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Lands' End whipsaws amid dismal quarterly earnings

An employee organizes Lands' End Inc. apparel.
Patrick Fallon | Bloomberg | Getty Images
An employee organizes Lands' End Inc. apparel.

Shares of Lands' End traded in a wide range Wednesday after the retailer posted quarterly earnings that were well below analysts' expectations.

The company posted a fiscal first-quarter loss of 18 cents a share on revenue of $273.4 million. Analysts polled by Reuters expected Lands' End to post earnings per share of 2 cents.

Lands' End also said its inventory rose 8.9 percent to $309.9 million on April 29, from $284.6 million on May 1, 2015.

"While we are encouraged by the initial wins, our financial results in the first quarter were impacted by the overall weakness in the retail environment, including aggressive discounting and promotional activity," CEO Federica Marchionni said in a statement.

The stock closed down 5.7 percent, despite a brief recovery earlier in the day.