Why Duluth Stock Is Diving Today
Portfolio Pulse from Nabaparna Bhattacharya
Duluth Holdings Inc. (NASDAQ:DLTH) reported a Q2 FY23 sales decline of 1.7% YoY to $139.10 million, beating the consensus of $138.41 million. However, the EPS loss of $(0.06) missed the analyst consensus of breakeven $(0.00). Retail store net sales decreased by 7% due to slower store traffic. The company's CFO, Dave Loretta, will step down effective September 15. Duluth reaffirmed its FY23 revenue outlook of $645 million-$660 million. DLTH shares are trading lower by 13% at $6.39.
August 31, 2023 | 3:03 pm
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NEGATIVE IMPACT
Duluth Holdings reported a Q2 FY23 sales decline and an EPS loss, leading to a 13% drop in stock price. The CFO's departure may also impact investor confidence.
Duluth's Q2 FY23 sales decline and EPS loss, coupled with the departure of the CFO, are likely to negatively impact the stock price in the short term. The reaffirmed FY23 revenue outlook might mitigate some of the negative impact, but overall, the news is likely to be seen as negative by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100