The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Dana Telsey - Telsey Group - Analyst
: Hi, good morning, everyone. The new customer acquisition, hi. The new customer acquisition increase of 20% was definitely a call out. What are
you seeing working there? What are the demographics of these new customers? And how is it informing your product development? And then
just getting some more color on the Black Friday weekend and the kickoff to this -- well, we're in the fourth quarter, what are you seeing in terms
of the promotional landscape given the fact of the strength of your margins? How much is internal versus external? And lastly, China, any percentage
of goods from China and thoughts on tariff impact and what it may mean for pricing for you? Thank you.
Question: Eric Beder - Small Cap Consumer Research - Analyst
: Good morning. Hey, let's talk a little bit of licensing. First of all, I know you talked about aggressively adding more licenses. What kind of the criteria
when you look for new licenses and where do you want to go? And could you remind us of what is new that beyond the two licenses you have
coming up for 2025? And how should we be thinking about longer term, the split kind of here between licensed product and non-licensed product?
Question: Eric Beder - Small Cap Consumer Research - Analyst
: I'm sorry, the split between longer term, what should be the split between amount of licensed products sold versus non-licensed product?
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DECEMBER 05, 2024 / 1:30PM, LE.OQ - Q3 2024 Lands End Inc Earnings Call
Question: Eric Beder - Small Cap Consumer Research - Analyst
: Great. One last question inventories. You've done a tremendous job of reducing inventories and listening, kind of to licensing and kind of where
you're resetting the manufacturing. It sounds like there is actually probably still more there. How should we be thinking about the opportunities,
inventories even though you've spent the last seven quarters reducing the inventory amount? Thank you.
Question: Eric Beder - Small Cap Consumer Research - Analyst
: Okay. Great. Thank you and good luck for the rest of the holiday season.
Question: Alex Fuhrman - Craig-Hallum - Analyst
: Hey guys, thanks for taking my question and you know, congratulations on a strong quarter during what seems like it has been a pretty promotional
holiday season, for a lot of retailers here. I wanted to ask just about the guidance, if we could just drill into the revenue versus GMV, it looks like a
little bit lower GMV guidance despite revenue guidance being within the prior range, albeit a little bit lower at the midpoint. Is there a simple
explanation there? Or is it just a matter of a small move lower and that's what all there is to it?
Question: Alex Fuhrman - Craig-Hallum - Analyst
: Okay. That's helpful, Bernie. And then just big picture, marketing over the last year or so, you guys have been spending a lot more on marketing
and seem to be getting a very strong return on that. Are there opportunities to continue to increase marketing spending next year and in future
years off of this base? Or do you feel like you found a pretty good level for now?
Question: Alex Fuhrman - Craig-Hallum - Analyst
: Okay. That's really helpful. Thank you.
Question: Steve Silver - Argus Research - Analyst
: Thanks operator and thanks for taking the questions. I was curious about the rollout of the third-party business. Over the last couple of quarters,
there's been a lot of talk about the expansion of the roster, including Nordstrom and Costco, among others. I'm curious as to how long you expect
that will take to kind of translate into increased traffic to the Lands End website, which you guys have talked about in previous quarters.
And the double-digit increase in GMV in Q3, curious as to how much of that you attribute to the third-party expansion versus other channels? I'm
just trying to get a sense as to the data you're capturing from these third-party businesses in terms of your new customer acquisitions in terms of
what percentage of that is organic versus coming to you from these third parties.
Question: Steve Silver - Argus Research - Analyst
: Great. I appreciate all the color and again, best of luck for the rest of the holiday season.
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