Duluth Holdings Q2 FY20 sales jump 12.6% to $137 mn

Duluth Holdings, a lifestyle brand of men’s and women’s casual wear, workwear and accessories, posted 12.6 per cent sales growth to $137.4 million in its second quarter (Q2) for fiscal 2020 ended on August 2, compared to the sales of $122.0 million in the same quarter previous year. Net income for the quarter rose to $5.9 million (Q2 FY19: $1.9 million).

 

Duluth Holdings, a lifestyle brand of men's and women's casual wear, workwear and accessories, posted 12.6 per cent sales growth to $137.4 million in its second quarter (Q2) for fiscal 2020 ended on August 2, compared to the sales of $122.0 million in the same quarter previous year. Net income for the quarter rose to $5.9 million (Q2 FY19: $1.9 million).#

“Our solid second quarter results can be attributed to several factors. First, our spring and summer product assortments had widespread appeal to both men and women whether staying at home or venturing outdoors. Second, the technology and infrastructure investments that we made well before the pandemic were critical in meeting the sudden shift in consumer shopping trends,” Steve Schlecht, executive chairman and CEO of Duluth Trading, said in a press release. 

 

Duluth Holdings, a lifestyle brand of men's and women's casual wear, workwear and accessories, posted 12.6 per cent sales growth to $137.4 million in its second quarter (Q2) for fiscal 2020 ended on August 2, compared to the sales of $122.0 million in the same quarter previous year. Net income for the quarter rose to $5.9 million (Q2 FY19: $1.9 million).#

“Third, our shift to more digital marketing versus traditional media spend generated a 130% lift in new buyer growth in our direct channel,” Schlecht said.

 

Duluth Holdings, a lifestyle brand of men's and women's casual wear, workwear and accessories, posted 12.6 per cent sales growth to $137.4 million in its second quarter (Q2) for fiscal 2020 ended on August 2, compared to the sales of $122.0 million in the same quarter previous year. Net income for the quarter rose to $5.9 million (Q2 FY19: $1.9 million).#

Gross profit for the reported quarter was $72.4 million ($64.8 million). Selling, general and administrative expenses were $62.6 million ($61.0 million). Company’s operating income during Q2 FY20 increased to $9.7 million ($3.7 million).

 

Duluth Holdings, a lifestyle brand of men's and women's casual wear, workwear and accessories, posted 12.6 per cent sales growth to $137.4 million in its second quarter (Q2) for fiscal 2020 ended on August 2, compared to the sales of $122.0 million in the same quarter previous year. Net income for the quarter rose to $5.9 million (Q2 FY19: $1.9 million).#

Sales in non-store markets jumped 58.6 per cent primarily due to an increase in digital advertising to promote Mother’s Day, Father’s Day and online warehouse clearance events. While sales in store markets decreased 1.8 per cent, due to temporary store closures, partially mitigated by 79.8 per cent growth in direct-to-consumer sales in store markets.

 

Duluth Holdings, a lifestyle brand of men's and women's casual wear, workwear and accessories, posted 12.6 per cent sales growth to $137.4 million in its second quarter (Q2) for fiscal 2020 ended on August 2, compared to the sales of $122.0 million in the same quarter previous year. Net income for the quarter rose to $5.9 million (Q2 FY19: $1.9 million).#

Men’s business sales rose 15.3 per cent driven by growth in men’s underwear, Alaskan Hardgear and apparel newness. Women’s business sales were up 9.6 per cent with rise in summer solved collection, comfortable basics and plus line apparel.

 

"As we move into the fall and holiday seasons, we are doing everything in our control to keep the momentum going.  I am confident that our team has the talent, agility and conviction to meet the challenges ahead,” Schlecht said.