Lands' End gains new 7.4% passive shareholder, FMZ Strategies LLC

Rhea-AI Filing Summary

FMZ Strategies LLC, a California firm owned and managed by AJD Siblings Corp. (CEO Frank Zarabi), has filed a Schedule 13G disclosing 2,271,192 shares of Lands' End, Inc. (LE) common stock, equal to 7.4 % of the outstanding class, as of 16 Jul 2025.

The filer reports zero sole and full shared voting & dispositive power over the stake. The Schedule is filed under Rule 13d-1(c), indicating a passive investment with no current intent to influence control. No other group members, subsidiaries, or special arrangements are identified, and the certification expressly states the holding is not part of a control-seeking transaction.

The appearance of a new 7 %+ shareholder may reduce free float and can be viewed as a vote of confidence in Lands' End’s turnaround prospects; however, the 13G filing limits expectations of near-term governance activism.

Positive

• FMZ Strategies acquired a 7.4 % stake (2.27 M shares), demonstrating institutional confidence in Lands' End.
• Increased institutional ownership may support the share price by tightening float and improving liquidity perception.

Negative

• Passive 13G filing implies no immediate strategic or governance catalyst for shareholders.
• Concentrated ownership could reduce trading liquidity if additional large holders emerge.

Insights

Financial Analyst

TL;DR: 7.4 % passive stake signals confidence, modestly positive for sentiment; no immediate strategic catalyst.

The disclosure makes FMZ Strategies the fourth-largest known holder, adding buying support to a relatively illiquid small-cap retailer. Because voting/dispositive authority is shared, the shares are likely held in pooled vehicles, limiting rapid exits. While a 13G suggests no activist push, history shows passive filers can later convert to 13D if performance lags. Net effect is incremental positive: higher institutional ownership, lower float and potential alignment with existing shareholders, but no operational impact today.

Corporate Governance Specialist

TL;DR: Ownership crosses 5 % threshold yet declares passive intent; control dynamics unchanged.

Choosing Rule 13d-1(c) indicates FMZ seeks to avoid the heightened obligations of a 13D activist filing. With zero sole voting rights, the firm cannot unilaterally influence matters requiring shareholder approval. Governance risk is low, but investors should track any future switch to a 13D or coalition building, which could alter board composition prospects. For now, the filing is not impactful to control structure but is material for disclosure compliance.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

LANDS' END, INC.

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

51509F105

(CUSIP Number)

07/16/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 51509F105

1

Names of Reporting Persons

FMZ Strategies LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,271,192.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,271,192.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,271,192.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.4 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: FMZ Strategies LLC is owned and managed by AJD SIBLINGS CORPORATION, a Delaware corporation. Frank Zarabi is the CEO of the corporation.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: LANDS' END, INC.
(b)	Address of issuer's principal executive offices: FIVE LANDS' END LANE, DODGEVILLE, WISCONSIN, 53533
Item 2.
(a)	Name of person filing: FMZ STRATEGIES LLC
(b)	Address or principal business office or, if none, residence: 5553-B BANDINI BLVD, BELL, CA 90201
(c)	Citizenship: CALIFORNIA
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 51509F105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,271,192.00
(b)	Percent of class: 7.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0.0
	(ii) Shared power to vote or to direct the vote: 2,271,192.00
	(iii) Sole power to dispose or to direct the disposition of: 0.0
	(iv) Shared power to dispose or to direct the disposition of: 2,271,192.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FMZ Strategies LLC

Signature:	/s/ Frank Zorabi
Name/Title:	CEO of AJD SIBLINGS CORPORATION, Manager of FMZ Strategies LLC
Date:	08/05/2025

FAQ

Who filed the Schedule 13G for Lands' End (LE)?

The filing was made by FMZ Strategies LLC, managed by AJD Siblings Corporation.

How many Lands' End shares does FMZ Strategies own?

FMZ reports beneficial ownership of 2,271,192 common shares.

What percentage of Lands' End's outstanding stock does this represent?

The stake equals 7.4 % of LE’s outstanding common shares.

Does FMZ Strategies seek control of Lands' End?

No. The 13G is filed under Rule 13d-1(c), and FMZ certifies the holding is passive with no control intent.

What voting power does FMZ have over the shares?

FMZ lists shared voting and dispositive power over all 2.27 M shares and no sole authority.

When was the triggering event for this filing?

The event date requiring the filing is 16 July 2025.