Lands' End rises on joint venture announcement

Shares of casualwear chain Lands' End Inc LE.O rise as much as 42.6% to a more than three-month high of $20.04

Stock set for its best day since March 2020, if gains hold

Co and WHP Global form joint venture to unlock the value of Lands’ End’s intellectual property

LE will receive $300 million of gross cash proceeds; deal enables full repayment of its term loan

WHP Global to pay co in cash for 50% controlling ownership stake in joint venture

WHP Global will commence tender offer for up to $100 million of Lands’ End shares at $45 per share

Under agreement, LE will continue operating existing business using contributed intellectual property in exchange for royalty payments

Stock rose 10.5% in 2025