Duluth Holdings Q2 Sales Beats Estimates; Raises FY21 Guidance

Duluth Holdings Inc DLTH reported second-quarter FY21 sales growth of 8.6% year-on-year, to $149.13 million, beating the analyst consensus of $142.83 million.
Gross profit rose 12.4% Y/Y to $81.4 million, and the margin improved 180 basis points Y/Y to 54.6%.
The operating margin was 8.8%, and operating income for the quarter rose 33.6% to $13.1 million.
The company held $18.9 million in cash and equivalents as of August 1, 2021.
Adjusted EBITDA of $21.6 million increased 29% Y/Y.
EPS of $0.27 increased 50% Y/Y.
Outlook: Duluth raised the FY21 sales outlook to $700 million - $715 million (prior $695 million - $710 million) versus the consensus of $708.37 million.
The company raised the FY21 EPS forecast to $0.71 - $0.76 (prior $0.66 - $0.72) versus the consensus of $0.71.
Price Action: DLTH shares are trading lower by 2.40% at $15.48 on the last check Thursday.

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