Duluth Holdings Reports Wider Q1 Loss, Shares Plunge

Duluth Holdings reported a fiscal first-quarter net loss of $15.3 million, or $0.45 per share, which was wider than expected and missed analyst estimates. Adjusted losses were $0.32 per share, also missing expectations, while revenues declined 12% year-over-year to $102.7 million as both store and direct-to-consumer sales dropped due to weak customer traffic. The company's gross profit margin contracted, free cash flow worsened significantly, and adjusted EBITDA turned negative. Shares plunged over 13% following the earnings release and have declined sharply over the past year, reflecting investor concerns about persistent operational challenges. Despite these setbacks, Duluth Holdings reaffirmed its full-year 2025 sales guidance of $570–$595 million. CEO Stephanie Pugliese, who recently returned to lead the company, announced initiatives to simplify operations, strengthen the brand, and conduct a comprehensive business review.