Duluth Holdings Slips To Loss In Q4, Sales Down; Sees Weak Sales In FY25 Below Market

(RTTNews) - Duluth Holdings Inc., dba Duluth Trading Co. (DLTH), a lifestyle brand of workwear, casual wear, outdoor apparel and accessories, reported Thursday that its fourth-quarter net loss was $5.59 million, compared to prior year's net income of $6.78 million.

Loss per share was $0.17, compared to earnings per share of $0.21 a year ago.

Adjusted net loss was $1.5 million or $0.04 per share. The Wall Street analysts on average expected the company to report earnings of $0.11 per share. Analysts' estimates typically exclude special items.

Net sales decreased 1.8% to $241.27 million from $245.61 million in the prior year. The Street was looking for sales of $252.86 million.

Direct-to-consumer net sales increased 0.4% to $172.9 million driven by greater penetration of mobile. Retail store net sales decreased 6.9% to $68.4 million.

Looking ahead, for fiscal 2025, the company projects adjusted EBITDA in the range of $20 million to $25 million and net sales in the range of $570 million to $595 million, lower than last year's $626.63 million.

Analysts expect sales of $642.43 million for the year.

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