Earnings Summary: Duluth Holdings Q3 loss narrows; sales down 10%

Duluth Holdings Inc. (NASDAQ: DLTH), a lifestyle brand of men’s and women’s workwear and casual wear, on Tuesday reported a narrower loss for the third quarter of fiscal 2025. Sales declined by around 10%.

• Third-quarter net sales dropped to $114.9 million from $127.1 million in the year-ago quarter
• Net loss narrowed to $10.1 million in the third quarter from $28.2 million in the prior year’s third quarter
• On a per-share basis, Q3 loss was $0.29, compared to $0.84 per share in the same quarter a year earlier
• Adjusted loss per share for the quarter was $0.23, vs. $0.44 in the corresponding quarter of FY24
• Adjusted EBITDA for the quarter was a loss of $0.74 million, compared to a loss of $6.2 million last year
• The management affirmed the higher end of its FY25 adjusted EBITDA guidance – the new range is from $23 million to $25 million, vs. the previous forecast of $20-$25 million
• It updated full-year sales guidance to a range of $555 million to $565 million from the earlier outlook of $570-$595 million
• The company also reaffirmed its capital expenditures forecast for fiscal 2025 at $17 million