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Duluth Trading: Making Positive Moves
Seeking Alpha· 2024-09-15 20:15
Core Viewpoint - Duluth Trading's Q2 results exceeded investor expectations, leading to a nearly 20% increase in share price, indicating positive trends in both sales and margins, suggesting potential for above-market returns at current price levels [2][8]. Sales Performance - Q2 sales reached $141.6 million, a 2% increase from $139.1 million in Q2 of the previous year, and a significant rise from $116.7 million in Q1 2024, reflecting seasonal benefits [3][4]. - Direct-to-Consumer (DTC) sales grew by 5.6% to $91.7 million, while in-store retail sales declined by 4.4% to $49.9 million, indicating a shift in consumer purchasing behavior [3][4]. - The increase in DTC sales is attributed to improved demand and a higher mix of new products, while retail sales faced challenges due to lower traffic [3][4][5]. Margin Analysis - EBITDA margins improved to 7.5% in Q2, up 135 basis points from 6.15% in Q2 of the previous year, and significantly higher than 1.6% in Q1 2024 [6]. - Lower Average Unit Retail (AUR) prices due to increased promotions negatively impacted product margins, but sourcing initiatives and operational efficiencies from a new fulfillment center helped offset some of these pressures [6][7]. - Future margin growth is anticipated due to cost savings from lease terminations and improved operational efficiencies [6][7]. Valuation Insights - Duluth Trading has a market cap of approximately $133 million, with an enterprise value of around $160 million, supported by a solid cash position and manageable debt levels [7]. - Projections suggest potential sales of $685 million and EBITDA of $60 million by FY26, indicating a favorable growth trajectory [7]. - A valuation multiple of 14x free cash flow could lead to a market cap of $420 million by FY26, suggesting significant upside potential from current trading levels [7]. Future Outlook - The company plans to open two new stores in the second half of the year, which could contribute an additional $10 million in consolidated sales [5][7]. - Despite challenges in the retail environment, Duluth Trading is expected to continue improving its earnings power and free cash flow generation, which should enhance market valuation over time [8].
Duluth Holdings' Q2 2024 Enticed Market, But Operations Are Not Improving - Still A Hold
Seeking Alpha· 2024-09-01 07:33
Joe Hendrickson Duluth Holdings' (NASDAQ:DLTH) 2Q24 was not very surprising from a results perspective, but the markets liked the quarter, with the stock reaping almost 30% in the few days after the release. This seems normal for a company with significant operational leverage, in which small tweaks to sales and margins make a big difference in profitability. From an operational standpoint, I still do not see improvement in what, I believe, are Duluth's key operational problems: assortment and inventory man ...
Duluth (DLTH) - 2025 Q2 - Quarterly Report
2024-08-30 18:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 28, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-37641 __________________________________ ...
Duluth (DLTH) - 2024 Q2 - Earnings Call Transcript
2024-08-29 22:26
Duluth Holdings Inc. (NASDAQ:DLTH) Q2 2024 Earnings Conference Call August 29, 2024 9:30 AM ET Company Participants Nitza McKee - Investor Relations Sam Sato - President & Chief Executive Officer Heena Agrawal - Senior Vice President & Chief Financial Officer Conference Call Participants Janine Stichter - BTIG Jonathan Komp - Baird Dylan Carden - William Blair Operator Good morning, and welcome to the Duluth Holdings Inc. Second Quarter 2024 Conference Call. [Operator Instructions]. Please note this event i ...
Duluth (DLTH) - 2025 Q2 - Quarterly Results
2024-08-29 12:28
Exhibit 99.1 Duluth Holdings Inc. Announces Second Quarter 2024 Financial Results Year-over-year net sales growth of 1.8% to $141.6 million Benefiting from our product and sourcing initiatives, gross margin expands 90 basis points to 52.3% Strong financial position with no debt and approximately $210 million of liquidity Reaf irmed Fiscal 2024 outlook excluding restructuring expense and sales tax expense accrual MOUNT HOREB, WI – August 29, 2024 – Duluth Holdings Inc. (dba, Duluth Trading Company) ("Duluth ...
Duluth Holdings (DLTH) Reports Q2 Loss, Tops Revenue Estimates
ZACKS· 2024-08-29 12:05
Duluth Holdings (DLTH) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 83.33%. A quarter ago, it was expected that this clothing and tools supplier would post a loss of $0.14 per share when it actually produced a loss of $0.24, delivering a surprise of -71.43%. Over the last four quarters, t ...
Duluth Holdings Inc. Announces Second Quarter 2024 Financial Results
GlobeNewswire News Room· 2024-08-29 09:45
Year-over-year net sales growth of 1.8% to $141.6 million Benefiting from our product and sourcing initiatives, gross margin expands 90 basis points to 52.3% Strong financial position with no debt and approximately $210 million of liquidity Reaffirmed Fiscal 2024 outlook excluding restructuring expense and sales tax expense accrual MOUNT HOREB, Wis., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) ("Duluth Trading" or the "Company") (NASDAQ: DLTH), a lifestyle brand of m ...
Duluth Holdings Inc. to Report Second Quarter 2024 Financial Results on August 29
GlobeNewswire News Room· 2024-08-15 09:45
MOUNT HOREB, Wis., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) ("Duluth Trading") (NASDAQ: DLTH), a lifestyle brand of men's and women's casual wear, workwear and accessories, today announced that it will report second quarter 2024 financial results before market on Thursday, August 29, 2024. A conference call and audio webcast with analysts and investors will be held on Thursday, August 29, 2024 at 9:30 am Eastern Time, to discuss the results and answer questions. L ...
Duluth (DLTH) - 2025 Q1 - Quarterly Report
2024-05-31 16:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-Q _________________________________________ þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 28, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-37641 _________________________________ ...
Duluth (DLTH) - 2024 Q1 - Earnings Call Transcript
2024-05-30 18:49
Duluth Holdings Inc. (NASDAQ:DLTH) Q1 2024 Earnings Conference Call May 30, 2024 9:30 AM ET Company Participants Nitza McKee - Senior Associate Sam Sato - President & Chief Executive Officer Heena Agrawal - Senior Vice President & Chief Financial Officer Conference Call Participants Operator Good morning, everyone and welcome to the Duluth Holdings Incorporated First Quarter 2024 Conference Call. [Operator Instructions] Also note today's event is being recorded. At this time, I'd like to turn the floor over ...