Duluth Holdings: Rises as apparel retailer sees sales rebound
03/09/2020 17:26
** Apparel retailer's shares DLTH.O rise 3.9% to their
nine-month high of $10.88, set to extend their five-day winning
run
** DLTH's net sales increase 12.6% to $137.4 mln in Q2,
helped its by investments in digital marketing and a 67%
increase in DTC sales that include its online business
** DLTH posted a ~4% decline in net sales in Q1 urn:newsml:reuters.com:*:nGNX6Xbr3Q
** Duluth benefited in a tough retail environment via its
legacy direct channel - William Blair analyst Dylan Carden
** Total new buyer growth increased 54.6% compared to the
same period a year ago - DLTH urn:newsml:reuters.com:*:nGNX2d66mT
** "Spring and summer product assortments had widespread
appeal to both men and women whether staying at home or
venturing outdoors" - CEO Steve Schlecht
** Including session's move, shares up ~3% so far this year
(Reporting by Praveen Paramasivam in Bengaluru)
((Praveen.Paramasivam@thomsonreuters.com))