LONDON, UK / ACCESSWIRE / January 09, 2018 / Active-Investors.com has just released a free earnings report on Duluth Holdings Inc. (NASDAQ: DLTH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DLTH. Duluth reported its third quarter fiscal 2017 on December 07, 2017. The Company recorded its 31st consecutive quarter of increased y-o-y net sales and reiterated its outlook for fiscal 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Duluth Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For fiscal third quarter ended October 29, 2017, Duluth's net sales surged 25.0% to $83.7 million compared to $67.0 million in the same period a year ago. Net sales increase was driven by a 3.6% growth in direct net sales and a 100.7% growth in retail net sales. The increase in retail net sales was primarily attributable to an addition of 12 stores in the reported quarter compared to the same period a year ago. The Company's reported numbers fell short of analysts' estimates of $84.3 million.

During Q3 2017, Duluth's gross profit increased 22.4% to $47.4 million, or 56.6% of net sales, compared to $38.7 million, or 57.8% of net sales, in Q3 2016. The 120-basis point decrease in gross margin was primarily attributable to a continuing decline in shipping revenues coupled with an increase in freight cost from the Company's distribution center to retail stores.

For Q3 2017, Duluth's selling, general, and administrative (SG&A) expenses increased 26.7% to $48.0 million compared to $37.9 million in Q3 2016. As a percentage of net sales, SG&A expenses increased 80 basis points to 57.4% compared to 56.6% in the corresponding prior year's same period. As a percentage of net sales, the Company's advertising and marketing costs decreased 160 basis points to 20.2% compared to 21.8% in Q3 2016, primarily attributable to a decline in digital advertising and catalog costs as percentage of net sales.

Duluth reported net loss of $0.8 million, or $0.03 per diluted share, for Q3 2017 compared to net income of $0.5 million, or $0.01 per diluted share in Q3 2016. The Company's reported numbers fell short of Wall Street's expectations of breakeven on a per share basis.

Duluth's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 24.9% to $1.9 million on a y-o-y basis compared to $2.5 million in Q3 2016.

Balance Sheet and Liquidity

Duluth ended the quarter with a cash balance of approximately $1.0 million, with net working capital of $86.6 million, and $9.9 million available on its $60.0 million revolving line of credit. Effective November 01, 2017, the Company's borrowing availability under its revolving line of credit increased to $80.0 million through December 31, 2017. As on January 01, 2018, the Company's borrowing availability under its revolving line of credit decreased to $60.0 million through July 31, 2019.

Store Update

During Q3 2017, Duluth opened three retail stores in St. Charles, Montana; Thornton, Colorado; and Avon, Ohio.

Fiscal 2017 Outlook

Duluth reaffirmed its fiscal 2017 outlook. The Company is forecasting net sales in the range of $455.0 million to $465.0 million; adjusted EBITDA in the band of $47.0 million to $49.5 million; and EPS in the range of $0.66 to $0.71 per diluted share. Duluth is projecting fiscal 2017 capital expenditures net of proceeds from finance lease obligations of $42.0 million to $44.0 million.

Stock Performance Snapshot

January 08, 2018 - At Monday's closing bell, Duluth's stock was slightly up 0.66%, ending the trading session at $18.25.

Volume traded for the day: 135.13 thousand shares.

Stock performance in the past six-month period ? up 3.11%; and year-to-date ? up 2.24%

After yesterday's close, Duluth's market cap was at $590.75 million.

Price to Earnings (P/E) ratio was at 33.00.

The stock is part of the Services sector, categorized under the Apparel Stores industry. This sector was up 0.2% at the end of the session.

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