DLTH · Duluth Holdings Inc.

Summary

Duluth Holdings Inc. reported fourth quarter fiscal 2025 net sales of $215.9 million, down 10.5% year-over-year, with gross margin expansion to 53.0% and net income of $7.8 million, and full-year fiscal 2025 net loss of $16.2 million improved from $43.6 million alongside positive free cash flow of $16.6 million. The company provided fiscal 2026 guidance of net sales $540-560 million and adjusted EBITDA $26-30 million.

Key takeaways

• Q4 FY2025 net sales $215.9 million, down 10.5% from $241.3 million YoY
• Q4 FY2025 gross margin 53.0%, up 890 basis points from 44.1% YoY
• Q4 FY2025 net income $7.8 million or diluted EPS $0.22, versus net loss $5.6 million or -$0.17 YoY
• FY2025 net loss $16.2 million or diluted EPS -$0.47, improved from net loss $43.6 million or -$1.31 YoY
• FY2025 inventory down 21.1% to $131.3 million
• FY2026 guidance: net sales $540-560 million, adjusted EBITDA $26-30 million