Duluth Holdings Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results
MOUNT HOREB, Wis., March 07, 2024 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading” or the “Company”) (NASDAQ: DLTH), a lifestyle brand of men’s and women’s workwear, casual wear, outdoor apparel and accessories, today announced its financial results for the fiscal fourth quarter and fiscal year ended January 28, 2024.
- Fourth quarter Net Sales increased 1.6% year-over-year to $245.6 million; diluted EPS of $0.21
MOUNT HOREB, Wis., March 07, 2024 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading” or the “Company”) (NASDAQ: DLTH), a lifestyle brand of men’s and women’s workwear, casual wear, outdoor apparel and accessories, today announced its financial results for the fiscal fourth quarter and fiscal year ended January 28, 2024. - President and CEO Sam Sato commented, “While fiscal 2023 was a challenging year as consumers remained selective in their discretionary spend, our fourth quarter was highlighted by growth in both the Duluth and AKHG brands driven by our women’s business which registered year-over-year growth of 12%.
- Direct-to-consumer net sales increased by 8.9% to $172.2 million compared to the fourth quarter last year driven by higher conversion rates and greater penetration of mobile.
- The Company ended the quarter with a cash balance of approximately $32.2 million, net working capital of $78.5 million and no outstanding Duluth Trading bank debt.