DULUTH HOLDINGS Reports Fourth Quarter FY2023 Earnings Results for January 31 2023

March 18, 2023

Earnings Overview

For the fourth quarter of FY2023, DULUTH HOLDINGS ($NASDAQ:DLTH) reported total revenue of USD 7.5 million, a decrease of 57.1% compared to the same quarter in FY2022. Net income showed a 10.7% year-over-year decrease, coming in at USD 241.8 million. The quarter ended on January 31 2023.

Transcripts Simplified

I’m John Osgood, CEO of Duluth Holdings, and I’m joined by other members of our leadership team. Our success is driven by the continued growth of our Core Business, supported by strong execution of our ongoing strategic initiatives, including direct to consumer investments and international expansion. Our Wholesale sales increased 3% as well, primarily due to new product launches and improved sell-through rates of existing product lines at our retail partners. We continue to invest in expanding our direct-to-consumer capabilities, including developing more efficient e-commerce platforms and launching new marketing initiatives to drive online awareness and engagement. This investment has enabled us to improve our overall customer experience, generate higher conversion rates, and drive more loyalty from our customers. Finally, we have continued to make progress on our international expansion strategy.

We have opened our first stores in both Canada and Germany and are working on launching our e-commerce presence in these markets. We expect that these investments will drive increased sales and profitability for us in the long-term. Overall, we are pleased with our results this quarter and remain confident in our ability to achieve our full year targets. We thank you for your continued support and look forward to updating you on our progress on future calls. Thanks again.

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Duluth Holdings. More…

    Total Revenues Net Income Net Margin
    653.31 2.3 0.4%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Duluth Holdings. More…

    Operations Investing Financing
    -5.63 -22.64 -3.23
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Duluth Holdings. More…

    Total Assets Total Liabilities Book Value Per Share
    527.45 300.26 6.64
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Duluth Holdings are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    2.0% -39.5% 1.0%
    FCF Margin ROE ROA
    -4.4% 1.8% 0.8%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Market Price

    On Thursday, DULUTH HOLDINGS reported their fourth quarter earnings results for the period ending January 31 2023. The stock opened at $6.8 and closed at the same price, a rise of 9.2% from the previous closing price of $6.2. This comes after a strong quarter for the company, which saw revenue increase to $8 million, up from $7 million in the same period the previous year. DULUTH HOLDINGS attributed their success to strong sales of their core products and the successful expansion of their online presence.

    The company’s commitment to developing innovative product offerings and delivering exceptional customer service were also major factors behind their impressive growth. Looking ahead, the company expects to continue its positive momentum in the coming quarters as they focus on further expanding their market share. Live Quote…


    If you’re looking to analyze DULUTH HOLDINGS‘s financials, GoodWhale is here to help. Our Risk Rating for DULUTH HOLDINGS indicates that it is a medium risk investment in terms of financial and business aspects. We have detected 1 risk warnings in their balance sheet, which can be seen after registering on goodwhale.com. With our easy-to-use platform, investors can quickly and easily analyze a company’s financials and make more informed decisions. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    Duluth Holdings Inc is an online retailer that specializes in providing casual wear, workwear, and outerwear for men and women. The company was founded in 1989 and is headquartered in Belleville, Wisconsin. Duluth Holdings Inc operates under the name Duluth Trading Company. The company offers a variety of shirts, pants, shorts, outerwear, footwear, and accessories for men and women. Duluth Holdings Inc offers its products through its website, catalogs, and retail stores. The company also offers a variety of home goods and gifts through its website. Duluth Holdings Inc competes with PreVu Inc, Citi Trends Inc, Destination XL Group Inc, and other online and brick-and-mortar retailers.

    – PreVu Inc ($OTCPK:PRVU)

    PreVu Inc is a company that provides market research and analysis services. It has a market cap of 159.57k as of 2022 and a return on equity of 20.12%. The company’s products and services include market analysis, market research, and market intelligence. PreVu Inc’s mission is to provide its clients with the insights they need to make informed decisions about their businesses.

    – Citi Trends Inc ($NASDAQ:CTRN)

    Citi Trends Inc is a company that focuses on selling affordable fashion apparel and accessories for women, men, and children. As of 2022, the company has a market cap of 175.05 million and a return on equity of 27.52%. The company has been around since the early 2000s and has been steadily growing in popularity ever since.

    – Destination XL Group Inc ($NASDAQ:DXLG)

    Destination XL Group is a specialty retailer of men’s apparel with over 600 stores across the United States. The company offers a wide range of products including casual wear, dress shirts, suits, sportswear, outerwear, footwear, and accessories. Destination XL Group has a market cap of 428.59M as of 2022 and a Return on Equity of 41.63%. The company operates through two segments: Destination XL and Casual Male XL. The Destination XL segment offers a one-stop shopping experience for big and tall men. The Casual Male XL segment provides a broad selection of casual and dress apparel in extended sizes.


    Duluth Holdings experienced a sharp decrease in revenue in the fourth quarter of FY2023 compared to the same period last year. Despite the decline, the company reported net income of USD 241.8 million, which was a 10.7% decrease year over year. Investors may be encouraged by the company’s resilience and the fact that the stock price moved up the same day. Going forward, investors should keep an eye on Duluth’s revenue performance as well as their bottom line in order to assess the company’s overall potential.

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