Quarterly ResultJun 8, 2026, 05:46 AM
Duluth Holdings Q1 Net Loss Improves $5.2M; Adjusted EBITDA Up $6.4M
AI Summary
Duluth Holdings Inc. announced its fiscal First Quarter 2026 financial results, reporting a net loss of $10.0 million, an improvement of $5.2 million from the prior year. Adjusted EBITDA rose by $6.4 million to $2.6 million, and gross margin expanded significantly by 540 basis points to 57.4%. The company also reported a strong balance sheet with approximately $100 million of net liquidity and a 24.8% reduction in inventory. Despite a 4.0% decrease in net sales to $98.6 million, driven by direct-to-consumer declines partially offset by retail store growth, Duluth Trading raised its fiscal 2026 Adjusted EBITDA guidance to $28 million to $32 million.
Key Highlights
- Net loss improved by $5.2 million to $10.0 million compared to prior year.
- Adjusted EBITDA increased by $6.4 million to $2.6 million.
- Gross margin expanded by 540 basis points to 57.4% of net sales.
- Inventory decreased by $43.7 million or 24.8% year-over-year.
- Net sales decreased by 4.0% to $98.6 million.
- Direct-to-consumer net sales decreased by 8.7% to $57.1 million.
- Retail store net sales increased by 3.3% to $41.5 million.
- Fiscal 2026 Adjusted EBITDA guidance raised to $28 million to $32 million.
Price Impact
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