RETAILING

Lands’ End Profit Plunges: The Dodgeville, Wis.-based catalogue retailer of traditionally styled casual wear, citing steep merchandise markdowns and higher mailing costs, said profit tumbled to $1.3 million, or 4 cents a share, in its fiscal first quarter ended April 29, from $4.9 million, or 14 cents a share, in the year-earlier period. Sales rose to $207.1 million from $187 million. Lands’ End Inc. said international and new business accounted for nearly all of the quarterly sales increase but that the operations have higher costs than its core catalogue business, which showed no improvement from last year. Selling, general and administrative expenses rose 24% to $89.2 million. As a percentage of net sales, these costs jumped to 43.1% from 38.5% over the year.