- Telsey Advisory Group analyst Dana Telsey reiterated the Less Risk rating on the shares of Lands’ End Inc (NASDAQ:LE) with a price target of $18.00.
- The company announced the appointment of Andrew McLean as the next CEO, following the planned retirement of CEO Jerome Griffith, effective at the end of FY22.
- To ensure a smooth transition, McLean will join the company as CEO-Designate and Board member on November 1, 2022. Griffith will continue to serve as a Director after his retirement.
- Related: Lands’ End Picks Andrew McLean To Succeed Jerome Griffith As CEO
- The analyst believes McLean is joining the company at an opportune time as the brand is well-positioned with multiple growth opportunities.
- Lands’ End is in the early innings with its third-party partnerships, while e-commerce revenue is benefiting from increasing brand awareness, and the Outfitters business should continue to expand as work, travel, and school normalizes post-pandemic.
- Also Read: Lands’ End Clocks 9% Sales Decline In Q2; Cuts FY22 Outlook
- Telsey anticipates some near-term pressure given the macroeconomic environment and expected promotional levels in the second half of the year. Meanwhile, she believes Lands’ End is still well-positioned to capitalize on its multiple growth initiatives.
- She also sees tangible and differentiated topline growth drivers, including the Outfitters and Third Party businesses, which can be accretive to the operating margin.
- Price Action: LE shares are trading lower by 10.1% at $9.26 on the last check Tuesday.
ClearOne Announces The Appointment Of Derek Graham As Permanent CEO Effective January 24
ClearOne (NASDAQ:CLRO), today announced that its Board of Directors has appointed Derek Graham as Chief Executive Officer (CEO), effective January 24. 2023.
Derek Graham was appointed to the role of interim CEO in May
