Duluth Holdings Inc. Announces Second Quarter 2026 Financial Results
Duluth Trading reported fiscal Q2 2026 net income of $18.4 million, up from $1.3 million a year earlier, with reported and adjusted diluted EPS of $0.50 and adjusted EBITDA of $27.0 million versus $12.0 million in the prior-year quarter. Headline results were boosted by $16.3 million of one-time tariff refunds; excluding them, gross margin still expanded 490 basis points to 59.6% on reduced promotional activity and direct-to-factory sourcing savings, though ex-refund adjusted EPS was only about $0.06. Net sales fell 7.8% to $121.4 million, with direct-to-consumer down 11.5% to $70.1 million on lower web traffic and conversion and retail stores down 2.4% to $51.3 million on softer traffic.
Key figures
- Eps
- 0.5
- Revenue
- 121400000
- Guidance
- FY26 net sales affirmed at $540-$560 million; adjusted EBITDA raised to $38-$42 million (from $28-$32 million), including tariff refund impact; capex ~$12 million
- Revenue Yoy
- -7.8%
- Cash
- $26.8 million
- Sg and a
- $69.5 million, +1.1%
- Net income
- $18.4 million
- Abl facility
- $70.0 million, zero drawn
- Gross margin
- 72.8%
- Dtc net sales
- $70.1 million, -11.5%
- Net liquidity
- $96.1 million
- Tariff refunds
- $16.3 million
- Adjusted ebitda
- $27.0 million
- Inventory reduction
- 15.5% / $22.9 million
- Prior year net income
- $1.3 million
- Retail store net sales
- $51.3 million, -2.4%
- Gross margin ex refunds
- 59.6%, +490 bps YoY
- Eps tariff refund impact
- $0.44
- Prior year adjusted ebitda
- $12.0 million
AI analysis
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