Edward Lampert, the manager of ESL Investments, has continued his buying spree of Lands’ End, Inc. (NASDAQ:LE). As reported in a recently amended filing with the Securities and Exchange Commission, Lampert has personally acquired 348,253 shares for approximately $5 million, taking his overall investment to 18.8 million shares or 58.7% of the company’s outstanding stock.
A retailer of casual clothing and accessories, Lands’ End, Inc. (NASDAQ:LE) stock has struggled of late. Shares have ended Monday’s trading session at $14.41 apiece, down by 37% since the start of the year. The company has made some leadership changes recently, as it struggles to remain profitable in the current retail market.
Lands’ End has appointed a new chief marketing officer, as well as new head for e-commerce, digital marketing and innovation, and multi-channel marketing departments. “[…] we continue to focus on strategically building a stronger analytics team to elevate the customer experience, while creating and communicating enticing brand messages and personalized content, both in our catalog and across all digital channels,” commented Federica Marchionni, Lands’ End CEO. The company is expected to release its next quarterly report on September 1, with analysts’ having projected earnings of $0.02 per share and $292 million in revenues.
Hedge fund interest in Lands’ End, Inc. (NASDAQ:LE) was roughly unchanged during the first quarter, as the numer of long positions stood at 12 at the end of March, the same as a quarter before. Bruce Berkowitz‘s Fairholme (FAIRX) cut its exposure by 5% to 2.92 million shares, while Eugene Lee and Paul Singh’s Fort Warren Capital Management reduced its holding by 27% to 385,036, as reported in its latest 13F filing.
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 | 6,615,280 | 0 | 6,615,280 | 12,089,599 | 18,704,879 | 58.4% |
| SPE I Partners | 45,156 | 0 | 45,156 | 011 | 45,156 | 0.1% |
| SPE Master I | 58,156 | 0 | 58,156 | 011 | 58,156 | 0.2% |
| RBS Partners | 6,718,592 | 0 | 6,718,592 | 12,089,599 | 18,808,191 | 58.7% |
| ESL Investments, Inc | 6,718,592 | 0 | 6,718,592 | 12,089,599 | 18,808,191 | 58.7% |
| Edward S. Lampert | 18,808,191 | 0 | 6,718,592 | 12,089,599 | 18,808,191 | 58.7% |
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. 12)*
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)
July 29, 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 persons 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).
