Shares of Duluth Holdings Inc. (NASDAQ:DLTH) got slammed Friday a day after it reported fiscal fourth-quarter earnings that failed to meet Wall Street’s expectations.
The stock was down nearly 25% to $17.71 in afternoon trading.
The clothing and tools supplier said it had net income of $21 million, or $0.64 a share, for the quarter that ended February 3. The Street had expected an EPS of $0.75.
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The Mount Horeb, Wisconsin-based company also failed to meet revenue expectations, despite a 15% increase in net sales compared to the prior quarter year. Duluth Holdings posted $251 million in revenue for the quarter when the street forecasted $258 million.
CEO Stephanie Pugliese said in statement that the company “faced some challenges” in fiscal 4Q but didn’t elaborate.
On the bright side, Duluth Holdings said operating income was higher, up 2.6% to $30 million from the same quarter last year.
For full-year, the company also reported a profit of $23 million, or $0.72 per share, and revenue of $568 million. For the full fiscal year of 2019, Duluth Holdings predicts an EPS between $0.74 to $0.80 and revenue in the range of $645 million to $655 million.
Duluth as of November 2018 operated 46 retail stores.
-- Written by Patrick Graham --