Added to YB: 2026-04-30
Pitch date: 2026-04-28
LE [bullish]
Lands' End, Inc.
-1.44%
current return
Author Info
No bio for this author
Company Info
Lands' End, Inc. operates as a digital retailer of apparel, swimwear, outerwear, accessories, footwear, home products, and uniforms in the United States, Europe, and internationally.
Market Cap
$352.0M
Pitch Price
$11.14
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.05
P/E
63.66
EV/Sales
0.43
Sector
Specialty Retail
Category
special_situation
Lands' End-- Negative 50% control premium for a reason?
LE: WHP Global JV values IP at $600M (12x EBITDA). LE gets $300M cash (pays down debt) + $300M JV stake convertible to Topco at 13x+ floor. WHP Topco likely worth $4-4.8B at 14-16x on $280-300M '26 EBITDA, implying LE's stake converts to $375-450M vs $300M today. Remainco $50M EBITDA at 4.5x = $225M. Sum-of-parts $675M vs $310M EV = 118% upside. Lampert control risk mitigated by WHP parity, debt-free BS limits self-dealing.
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