Duluth Holdings (DLTH) AI Stock Analysis

• Market Cap: $125.12M
• Dividend Yield: N/A
• Average Volume (3M): 57.73K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.85
• Revenue Growth: -6.13%
• EPS Growth: -215.18%
• Country: US
• Employees: 807
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Retail
• EPS (TTM): 0.03
• Shares Outstanding: 33,327,580
• 10 Day Avg. Volume: 60,599
• 30 Day Avg. Volume: 57,729
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.53
• Price to Sales (P/S): 0.16
• P/FCF Ratio: -3.86
• Enterprise Value/Market Cap: 2.03
• Enterprise Value/Revenue: 0.42
• Enterprise Value/Gross Profit: 0.85
• Enterprise Value/Ebitda: -51.65
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.26
• Revenue Forecast (FY): $561.68M

• Rating: 52 Neutral
• Price Target: $3.50 ▲(3.24% Upside)

Duluth Holdings' overall stock score is driven by its challenging financial performance, with declining revenues and profitability. Despite positive technical indicators suggesting short-term bullish momentum, the valuation remains unattractive due to a negative P/E ratio. The company's strategic turnaround efforts are promising, but significant risks remain, particularly with upcoming tariff impacts.

Positive Factors

Gross Margin Improvement

Improved gross margins indicate better cost management and pricing power, which can enhance profitability and financial stability over the long term.

Inventory Management

Effective inventory management reduces holding costs and increases cash flow efficiency, supporting sustainable operations and profitability.

Successful Product Launches

Successful product launches can drive revenue growth and strengthen brand positioning, contributing to long-term market competitiveness.

Negative Factors

Sales Decline

Declining sales, especially in direct channels, can indicate weakening demand and pose challenges to revenue growth and market share retention.

Impact of Tariffs

Tariff impacts can increase costs and reduce margins, affecting competitiveness and financial performance in the medium to long term.

Increase in Clearance Inventory

High levels of clearance inventory suggest overstocking issues, which can lead to margin erosion and indicate demand forecasting challenges.

Duluth Holdings Business Overview & Revenue Model

Company Description

Duluth Holdings Inc. sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No Polo Shirt, No Yank, Wild Boar Mocs, and Buck Naked. The company markets its products through its Website, catalogs, and retail stores. As of January 30, 2022, it operated 62 retail stores and three outlet stores. The company was formerly known as GEMPLER'S, Inc. Duluth Holdings Inc. was founded in 1989 and is headquartered in Mount Horeb, Wisconsin.

How the Company Makes Money

Duluth Holdings generates revenue primarily through the sale of its apparel and accessories across multiple channels. The company's key revenue streams include direct-to-consumer sales via its e-commerce platform and retail stores, as well as catalog sales. The brand's focus on distinctive, high-quality products allows it to maintain a loyal customer base willing to pay premium prices. Additionally, Duluth Holdings benefits from seasonal promotions and marketing campaigns that drive traffic both online and in-store. Strategic partnerships with various retail entities may also contribute to its revenue, although specific partnerships and their impacts are not publicly detailed.

Duluth Holdings Financial Statement Overview

Summary

Duluth Holdings is facing financial challenges with declining revenue and profitability, negative cash flows, and a moderate debt-to-equity ratio. Despite a stable gross profit margin, the company needs to address its cash flow and profitability issues to improve its financial health.

Income Statement

Duluth Holdings has experienced declining revenue and profitability over recent periods, with negative net profit margins and EBIT margins in the TTM. The gross profit margin remains relatively stable, but the company faces challenges in reversing its negative revenue growth trajectory.

Balance Sheet

The company's debt-to-equity ratio is moderate, indicating a balanced approach to leveraging. However, the negative return on equity in recent periods highlights profitability challenges. The equity ratio suggests a stable capital structure, but the declining equity base is a concern.

Cash Flow

Duluth Holdings is facing cash flow difficulties, with negative operating and free cash flows in the TTM. The free cash flow to net income ratio is positive, indicating some efficiency in cash management, but overall cash flow trends are concerning.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	602.75M	626.63M	646.68M	653.31M	698.58M	638.78M
Gross Profit	298.26M	308.51M	324.97M	343.44M	377.32M	331.53M
EBITDA	-4.91M	-4.41M	24.25M	37.04M	73.38M	52.80M
Net Income	-46.09M	-43.67M	-9.36M	2.30M	29.70M	13.58M
Balance Sheet
Total Assets	433.80M	452.44M	490.45M	527.45M	515.55M	515.58M
Cash, Cash Equivalents and Short-Term Investments	5.74M	3.33M	32.16M	45.55M	77.05M	47.22M
Total Debt	165.13M	163.13M	186.23M	199.88M	190.25M	237.37M
Total Liabilities	266.74M	272.76M	268.28M	300.26M	292.83M	324.48M
Stockholders Equity	169.99M	182.68M	225.23M	230.41M	225.87M	193.46M
Cash Flow
Free Cash Flow	-33.02M	-25.25M	-10.41M	-28.46M	81.63M	38.49M
Operating Cash Flow	-24.30M	-16.92M	38.67M	-5.63M	91.98M	50.75M
Investing Cash Flow	-8.51M	-8.13M	-48.72M	-22.64M	-10.15M	-12.13M
Financing Cash Flow	28.76M	-3.78M	-3.35M	-3.23M	-51.36M	6.36M

Duluth Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.39
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DLTH, the sentiment is Positive. The current price of 3.39 is above the 20-day moving average (MA) of 3.02, above the 50-day MA of 3.20, and above the 200-day MA of 2.50, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 62.24 is Neutral, neither overbought nor oversold. The STOCH value of 82.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DLTH.

Duluth Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JILL	64 Neutral	$239.84M	6.59	34.74%	1.99%	-2.37%	-16.40%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
DLTH	52 Neutral	$125.12M	―	-24.97%	―	-6.13%	-215.18%
DBI	51 Neutral	$209.57M	―	-9.98%	4.59%	-4.63%	-637.55%
TLYS	48 Neutral	$44.80M	―	-43.51%	―	-11.10%	-10.31%
CATO	45 Neutral	$68.73M	-7.78	-5.58%	―	-1.01%	65.04%
CURV	45 Neutral	$140.82M	45.51	―	―	-5.76%	-75.71%

Duluth Holdings Corporate Events

Duluth Holdings Amends Credit Agreement with BMO Bank

On October 1, 2025, Duluth Holdings Inc. amended its Credit Agreement with BMO Bank N.A. and other lenders, temporarily increasing its revolving credit commitment from $100 million to $125 million until March 31, 2026. This amendment allows Duluth Holdings to potentially request a further $25 million increase after March 31, 2026, subject to lender approval, enhancing its financial flexibility.

The most recent analyst rating on (DLTH) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Duluth Holdings stock, see the DLTH Stock Forecast page.

Duluth Holdings Reports Positive Q2 2025 Turnaround

Duluth Holdings Inc., operating as Duluth Trading Company, is a lifestyle brand specializing in men’s and women’s workwear, casual wear, and outdoor apparel, known for its engaging marketing and unique product offerings.

Duluth Holdings Inc. Earnings Call Highlights Strategic Turnaround

Duluth Holdings Inc. Navigates Strategic Turnaround Amid Challenges

Duluth Holdings Reports Q2 2025 Financial Turnaround

On September 4, 2025, Duluth Holdings announced its financial results for the second quarter ending August 3, 2025, reporting a net income of $1.3 million compared to a net loss of $2.0 million in the same quarter the previous year. The company achieved a gross margin expansion due to promotional resets and cost control measures, resulting in an adjusted EBITDA of $12.0 million. Despite a 7% decrease in net sales to $131.7 million, Duluth Trading improved its financial standing with a reduction in inventory by 12.2% and maintained a net liquidity of $73.3 million. CEO Stephanie Pugliese highlighted the positive momentum in the company’s turnaround efforts, emphasizing improvements in promotional strategies, expense management, and inventory discipline. Looking ahead, the company aims to focus on business simplification and leveraging its core strengths to drive shareholder value and restore profitable growth.

The most recent analyst rating on (DLTH) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Duluth Holdings stock, see the DLTH Stock Forecast page.