Duluth Holdings, Inc. reported its sales results for the nine-week period through January 1, 2023 and said it expects to achieve the low end of the fourth quarter sales guidance.
Highlights for the Nine-Week Holiday Period Ended January 1, 2023 Compared to the Same Prior Year Period
- Net sales of $198.2 million compared to $224.3 million
- Direct net sales of $127.0 million compared to $145.3 million
- Retail net sales of $71.2 million compared to $79.0 million
President and CEO, Sam Sato commented, “We are pleased with our AKHG brand sales growth of high single digits for the 9-week holiday selling period and expect to achieve the low end of our fourth quarter sales guidance. For the year, we anticipate our Women’s business to outperform relative to the total company sales results giving us confidence the investments we have made in product innovation and great brand marketing have cemented Duluth Trading Company as a co-gender lifestyle brand.”
Sato concluded, “In what evolved into a softer consumer backdrop during the holiday season, we managed the business well. We expect to end the fiscal year in a balanced and strong inventory position with levels up compared to last year’s depressed positioning as a result of supply chain constraints, and comparable to levels in 2020 and 2019.”
