Lands’ End, Inc. stock is trading higher on Friday after the company announced that its Board of Directors has initiated a process to explore strategic alternatives, which may include a sale, merger, or other transaction to enhance shareholder value.

The decision follows a comprehensive review, with the board seeking ways to address what it believes is the market’s undervaluation of the company.

Josephine Linden, Chair of the Board, expressed confidence in the company’s future potential, citing significant operational and financial improvements.

She stated, “Lands’ End is a classic American lifestyle brand,” and emphasized that the board is committed to exploring strategic options in consultation with legal and financial advisors to ensure the best outcome for shareholders.

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This announcement follows a request from major shareholder Edward S. Lampert, who urged the company in February to consider initiating a strategic sale process.

In response, the board acknowledged the letter and assured that it was carefully reviewing all suggestions and pursuing a strategy in the best interest of all stakeholders.

Lands’ End has engaged Perella Weinberg Partners as its financial advisor and Wachtell, Lipton, Rosen & Katz as its legal advisor to guide the process.

The company also indicated that it would not provide further updates until a decision is made regarding the next steps.

According to Benzinga Pro, LE stock has gained over 25% in the past year.

Price Action: LE shares are trading higher by 3.29% to $11.60 at last check Friday.

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