Duluth Q1 net sales up 0.7% to $123.8M; margins down; reaffirms FY outlook

DULUTH HOLDINGS INC.

2024-Q1 EPS reported -$0.12 revenue$123,759,000

Net sales $123.8M (+0.7% YoY); Women's up 14.4%, AKHG sub-brand +42.5%.
Gross margin 53.0% vs 54.6% last year; lower product margin offset by lower expedited freight ($0.1M vs $3.9M).
Adjusted EBITDA $5.3M; FY outlook reaffirmed: net sales $645-660M, Adj EPS $0.02-0.08.
Inventory down 4.8% YoY to $145.0M; no revolver borrowings, cash $9.2M.
SG&A up 3.2% to $70.2M on occupancy for new fulfillment center and software amortization.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DULUTH HOLDINGS INC. reported the fiscal first quarter ended April 30, 2023 results: revenue $123.8 million. Guidance reaffirmed.

Period: the fiscal first quarter ended April 30, 2023
Revenue: $123.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

announced its financial results for the fiscal first quarter ended April 30 , 202 3 . Highlights for the First Quarter Ended A pril 30 , 202 3 · Net sales increase 0.7% to $123.8 million compared to $122.9 million in the prior year first quarter · Women’s business continue s strong momentum with net sales growth of 14.4% over prior year first quarter · AKHG

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accession 0001649744-23-000012

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