Lands’ End Confirms Receipt of Letter from Edward S. Lampert
Lands' End (NASDAQ: LE) has confirmed receiving a letter from Edward S. Lampert requesting the company to initiate a strategic sale process to maximize shareholder value. Josephine Linden, Chair of the Board, acknowledged that the company welcomes shareholder viewpoints on value maximization and confirmed that the Board is reviewing the letter and its suggestions.
The company has retained Perella Weinberg Partners as financial advisor and Wachtell, Lipton, Rosen & Katz as legal advisor in this matter.
Lands' End (NASDAQ: LE) ha confermato di aver ricevuto una lettera da Edward S. Lampert che richiede all'azienda di avviare un processo di vendita strategica per massimizzare il valore per gli azionisti. Josephine Linden, Presidente del Consiglio, ha riconosciuto che l'azienda accoglie i punti di vista degli azionisti sulla massimizzazione del valore e ha confermato che il Consiglio sta esaminando la lettera e le sue proposte.
L'azienda ha incaricato Perella Weinberg Partners come consulente finanziario e Wachtell, Lipton, Rosen & Katz come consulente legale in questa questione.
Lands' End (NASDAQ: LE) ha confirmado haber recibido una carta de Edward S. Lampert solicitando a la empresa que inicie un proceso de venta estratégica para maximizar el valor para los accionistas. Josephine Linden, Presidenta de la Junta, reconoció que la empresa da la bienvenida a las opiniones de los accionistas sobre la maximización del valor y confirmó que la Junta está revisando la carta y sus sugerencias.
La empresa ha contratado a Perella Weinberg Partners como asesor financiero y a Wachtell, Lipton, Rosen & Katz como asesor legal en este asunto.
랜즈 엔드 (NASDAQ: LE)는 에드워드 S. 램퍼트로부터 주주 가치를 극대화하기 위해 전략적 매각 프로세스를 시작해 달라는 요청을 담은 편지를 받았다고 확인했습니다. 조세핀 린든, 이사회 의장은 회사가 가치 극대화에 대한 주주의 의견을 환영한다고 인정하며, 이사회가 편지와 그 제안을 검토하고 있음을 확인했습니다.
회사는 이 문제에 대해 페렐라 와인버그 파트너스를 재무 자문사로, 왁텔, 리프톤, 로젠 & 카츠를 법률 자문사로 선정했습니다.
Lands' End (NASDAQ: LE) a confirmé avoir reçu une lettre de Edward S. Lampert demandant à l'entreprise d'initier un processus de vente stratégique pour maximiser la valeur pour les actionnaires. Josephine Linden, Présidente du Conseil, a reconnu que l'entreprise accueille les points de vue des actionnaires sur la maximisation de la valeur et a confirmé que le Conseil examine la lettre et ses suggestions.
L'entreprise a retenu Perella Weinberg Partners comme conseiller financier et Wachtell, Lipton, Rosen & Katz comme conseiller juridique dans cette affaire.
Lands' End (NASDAQ: LE) hat bestätigt, dass es einen Brief von Edward S. Lampert erhalten hat, in dem das Unternehmen aufgefordert wird, einen strategischen Verkaufsprozess einzuleiten, um den Aktionärswert zu maximieren. Josephine Linden, Vorsitzende des Vorstands, erkannte an, dass das Unternehmen die Standpunkte der Aktionäre zur Wertmaximierung begrüßt und bestätigte, dass der Vorstand den Brief und dessen Vorschläge prüft.
Das Unternehmen hat Perella Weinberg Partners als Finanzberater und Wachtell, Lipton, Rosen & Katz als Rechtsberater in dieser Angelegenheit beauftragt.
- Strategic sale process could potentially maximize shareholder value
- Engagement of top-tier financial and legal advisors indicates serious consideration of strategic alternatives
- Potential uncertainty around company's future direction
- Possible indication of shareholder pressure for changes in company strategy
Insights
Edward S. Lampert's request for Lands' End to initiate a strategic sale process represents a potentially transformative development for the apparel retailer. This move isn't entirely surprising given Lampert's historical connection to the company - he was Chairman of Sears Holdings when it owned Lands' End before its 2014 spinoff, giving him unique insights into the business and its potential value.
The Board's engagement of elite advisors Perella Weinberg Partners and Wachtell, Lipton, Rosen & Katz is particularly telling. These firms are typically retained for high-stakes corporate transactions, with Wachtell specifically known for both M&A work and defending against unwanted advances - suggesting the Board is preparing for multiple scenarios, including a possible contested situation.
With a market capitalization of
The timing of Lampert's request likely reflects his assessment that Lands' End's current market valuation doesn't reflect its intrinsic value, particularly its brand equity and customer relationships. The Board's carefully worded response indicates they're taking this seriously while maintaining their fiduciary duty to consider all shareholders' interests.
This development introduces several potential outcomes: a full company sale, partial investment, strategic partnership, or internal restructuring. Each scenario would carry different implications for shareholders, employees, and the company's long-term strategic direction.
DODGEVILLE, Wis., Feb. 25, 2025 (GLOBE NEWSWIRE) -- Lands’ End, Inc. (NASDAQ: LE), today confirmed that it has received a letter from Edward S. Lampert requesting that the Company initiate a strategic sale process to maximize shareholder value.
Josephine Linden, Chair of the Board, stated, “The Lands’ End Board of Directors welcomes shareholder viewpoints on how best to maximize the value of their investment. The Board is reviewing the letter and its suggestions and is committed to pursuing a path that it believes is in the best interests of all Lands’ End shareholders.”
Perella Weinberg Partners serves as Lands’ End’s financial advisor and Wachtell, Lipton, Rosen & Katz serves as Lands’ End’s legal advisor.
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, our own Company Operated stores and third-party license agreements. 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.
This press release contains forward-looking statements that involve risks and uncertainties. See the risks, uncertainties and factors discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2024, filed with the Securities and Exchange Commission on April 3, 2024, for important factors and uncertainties which, among others, could cause actual results to differ materially from those described in these forward-looking statements. 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
Media:
FGS Global
Andy Duberstein/Hayley Cook
LandsEnd@fgsglobal.com
FAQ
What is Edward S. Lampert requesting from Lands' End (LE)?
How has Lands' End's Board responded to Lampert's letter in February 2025?
Which financial and legal advisors are assisting Lands' End (LE) in this matter?
Who is currently serving as the Chair of Lands' End's Board?
