Lands’ End, Inc. (NASDAQ:LE) reported fiscal second-quarter net revenue of $302.0 million, up 2.7% from $294.1 million a year earlier. Gross margin expanded 320 basis points to 52.0%, yet company-defined non-GAAP adjusted EBITDA declined 25% to $11.3 million from $15.1 million. The adjusted EBITDA margin consequently fell to 3.7% from 5.1%.
