Duluth Q3 net sales up 1.3% to $147.1M; cuts FY2022 outlook amid margin pressure

DULUTH HOLDINGS INC.

2023-Q3 EPS reported -$0.16 revenue$411,541,000

Q3 net sales $147.1M (+1.3% YoY); gross margin fell to 52.3% from 57.6% due to promotions.
Adjusted EBITDA $1.7M; FY2022 guidance lowered: net sales $650-680M, Adj. EBITDA $42-49M.
Direct-to-consumer sales +6.8% to $91M; retail store sales -6.6% to $56.1M.
Women's sales +10% driven by AKHG sub-brand (+44% YoY); now 32% of total sales.
Inventories down 4% vs Q3 2020; liquidity $200M; $10M outstanding on revolving credit.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DULUTH HOLDINGS INC. reported Third Quarter Ended October 30, 2022 results: revenue $ 1 4 7.1 milli on.

Period: Third Quarter Ended October 30, 2022
Revenue: $ 1 4 7.1 milli on
Result: reported results

Exact text from the filing

Highlights for the Third Quarter Ended October 30 , 2022 · Net sales increase 1.3% to $ 1 4 7.1 milli on compared to $1 4 5.3 million in the prior year third quarter

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Source: SEC EDGAR

accession 0001649744-22-000030

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