Operator
Hello and welcome everyone joining today's lunch and second quarter fiscal 2026 earnings call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. To register to ask questions at any time, please press star 1 on your telephone keypad. Please note this call is being recorded. We are standing by if you should need any assistance. It is now my pleasure to turn the meeting over to Tom Altholz. Please go ahead.
And thank you for joining us for Displansend.com. To join you today with Charles to note the information we're about for materially from these SEC files, the company's outlook to change. During this, to non-GAAP measures. These non-GAAP measures are not prepared for GAAP measures.
And e-commerce companies across the business, our teams made deliberate decisions for half of the year. And the U.S. e-commerce lands end in front of new and younger audiences and challenges process for U.S. e-commerce reinforcing our confidence.
The second quarter of 9% compared to the second quarter, Charlie discussed a decline under basis points, reflecting the benefits of our disciplined strategy by individual marketing value added to at least 1% year-over-year. And by the IE, an increased cost associated with our new warehouse image of net revenue, digital marketing, the net income of $2.7 million, or $0.09 per cent, EBITDA of $11 million in the second quarter. year decrease the second quarter worth 342 largely due to the impact to remain within tip to our debt we ended the second powers last year 100 million dollars in cash transaction million dollars as moving to guidance our guidance reflects the imprint implemented rates and we are continuing 2020 26 we expect net revenue of 300 million dollars of 2 million dollars 14 million to 2026, we now expect adjusted net income of $30 million in the range of 60.
Scaling e-commerce capability as we move into the next chapter of commerce engagement.
Operator
Thank you. If you would like to ask a question, please press star 1 on your keypad. To leave the queue at any time, press star 2. Once again, that is star and 1 to ask a question. We'll take our first question from Dana Telsey with Telsey Group. Please go ahead. Your line is open.
Good morning, everyone, and welcome, Charlie. Charlie, in your purview, as you think about the opportunities for Lands End going forward and given your background, how do you see the enhanced execution, the involvement in technology, what happens with e-commerce, how does it fit the different categories, whether it's the e-commerce, international, outfitters, third party, and obviously the new relationship with WHP. What's your North Star going forward? And then I have a quick question on just the here and now.
Thank you. The warehouse management system, I think which the second quarter also had some impacts, is that complete now? And is there anything on the shaping of third and fourth quarter and how you're seeing it, whether from a margin perspective or a top line perspective, how it differs this year from last year? got it and then just the third quarter guide anything to unpack there on the margin side
and fourth quarter and remainder of expectations for tariffs thank you yeah dana um the current and uh and the rest of the there isn't really any other year-on-year differences that we'll be dealing with we feel very good about the guidance we gave and and the expectation thank Thank you.
Operator
Our next question comes from Eric Better with SCC Research. Please go ahead. Your line is open.
Good morning. Just a few quick questions. Let's talk about international here. What should we be thinking about? I know prior people it was a kind of a fashion, a little bit more fashion forward, a little more of a driver of trend. Is that still how you look at that? and how does that fit in terms of the JV and the other international opportunities?
Talk about the WHP piece a little bit. When do you believe – okay, so where are we in terms of adding new licenses, and when do you believe that those licenses will start to kick in and help drive, you know, the joint venture overall profitability, which you share?
Our guidance reflects the – and a few of the new –
You mentioned here about the potential next year for new software and some of the potential positives, some of the potential rollouts, I think potential efficiencies you need to get from that. You know, how big should we think of that as an opportunity now in 27 and going forward? Thank you.
And you would see the – Thank you.
Operator
Our next question comes from Michael Kopinski with Noble Capital Markets. Please go ahead. Your line is open.
And, Charlie, welcome to Land's End. The company appears to, you know, the quarter indicated that you have some favorable underlying revenue trends, and I kind of want to drill down on that a little bit. The outfitters grew like 4.4% despite continued school uniform processing challenges. And I was just wondering, can you give us some color on how the order book is trending now? And what growth rate do you believe the business can sustain once operations are fully normalized? And in Q2, the U.S. commerce revenue increased 9%. And I think part of that was a carryover for the Q1 distribution disruption. What would have been the underlying e-commerce growth, excluding that catch-up benefit? it?
The U.S. business on a year-to-day basis.
And obviously, inventory is up a little bit, and it seems like you're saying that it's a little bit more normalized. Can you talk about specific inventory that you're leaning into into the quarter as you kind of go into the holiday season here?
Well, I think one of the keys, right, is find...
Gotcha. That's all I have for now. Thank you.
Operator
Thank you. Please conclude our Q&A session as well as our conference call. Thank you for your participation. You may now disconnect.
