From GlobeNewswire: 2025-03-13 05:45:00

Duluth Holdings Inc. reported net sales of $241.3 million in the fourth quarter and $626.6 million for the full fiscal year, with liquidity of $103.3 million and no debt on the credit facility. However, the company saw a net loss of $5.6 million in the fourth quarter and $43.6 million for the fiscal year, with adjusted net loss figures provided as well.

The company’s fourth quarter results were impacted by delays in processing at their legacy fulfillment center, leading to adjusted promotional strategies. Despite an increase in total inventory compared to the previous year, a higher unit velocity during Black Friday and Cyber Monday helped reduce seasonal and clearance inventory. Duluth Trading plans to expand collections and introduce new products.

In terms of operating results, net sales decreased 1.8% to $241.3 million, with direct-to-consumer net sales increasing by 0.4% and retail store net sales decreasing by 6.9%. Gross profit decreased by 10.1% primarily due to steeper discounting, while selling, general, and administrative expenses increased by 1.5%.

Looking ahead to fiscal 2025, Duluth Trading provided an outlook with net sales projected in the range of $570 million to $595 million and adjusted EBITDA estimated between $20 million to $25 million. Capital expenditures, including software hosting costs, are expected to be approximately $20 million. A conference call with analysts and investors will be held to discuss these results further.

Non-GAAP measurements like adjusted EBITDA, Free Cash Flow, and Adjusted Net Loss were provided to give additional meaningful comparisons between current and prior results. Management believes these metrics offer insight into operating trends and effectiveness of business strategies. Forward-looking statements were also included, cautioning potential risks and uncertainties affecting future performance.



Read more at GlobeNewswire:: Duluth Holdings Inc. Announces Fourth Quarter and Fiscal