Workwear And Accessories Company Duluth Beats on Q4 Top Line, Women's Apparel Shines
Portfolio Pulse from Lekha Gupta
Duluth Holdings (NASDAQ:DLTH) reported a Q4 FY23 sales increase of 1.6% Y/Y to $245.6 million, surpassing the consensus of $242.5 million. The growth was driven by higher conversion rates and mobile penetration, with women's apparel net sales up 12.4% Y/Y. However, gross margin fell to 48.2% from 51.2%, and EPS of $0.21 missed the consensus of $0.27. The company has no outstanding bank debt and expects FY24 net sales of $640 million-$660 million and EPS of $(0.22)-$(0.07). DLTH shares rose 0.34% to $4.415.
March 07, 2024 | 6:12 pm
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NEUTRAL IMPACT
Duluth Holdings reported a Q4 FY23 sales increase and surpassed consensus, but EPS missed estimates. The company has a positive outlook for FY24 with expected net sales of $640 million-$660 million.
The mixed Q4 results with a sales beat but an EPS miss may lead to a neutral short-term impact on DLTH's stock price. The positive sales outlook for FY24 could support investor confidence, but the anticipated negative EPS may temper optimism.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100