1)

14.

Type of Reporting Person (See
Instructions)

PN

(1) Based upon 31,991,343 shares of Common Stock outstanding as of December 2, 2015, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 30, 2015, that was filed
by the Issuer with the Securities and Exchange Commission on December 3, 2015.

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Page 5 of 12 SEC Filing


CUSIP No. 51509F105
  1. 

Names of
Reporting Persons.

RBS Partners, L.P.

  2.

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  x        (b)  ¨

  3.

SEC Use Only

  4.

Source of Funds (See Instructions)

OO

  5.

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

  6.

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7. 

Sole Voting Power

6,718,592

  8.

Shared Voting Power

0

  9.

Sole Dispositive Power

6,718,592

10.

Shared Dispositive Power

10,458,111

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

17,176,703

12.

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)  ¨

13.

Percent of Class Represented by Amount
in Row (11)

53.7% (1)

14.

Type of Reporting Person (See
Instructions)

PN

(1) Based upon 31,991,343 shares of Common Stock outstanding as of December 2, 2015, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 30, 2015, that was filed
by the Issuer with the Securities and Exchange Commission on December 3, 2015.

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Page 6 of 12 SEC Filing


CUSIP No. 51509F105
  1. 

Names of
Reporting Persons.

ESL Investments, Inc.

  2.

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  x        (b)  ¨

  3.

SEC Use Only

  4.

Source of Funds (See Instructions)

OO

  5.

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

  6.

Citizenship or Place of
Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7. 

Sole Voting Power

6,718,592

  8.

Shared Voting Power

0

  9.

Sole Dispositive Power

6,718,592

10.

Shared Dispositive Power

10,458,111

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

17,176,703

12.

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)  ¨

13.

Percent of Class Represented by Amount
in Row (11)

53.7% (1)

14.

Type of Reporting Person (See
Instructions)

CO

(1) Based upon 31,991,343 shares of Common Stock outstanding as of December 2, 2015, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 30, 2015, that was filed
by the Issuer with the Securities and Exchange Commission on December 3, 2015.

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Page 7 of 12 SEC Filing


CUSIP No. 51509F105
  1. 

Names of
Reporting Persons.

Edward S. Lampert

  2.

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  x        (b)  ¨

  3.

SEC Use Only

  4.

Source of Funds (See Instructions)

PF

  5.

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨

  6.

Citizenship or Place of
Organization

United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7. 

Sole Voting Power

17,176,703

  8.

Shared Voting Power

0

  9.

Sole Dispositive Power

6,718,592

10.

Shared Dispositive Power

10,458,111

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

17,176,703

12.

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)  ¨

13.

Percent of Class Represented by Amount
in Row (11)

53.7% (1)

14.

Type of Reporting Person (See
Instructions)

IN

(1) Based upon 31,991,343 shares of Common Stock outstanding as of December 2, 2015, as disclosed in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 30, 2015, that was filed
by the Issuer with the Securities and Exchange Commission on December 3, 2015.

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Page 8 of 12 SEC Filing


This Amendment No. 8 to Schedule 13D (this “Amendment”) relates to shares
of common stock, par value $0.01 per share (the “Common Stock”), of Lands’ End, Inc., a Delaware corporation (the “Issuer”). This Amendment amends the Schedule 13D, as previously amended, filed with the
Securities and Exchange Commission by ESL Partners, L.P., a Delaware limited partnership (“Partners”), SPE I Partners, LP, a Delaware limited partnership (“SPE I”), SPE Master I, LP, a Delaware limited partnership
(“SPE Master I”), RBS Partners, L.P., a Delaware limited partnership (“RBS”), ESL Institutional Partners, L.P., a Delaware limited partnership, RBS Investment Management, L.L.C., a Delaware limited liability
company, CRK Partners, LLC, a Delaware limited liability company, ESL Investments, Inc., a Delaware corporation (“ESL”), and Edward S. Lampert, a United States citizen, by furnishing the information set forth below. Except as
otherwise specified in this Amendment, all previous Items are unchanged. Capitalized terms used herein which are not defined herein have the meanings given to them in the Schedule 13D, as previously amended, filed with the Securities and Exchange
Commission.

Item 3. Source and Amount of Funds or Other Consideration.

Item 3 is hereby amended and supplemented as follows:

“In various open market purchases under the Watermill 10b5-1 Plan between December 15, 2015 and January 20, 2016,
Mr. Lampert acquired an aggregate of 355,869 shares of Common Stock for aggregate consideration of approximately $7,828,123 (excluding commissions) using personal funds.”

Item 5. Interest in Securities of the Issuer.

Item 5 is hereby amended and restated in its entirety as follows:

“(a)-(b) Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an
admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.

Each Reporting Person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of
Section 13(d) or 13(g) of the Act. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act
or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or
otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group with respect to the Issuer or any securities of the Issuer.

As of the time of filing on January 21, 2016, the Reporting Persons may be deemed to beneficially own the shares of the Common Stock of the
Issuer set forth in the table below.

REPORTING PERSON

NUMBER OF
SHARES
BENEFICIALLY
OWNED
PERCENTAGE
OF
OUTSTANDING
SHARES
SOLE
VOTING
POWER
SHARED
VOTING
POWER
SOLE
DISPOSITIVE
POWER
SHARED
DISPOSITIVE
POWER

ESL Partners, L.P.

17,073,391 53.4 % 6,615,280 0 6,615,280 10,458,111  (1)

SPE I Partners, LP

45,156 0.1 % 45,156 0 45,156 0

SPE Master I, LP

58,156 0.2 % 58,156 0 58,156 0

RBS Partners, L.P.

17,176,703  (1)(2) 53.7 % 6,718,592  (2) 0 6,718,592  (2) 10,458,111  (1)

ESL Investments, Inc.

17,176,703  (1)(3) 53.7 % 6,718,592  (4) 0 6,718,592  (3) 10,458,111  (1)

Edward S. Lampert

17,176,703  (1)(4) 53.7 % 17,176,703  (1)(4) 0 6,718,592  (4) 10,458,111  (1)
(1) This number includes 10,458,111 shares of Common Stock held by Mr. Lampert. Partners has entered into the Lock-Up Agreement with Mr. Lampert that restricts the purchase and sale of securities owned by
Mr. Lampert. Pursuant to the Lock-Up Agreement, Partners may be deemed to have shared dispositive power over, and to indirectly beneficially own, securities beneficially owned by Mr. Lampert. RBS, ESL and Mr. Lampert may also be
deemed to have shared dispositive power over, and to indirectly beneficially own, such securities.

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Page 9 of 12 SEC Filing


(2) This number includes 6,615,280 shares of Common Stock held by Partners, 45,156 shares of Common Stock held by SPE I and 58,156 shares of Common Stock held by SPE Master I. RBS is the general partner of, and may be
deemed to indirectly beneficially own securities beneficially owned by, Partners, SPE I and SPE Master I.
(3) This number includes 6,615,280 shares of Common Stock held by Partners, 45,156 shares of Common Stock held by SPE I and 58,156 shares of Common Stock held by SPE Master I. ESL is the general partner of, and may be
deemed to indirectly beneficially own securities beneficially owned by, RBS.
(4) This number includes 6,615,280 shares of Common Stock held by Partners, 45,156 shares of Common Stock held by SPE I and 58,156 shares of Common Stock held by SPE Master I. Mr. Lampert is the Chairman, Chief
Executive Officer and Director of, and may be deemed to indirectly beneficially own securities beneficially owned by, ESL.

(c) Other than as set forth on Annex B hereto, there have been no transactions in the class of securities reported on that were effected by
the Reporting Persons during the past sixty days or since the most recent filing of Schedule 13D, whichever is less.

(d) Not applicable.

(e) Not applicable.”

Item 7.
Material to be Filed as Exhibits.

Item 7 is hereby amended and restated in its entirety as follows:

“The following exhibits are filed as exhibits hereto:

Exhibit

Description of Exhibit

99.1 Joint Filing Agreement (incorporated by reference to Exhibit 99.1 to the Schedule 13D filed on April 8, 2014).
99.2 Letter Agreement, dated June 2, 2010, by and between ESL Partners, L.P. and Edward S. Lampert (incorporated by reference to Exhibit 99.2 to the Schedule 13D filed on April 8, 2014).
99.3 Form of Purchase and Sale Agreement, dated as of July 2, 2015, by and among the Participating Limited Partner, RBS Partners, L.P. and RBS Partners, L.P., in its capacity as general partner of either SPE I Partners, LP or SPE
Master I, LP (incorporated by reference to Exhibit 99.3 to the Amendment to the Schedule 13D filed on July 6, 2015).
99.4 Rule 10b5-1(c) Plan, dated July 2, 2015, by SPE I Partners, LP and RBS Partners, L.P. (incorporated by reference to Exhibit 99.4 to the Amendment to the Schedule 13D filed on July 6, 2015).
99.5 Rule 10b5-1(c) Plan, dated July 2, 2015, by SPE Master I, LP and RBS Partners, L.P. (incorporated by reference to Exhibit 99.5 to the Amendment to the Schedule 13D filed on July 6, 2015).
99.6 Stock Purchase Plan, dated December 11, 2015, among Edward S. Lampert, ESL Partners, L.P. and Watermill Institutional Trading LLC (incorporated by reference to Exhibit 99.6 to the Amendment to the Schedule 13D filed on
December 14, 2015).”

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Page 10 of 12 SEC Filing


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.

Date: January 21, 2016

ESL PARTNERS, L.P.
By: RBS Partners, L.P., as its general partner
By: ESL Investments, Inc., as its general partner
By:

/s/ Edward S. Lampert

Name: Edward S. Lampert
Title: Chief Executive Officer
SPE I PARTNERS, LP
By: RBS Partners, L.P., as its general partner
By: ESL Investments, Inc., as its general partner
By:

/s/ Edward S. Lampert

Name: Edward S. Lampert
Title: Chief Executive Officer
SPE MASTER I, LP
By: RBS Partners, L.P., as its general partner
By: ESL Investments, Inc., as its general partner
By:

/s/ Edward S. Lampert

Name: Edward S. Lampert
Title: Chief Executive Officer
RBS PARTNERS, L.P.
By: ESL Investments, Inc., as its general partner
By:

/s/ Edward S. Lampert

Name: Edward S. Lampert
Title: Chief Executive Officer
ESL INVESTMENTS, INC.
By:

/s/ Edward S. Lampert

Name: Edward S. Lampert
Title: Chief Executive Officer
EDWARD S. LAMPERT
By:

/s/ Edward S. Lampert

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Page 11 of 12 SEC Filing


ANNEX B

RECENT TRANSACTIONS BY THE REPORTING PERSONS IN THE SECURITIES OF

LANDS’ END, INC. PURSUANT TO THE WATERMILL 10B5-1 PLAN

Entity

Date of
Transaction

Description

of Transaction

Shares
Acquired
Shares
Disposed
Price
Per Share

Edward S. Lampert

12/15/2015 Open Market Purchases (1) 200 $ 23.00

Edward S. Lampert

12/17/2015 Open Market Purchases (1) 18,537 $ 22.9593

Edward S. Lampert

12/21/2015 Open Market Purchases (1) 50,000 $ 22.6495

Edward S. Lampert

12/22/2015 Open Market Purchases (1) 4,200 $ 22.8745

Edward S. Lampert

12/23/2015 Open Market Purchases (1) 33,624 $ 22.9986

Edward S. Lampert

12/24/2015 Open Market Purchases (1) 5,700 $ 22.9892

Edward S. Lampert

12/30/2015 Open Market Purchases (1) 4,639 $ 22.9945

Edward S. Lampert

12/31/2015 Open Market Purchases (1) 19,097 $ 22.9997

Edward S. Lampert

01/04/2016 Open Market Purchases (1) 34,208 $ 22.9406

Edward S. Lampert

01/05/2016 Open Market Purchases (1) 2,200 $ 22.9961

Edward S. Lampert

01/06/2016 Open Market Purchases (1) 20,571 $ 22.9821

Edward S. Lampert

01/07/2016 Open Market Purchases (1) 108 $ 23.00

Edward S. Lampert

01/11/2016 Open Market Purchases (1) 1,234 $ 22.8757

Edward S. Lampert

01/15/2016 Open Market Purchases (1) 15,000 $ 22.00

Edward S. Lampert

01/19/2016 Open Market Purchases (1) 114,451 $ 20.8705

Edward S. Lampert

01/20/2016 Open Market Purchases (1) 32,100 $ 20.6127
(1) Effected pursuant to the Watermill 10b5-1 Plan.

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Page 12 of 12 SEC Filing


EXHIBIT INDEX

Exhibit

Description of Exhibit

99.1 Joint Filing Agreement (incorporated by reference to Exhibit 99.1 to the Schedule 13D filed on April 8, 2014).
99.2 Letter Agreement, dated June 2, 2010, by and between ESL Partners, L.P. and Edward S. Lampert (incorporated by reference to Exhibit 99.2 to the Schedule 13D filed on April 8, 2014).
99.3 Form of Purchase and Sale Agreement, dated as of July 2, 2015, by and among the Participating Limited Partner, RBS Partners, L.P. and RBS Partners, L.P., in its capacity as general partner of either SPE I Partners, LP or SPE
Master I, LP (incorporated by reference to Exhibit 99.3 to the Amendment to the Schedule 13D filed on July 6, 2015).
99.4 Rule 10b5-1(c) Plan, dated July 2, 2015, by SPE I Partners, LP and RBS Partners, L.P. (incorporated by reference to Exhibit 99.4 to the Amendment to the Schedule 13D filed on July 6, 2015).
99.5 Rule 10b5-1(c) Plan, dated July 2, 2015, by SPE Master I, LP and RBS Partners, L.P. (incorporated by reference to Exhibit 99.5 to the Amendment to the Schedule 13D filed on July 6, 2015).
99.6 Stock Purchase Plan, dated December 11, 2015, among Edward S. Lampert, ESL Partners, L.P. and Watermill Institutional Trading LLC (incorporated by reference to Exhibit 99.6 to the Amendment to the Schedule 13D filed on
December 14, 2015).

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