Welcome to our dedicated page for Duluth Holdings news (Ticker: DLTH), a resource for investors and traders seeking the latest updates and insights on Duluth Holdings stock.
Duluth Holdings Inc. (NASDAQ: DLTH), commonly known as Duluth Trading Company, is a distinctive lifestyle brand rooted in the heart of Mount Horeb, Wisconsin. The company specializes in the design, development, and sale of high-quality casual wear, workwear, outdoor apparel, and accessories for both men and women. Renowned for a unique blend of humor and practicality, Duluth Trading offers innovative products like Ballroom® Jeans, which provide unparalleled comfort with their crouch-friendly design, Buck Naked™ Underwear, and the iconic Longtail T® shirts that address common wardrobe malfunctions like plumber's butt.
Since its founding in 1989, Duluth Trading has expanded rapidly, operating through a thoughtful combination of online sales, catalog distribution, and an extensive network of retail stores across the Midwest and beyond. The company’s product portfolio boasts a variety of brands including Alaskan Hardgear, Armachillo, Dry on the Fly, Wild Boar Mocs, and many more, which contribute to its diverse revenue stream spanning apparel, footwear, and hard goods.
In recent developments, Duluth Trading has demonstrated a strong commitment to innovation and operational efficiency. The brand recently celebrated the launch of a new highly automated fulfillment center in Adairsville, Georgia, designed to enhance customer experience with faster shipping times. This strategic investment is part of Duluth Trading’s broader vision, termed the Big Dam Blueprint, aimed at bolstering supply chain capabilities and supporting long-term profitable growth.
Despite a challenging retail environment marked by fluctuating consumer preferences and economic uncertainties, Duluth Trading continues to thrive. Recent achievements include a 40% sales increase in their spring Garden, Landscaping and Planting collection and a 30% boost in their AKHG sub-brand for women, underscoring the ongoing consumer shift towards outdoor recreation. Financially, Duluth Trading maintains a solid position with significant cash reserves, no outstanding bank debt, and a disciplined approach to inventory management.
The company’s marketing strategy remains a cornerstone of its success, leveraging humor and storytelling to forge strong emotional connections with customers. Duluth Trading's
Duluth Trading Company announced its Q1 FY2024 financial results, with net sales of $116.7 million, reflecting a 5.7% decline year-over-year. The company reported a net loss of $7.9 million and an Adjusted EBITDA of $1.8 million. Despite the decline, inventory composition is healthy, and liquidity stands at $196 million. Direct-to-consumer sales decreased by 5.1%, and retail store sales fell by 6.8%, driven by lower traffic but mitigated by strong conversion rates. Gross profit fell to $61.6 million, or 52.8% of net sales. Selling, general, and administrative expenses increased slightly to $70.6 million. For fiscal 2024, Duluth projects net sales of $640 million, Adjusted EBITDA of $39 million, and an EPS of approximately ($0.22) per diluted share.
Duluth Trading Company (NASDAQ: DLTH) will release its first quarter 2024 financial results on May 30, 2024, before the market opens. The company will host a conference call and audio webcast at 9:30 am Eastern Time on the same day to discuss the results. Investors can participate in the live conference call by dialing 1-844-875-6915 (domestic) or 1-412-317-6711 (international). A replay of the call will be available until June 6, 2024, using access code 9827649. Additionally, a live and archived webcast of the call will be accessible on the company's investor relations website. Pre-registration for expedited entry into the call is available.
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