US workwear firm Duluth Holdings' Q1 FY21 sales grow 21% to $133 mn

14 Jun '21
2 min read
Pic: Duluth Trading
Pic: Duluth Trading

Duluth Holdings, an omnichannel lifestyle brand of men’s and women’s casual wear and workwear, reported 21.4 per cent sales growth to $133.4 million in its first quarter (Q1) of FY21 ended on May 2, 2021, compared to $109.9 million in the corresponding quarter of previous fiscal. The company’s net income was $0.5 million (Q1 FY20: loss $15.1 million).
“Direct channel sales increased almost 2 per cent against tough direct channel comps in the first quarter last year. Retail store sales were up 93 per cent, a significant increase from the comparable period when all stores were closed for roughly half of the quarter,” Steve Schlecht, non-executive chairman of Duluth Trading, said in a press release.
Gross profit for Q1 FY21 was $66.5 million ($52.3 million), while selling, general and administrative expenses were $64.6 million ($71.3 million). The company’s operating income was to $1.9 million (loss: $18.9 million).
“Our customers are responding favourably to our spring/summer collections as they head outdoors, and our strong omnichannel will continue to serve our customers well, regardless of how they want to shop,” Schlecht added. “Having completed my last quarter as executive chairman and CEO on May 2, I am pleased to introduce Sam Sato, our new president and chief executive officer, who is a 30-year retail industry veteran with a proven track record in omnichannel growth and expertise across retail operations and product categories.”

Fibre2Fashion News Desk (JL)

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