Duluth Holdings reports holiday net sales of $198.2M, down 11.6% YoY

DULUTH HOLDINGS INC.

Net sales for nine-week holiday period ended Jan 1, 2023 were $198.2M vs $224.3M prior year.
Direct net sales $127.0M (down 12.6% YoY); Retail net sales $71.2M (down 9.9% YoY).
AKHG brand grew high single digits; Women's business expected to outperform total company for the year.
Company expects to achieve low end of Q4 sales guidance; inventory levels comparable to 2019/2020.
Management to present at ICR Conference on Jan 10, 2023.

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