Duluth Holdings rises on strong annual sales, profit forecasts
09/03/2023 15:50
** Shares of apparel retailer Duluth Holdings Inc DLTH.O
rise as much as 18.5% to over three-month high of $7.32
** Co forecasts annual revenue and profit above Wall Street
estimates, boosted by rising demand for women's apparel, as well
as lower transportation and packaging costs
** Sees full-year profit per share of $0.02 to $0.08, while
analysts' expect a loss per share of $0.01, per Refinitiv data
** Expects FY2023 sales between $645 mln and $660 mln,
compared to analysts' estimates of $644.6 mln
** However, co misses Q4 revenue estimates hurt by slower
store traffic, despite deeper discounts
** DLTH last up 13.2% at $7; however, stock still down over
20% since it reported a surprise quarterly loss in
early-December
** Stock down over 47% in the past 12 months
(Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))