Duluth Q1 Earnings Top Estimates, Reaffirms FY22 Outlook - Duluth Holdings (NASDAQ:DLTH)

Duluth Holdings Inc DLTH reported a first-quarter FY22 sales decline of 7.9% year on year, to $122.90 million, beating the consensus of $116.10 million.
Retail store net sales improved by 0.4% to $45.2 million, while Direct-to-consumer net sales decreased by 12.1% to $77.7 million.
EPS loss of $(0.04) beat the analyst consensus of $(0.18).
The gross profit margin expanded 470 basis points Y/Y to 54.6%, and the gross profit increased 0.8% to $67.1 million.
The operating loss for the quarter was $(0.93) million versus an income of $1.8 million last year.
Adjusted EBITDA decreased 17.5% to $7.8 million.
The company held $40.4 million in cash and equivalents as of May 1, 2022.
Outlook, reaffirmed: Duluth Holdings sees FY22 EPS of $0.93 - $1.02 versus the consensus of $0.99.
The company expects FY22 sales of $730 million - $755 million, against the Street view of $740.29 million.
Price Action: DLTH shares are trading higher by 5.85% at $13.40 in premarket on the last check Thursday.