Duluth Holdings Q1 FY2O website sales grows 31.7%

Fashion

08 Jun `20

2 min read

Duluth Holdings, a lifestyle brand of men’s and women’s casual wear, workwear and accessories, posted 3.8 per cent sales decline to $109.9 million in first quarter (Q1) FY20 ended on May 3, 2020 compared to sales of $114.2 million in same period prior year. Company reported website and catalog net sales increased 31.7 per cent during the quarter.

Duluth Holdings, a lifestyle brand of men`s and women`s casual wear, workwear and accessories, posted 3.8 per cent sales decline to $109.9 million in first quarter (Q1) FY20 ended on May 3, 2020 compared to sales of $114.2 million in same period prior year. Company reported website and catalog net sales increased 31.7 per cent during the quarter.#

Gross profit for the quarter fell 14.1 per cent to $52.3 million (Q1 FY19: 60.9 million). Selling, general and administrative expenses increased 1.0 per cent to $71.3 million ($70.6 million). Company reported a net loss of $15.1 million ($7.6 million). Operating loss for the quarter were $18.9 million ($9.6 million).

Duluth Holdings, a lifestyle brand of men`s and women`s casual wear, workwear and accessories, posted 3.8 per cent sales decline to $109.9 million in first quarter (Q1) FY20 ended on May 3, 2020 compared to sales of $114.2 million in same period prior year. Company reported website and catalog net sales increased 31.7 per cent during the quarter.#

“As people sheltered in place, the surge we saw in online demand was significant and it drove direct product sales to increase 32 per cent year-over-year in Q1. While our stores were closed during the month of April, total company sales for April exceeded last year by over 5 per cent,” Steve Schlecht, executive chairman and chief executive officer 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 3.8 per cent sales decline to $109.9 million in first quarter (Q1) FY20 ended on May 3, 2020 compared to sales of $114.2 million in same period prior year. Company reported website and catalog net sales increased 31.7 per cent during the quarter.#

Company reported that the decrease in the sales was attributed to a 51.8 per cent decrease in retail net sales due to the temporary closure of all stores due to the Covid-19 pandemic beginning on March 20, 2020 through May 3, 2020. However, increase in the website and catalog net sales was driven by a shift of existing customers to online, as well as new buyer growth particularly within Duluth’s women’s products.

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