earnings
confidence high
sentiment negative
materiality 0.70
Duluth Holdings Q1 net loss $1.3M; sales down 7.9%; reaffirms FY2022 guidance
DULUTH HOLDINGS INC.
2023-Q1 EPS reported
-$0.04
revenue$122,904,000
- Net loss of $1.3M ($0.04 diluted loss) vs net income of $0.5M ($0.02 EPS) a year ago.
- Net sales $122.9M, down 7.9% YoY; gross margin improved 470 bps to 54.6%.
- Direct-to-consumer sales fell 12.1% to $77.7M; retail store sales up 0.4% to $45.2M.
- Adjusted EBITDA $7.9M (6.4% of sales); FY2022 outlook: net sales $730-755M, EPS $0.93-1.02.
- Launched Duluth by Duluth Trading Co. brand; rebranded Alaskan Hardgear as AKHG.