Quarterly ResultJun 8, 2026, 07:11 AM
Duluth Holdings Q1 Net Loss Improves to $10M; Raises FY26 Adj. EBITDA Guidance
AI Summary
Duluth Holdings Inc. announced its first-quarter fiscal 2026 financial results, reporting an improved net loss of $10.0 million compared to $15.3 million in the prior year. Adjusted EBITDA saw a significant increase, rising to $2.6 million from a negative $3.8 million. While net sales declined by 4.0% to $98.6 million, the company achieved a substantial gross margin expansion of 540 basis points to 57.4% and reduced inventory by 24.8%. Duluth Trading raised its fiscal 2026 Adjusted EBITDA guidance to $28 million - $32 million while affirming its net sales outlook.
Key Highlights
- Duluth Holdings Inc. reported a net loss of $10.0 million for Q1 2026, an improvement from a $15.3 million net loss in the prior year.
- Adjusted EBITDA increased to $2.6 million from a negative $3.8 million in the prior year.
- Net sales decreased by 4.0% to $98.6 million, with direct-to-consumer sales down 8.7% and retail store sales up 3.3%.
- Gross margin expanded by 540 basis points to 57.4% due to reduced promotional activity and improved product costs.
- Inventory was down 24.8% year-over-year to $132.4 million.
- The company affirmed its fiscal 2026 net sales guidance of $540 million to $560 million.
- Fiscal 2026 Adjusted EBITDA guidance was raised to $28 million to $32 million.
Price Impact
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