Duluth Holdings, a US-based lifestyle brand of mens and womens casualwear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company’s store market sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to Q2 FY20.
Duluth Holdings, a US-based lifestyle brand of men's and women's casual wear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company's store markets sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to 2020.#
“Our solid performance this quarter reflects the strong relationships we have with our customers and the underlying strength of our business. Our initiatives continue to deliver the planned results, and we’re excited to build upon them,” Sam Sato, chief executive officer of Duluth Trading, said in a press release.
Duluth Holdings, a US-based lifestyle brand of men's and women's casual wear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company's store markets sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to 2020.#
The American lifestyle brand’s direct-to-consumer sales during the three month period ended on August 1, 2021, decreased 15.2 per cent to $85.2 million. Furthermore, sales in non-store markets decreased 12.7 per cent to $40.7 million, compared to heavy volume, extended free shipping offers, due to higher promotions and digital prospecting during last year.
Duluth Holdings, a US-based lifestyle brand of men's and women's casual wear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company's store markets sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to 2020.#
Moreover, the company’s mens apparel sales surged 6.5 per cent driven by growth in knits and woven shirts, while women’s apparel sales climbed 10.0 per cent driven by strength in woven shirts, bottoms, and footwear.
Duluth Holdings, a US-based lifestyle brand of men's and women's casual wear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company's store markets sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to 2020.#
Gross profit during Q2 FY21 rose to $81.4 million (Q2 FY20: $72.5 million). Operating income expanded to $13.0 million ($9.8 million), while net income rose to $9.0 million ($5.9 million). Duluth’s adjusted EBITDA increased 29.0 per cent to $21.6 million ($16.8 million).
Duluth Holdings, a US-based lifestyle brand of men's and women's casual wear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company's store markets sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to 2020.#
“Following our deep dive analysis, we formulated our ‘Big Dam Blueprint’, which we believe will unlock our full potential for long-term, sustainable growth that serves all of our stakeholders,” Sato said. “We believe our Big Dam Blueprint is sound and necessary to continue to strengthen our relationship with the customer, lead as a competitive force, and meet our long-term growth objectives by the end of 2025, which are to achieve at least $1 billion in sales; high-single to low-double digit operating margins; generate positive free cash flow; and maintain balance sheet flexibility.”
Duluth Holdings, a US-based lifestyle brand of men's and women's casual wear and workwear, has reported 8.6 per cent sales increase to $149.1 million in the second quarter (Q2) of FY21 against same period of 2020. The company's store markets sales accelerated 19.8 per cent to $107.1 million driven by a continued ramp up in store traffic as compared to 2020.#
In its outlook for fiscal 2021, the company said it expects sales to be in the range of $700 million to $715 million.
Fibre2Fashion News Desk (JL)
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