NASDAQ$DLTH
Duluth Holdings Inc - Cl B · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Duluth Holdings reported a narrower net loss and higher adjusted EBITDA for the first quarter ended May 3, 2026.
Net sales declined 4.0% to $98.6 million while gross margin expanded 540 basis points to 57.4%. Net loss improved to $10.0 million from $15.3 million and adjusted EBITDA rose to $2.6 million. Inventory fell 24.8% and the company ended the quarter with approximately $100 million of net liquidity.
- Net sales of $98.6 million declined 4.0% year-over-year, with direct-to-consumer down 8.7% and retail up 3.3%.
- Gross margin reached 57.4%, up 540 basis points, driven by higher average unit retail prices and sourcing improvements.
- Adjusted EBITDA increased $6.4 million to $2.6 million; adjusted EPS was ($0.20).
- Inventory decreased 24.8% to $132.4 million and net liquidity remained strong at $99.5 million.
Headline financials
Revenue & EPS history
Duluth Trading Co. · Revenue · Quarterly
$98.6M
Revenue by segment
Duluth Trading Co. · $98.6M total across 2 segments · Q1 2026
- Direct-to-consumer$57.1M—57.9%
- Retail stores$41.5M—42.1%
Forward guidance
Fiscal 2026 net sales guidance affirmed at $540-560 million; Adjusted EBITDA guidance raised to $28-32 million; capital expenditures affirmed at approximately $12 million.
Tailwinds
- Raising full-year Adjusted EBITDA guidance
- Affirming net sales range despite Q1 softness
- Continued focus on core products and inventory discipline
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2026
+1.6%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-2.0%
Avg return
30 days after
46%
21 / 46 earnings
Positive
+51.3%
Q2 2025
Best reaction
-29.3%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +29.5% | +41.0% | — | |
| Q4 2025 | -0.5% | -4.2% | — | |
| Q3 2025 | -29.3% | -29.4% | -25.6% | |
| Q2 2025 | +51.3% | +40.3% | +70.3% | |
| Q1 2025 | +7.0% | +5.4% | +15.7% | |
| Q4 2024 | -10.6% | -26.1% | -36.0% | |
| Q3 2024 | -8.3% | -9.9% | -18.8% | |
| Q2 2024 | +25.7% | +21.7% | +18.3% | |
| Q1 2024 | -1.7% | -6.2% | -8.2% | |
| Q4 2023 | +0.5% | +4.8% | +10.9% | |
| Q3 2023 | +1.9% | -1.4% | +4.7% | |
| Q2 2023 | -14.7% | -12.2% | -18.2% | |
| Q1 2023 | +15.0% | +16.3% | +16.3% | |
| Q4 2022 | +8.9% | +11.2% | +1.3% | |
| Q3 2022 | -22.1% | -30.9% | -29.5% | |
| Q2 2022 | -10.8% | -12.3% | -20.6% | |
| Q1 2022 | -9.7% | -10.0% | -23.6% | |
| Q4 2021 | +0.5% | +1.6% | -4.5% | |
| Q3 2021 | +10.2% | +17.2% | +11.7% | |
| Q2 2021 | -3.3% | -5.4% | -12.5% | |
| Q1 2021 | -4.4% | +3.9% | +13.4% | |
| Q4 2020 | -10.3% | -10.3% | -3.5% | |
| Q3 2020 | -15.5% | -16.9% | -24.7% | |
| Q2 2020 | +19.6% | +19.4% | +23.6% | |
| Q1 2020 | +33.8% | +73.0% | +39.0% | |
| Q4 2019 | +10.8% | +9.9% | -3.0% | |
| Q3 2019 | +21.3% | +30.0% | +23.8% | |
| Q2 2019 | -9.8% | -13.3% | -17.3% | |
| Q1 2019 | -11.3% | -7.4% | -9.5% | |
| Q4 2018 | -25.6% | -27.1% | -31.1% | |
| Q3 2018 | -21.6% | -19.3% | -19.8% | |
| Q2 2018 | +6.1% | +7.7% | -4.2% | |
| Q1 2018 | -5.9% | -5.4% | +29.1% | |
| Q4 2017 | -4.6% | -4.8% | +1.8% | |
| Q3 2017 | -16.2% | -19.2% | -6.0% | |
| Q2 2017 | +0.5% | -3.4% | +3.4% | |
| Q1 2017 | -18.8% | -19.5% | -15.0% | |
| Q4 2016 | +14.1% | +17.9% | +6.0% | |
| Q3 2016 | -15.9% | -18.8% | -23.7% | |
| Q2 2016 | -4.3% | -6.7% | -6.5% | |
| Q1 2016 | -4.2% | -7.3% | -7.2% | |
| Q1 2015 | +27.2% | — | — | |
| Q2 2015 | +27.2% | — | — | |
| Q4 2014 | +27.2% | — | — | |
| Q4 2015 | +25.0% | — | — | |
| Q3 2015 | -10.6% | — | — |
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