Duluth Holdings: Gains 33% on surprise Q3 profit, revenue beat
05/12/2019 16:28
** Clothing retailer's shares DLTH.O rise 33% to near
3-month high of $10.40 after posting better-than-expected Q3
results - set for best day
** DLTH posts profit of 1 cent per share, while analysts
were expecting a loss of 5 cents per share, after missing
estimates for four quarters straight
** Net sales jump 12% to $119.8 mln, beating Street
estimates of $114.98 mln, helped by strength across segments,
including men's and women's apparel
** CEO Stephen Schlecht says DLTH entered Q4 better prepared
than any time in the last two years
** DLTH reaffirms FY19 forecast; with profit outlook largely
above estimates yet mid-point of net sales forecast slightly
below expectations
** DLTH down about 59% this year after jumping 41% last year
(Reporting by Praveen Paramasivam in Bengaluru)
((Praveen.Paramasivam@ThomsonReuters.com))