LE — what changed in the latest 10-Q
A section-by-section comparison of LE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-06-09 vs the prior 10-Q · 2025-12-09
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +70 | −83 | ~9 | 30 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 0 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 0 |
| Legal proceedings | Text added/removed | +1 | 0 | ~5 | 3 |
| Risk factors | Some risk factors updated | +24 | −1 | 0 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-06-09
JV – Joint venture with WHP Global in which the Company owns 50% of the joint venture entity, LE Topco, LLC
WHP Transaction – The transaction which, (i) the Company contributed all of its intellectual property and related assets associated with the “Lands’ End” brand, including all of the license agreements entered into in connection with Lands’ End’s licensing business (the “Contributed Assets”) to LE To…
Lands’ End is a leading digital retailer of solution-based apparel, swimwear, outerwear, accessories, footwear, home products and uniforms. We offer products online at www.landsend.com, through third-party distribution channels and our own Company Operated stores. We also offer products to businesse…
Licensing earned royalties on the use of our trademark and any fulfillment fees for fulfillment services provided by us through the closing of the WHP Transaction. Effective April 1, 2026, the licensing segment earns fulfillment fees for fulfillment services provided by us.
On January 26, 2026, we entered into a Membership Interest Purchase Agreement (“MIPA”) with WH Topco, L.P., a Delaware limited partnership doing business as WHP Global. On April 1, 2026 the MIPA and related transactions were closed and funded (the “Closing”), pursuant to which, (i) we contributed al…
Text removed vs the prior filing · source: 10-Q · 2025-12-09
GMV – Gross merchandise value equals total order value of all Lands’ End branded merchandise sold to customers through business-to-consumer and business-to-business channels, as well as the estimated retail value of the merchandise sold through third party distribution channels
Term Loan Adjusted SOFR – SOFR plus adjustments of either (a) 0.11448% for a one-month interest period, (b) 0.26161% for a three-month interest period, or (c) 0.42826% for a six-month interest period
Lands’ End is a leading digital retailer of solution-based apparel, swimwear, outerwear, accessories, footwear, home products and uniforms. We offer products online at www.landsend.com, through third-party distribution channels, our own Company Operated stores and third-party license agreements. We …
Licensing earns royalties on the use of our trademark and any fulfillment fees for fulfillment services provided by us.
Macroeconomic issues which impact consumer discretionary spending, such as realized inflation-based price increases and high interest rates, have continued to have an impact on our business. Apparel purchases historically have been influenced by domestic and global economic conditions, which may neg…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-06-09
During the fiscal quarter ended May 1, 2026, the Company implemented a new warehouse management system ("WMS") as part of its ongoing supply chain modernization initiative. In connection with this implementation, the Company modified certain internal controls over financial reporting related to inve…
Text removed vs the prior filing · source: 10-Q · 2025-12-09
There have been no changes in the Company’s internal controls over financial reporting identified in connection with the evaluation required by Rules 13a-15 under the Exchange Act during the most recently completed fiscal quarter ended October 31, 2025 that have materially affected, or are reasonabl…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-06-09
Plaintiffs filed a petition for a writ of certiorari with the U.S. Supreme Court seeking review of the Seventh Circuit’s decision. Lands’ End continues its vigorous defense of this case and believes the claims are without merit.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-06-09
The following risk factors supplement and, to the extent inconsistent therewith, supersede the risk factors previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended January 30, 2026, filed with the SEC on March 26, 2026. Except as set forth below, there have been no…
We have incurred and could continue to incur non-cash charges due to impairment of intangible assets and long-lived assets.
As of January 30, 2026, our intangible asset consisted of our trade name, which has since been contributed to a 50/50 joint venture. The trade name is subject to testing for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired, with s…
Long-lived assets, primarily property and equipment, are also subject to testing for impairment if events or changes in circumstances indicate that the asset might be impaired. A significant amount of judgment is involved in our impairment assessment. If actual results fall short of our estimates an…
The failure to maintain our license agreement relating to the Lands’ End brand could have a material adverse impact on our business.
Text removed vs the prior filing · source: 10-Q · 2025-12-09
There have been no material changes to the risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended January 31, 2025, filed with the SEC on March 27, 2025, and as disclosed on the Company’s Quarterly Report on Form 10-Q for the quarter ended May 2, 2025, filed with the S…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice