Duluth Holdings Inc. (DLTH) Tops Q2 EPS by 1c, Beats on Revenues; FY Revenue Mid-Point Outlook Below Consensus, Offers FY EPS Guidance

Duluth Holdings Inc. (NASDAQ: DLTH) reported Q2 EPS of $0.11, $0.01 better than the analyst estimate of $0.10. Revenue for the quarter came in at $86.2 million versus the consensus estimate of $82.51 million.

Fiscal 2017 Outlook

The Company reaffirmed its fiscal 2017 outlook as follows:

• Net sales in the range of $455.0 million to $465.0 million
• Adjusted EBITDA1 in the range of $47.0 million to $49.5 million
• EPS in the range of $0.66 to $0.71 per diluted share

The Company updated its fiscal 2017 retail store openings and capital expenditures:

• The Company expects to open a total of 15 stores, adding approximately 173,000 selling square feet
• Capital expenditures of $38.0 to $42.0 million2

GUIDANCE:

Duluth Holdings Inc. sees FY2017 EPS of $0.66-$0.71, versus the consensus of $0.69. Duluth Holdings Inc. sees FY2017 revenue of $455-465 million, versus the consensus of $463.74 million.

Highlights for the Second Quarter Ended July 30, 2017

• Net sales increased 31.0% to $86.2 million compared to $65.8 million in the prior-year second quarter
• Gross margin decreased 240 basis points (bps) to 56.7% compared to 59.1% in the prior-year second quarter
• Net income increased 18.4% to $4.3 million, or $0.13 per diluted share, compared to $3.6 million, or $0.11 per diluted share in the prior-year second quarter
• Adjusted EBITDA1 increased 26.7% to $9.5 million compared to $7.5 million in the prior-year second quarter
• During the second quarter, the Company opened two retail stores, one in West Chester, OH, and one in Pittsburgh, PA, and an outlet store in Redwing, MN
• 30th consecutive quarter of increased net sales year-over-year

For earnings history and earnings-related data on Duluth Holdings Inc. (DLTH) click here.

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