Duluth Holdings Inc. (DLTH) Reports Mixed Q3 Results Amid Market Volatility
Duluth Holdings Inc. (DLTH) saw its stock plummet 17.8% to $2.57 despite showing operational resilience in its fiscal third quarter. Net sales declined 9.6% year-over-year to $114.9 million, driven by a 15.5% drop in direct-to-consumer revenue. Retail sales edged up 0.4%, buoyed by new store openings and higher average order values.
Cost management efforts bore fruit, with improved gross margins and reduced losses. The company ended the quarter with $8.2 million in cash, maintaining a strong liquidity position. Duluth revised its fiscal 2025 sales guidance downward while maintaining its EBITDA forecast.