Duluth (DLTH)
Market Price (7/11/2026): $4.04 | Market Cap: $140.2 MilSector: Consumer Discretionary | Industry: Apparel Retail
Duluth (DLTH)
Market Price (7/11/2026): $4.04Market Cap: $140.2 MilSector: Consumer DiscretionaryIndustry: Apparel Retail
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% Attractive yieldFCF Yield is 42% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Sustainable Consumption. Themes include Direct-to-Consumer Brands, Show more. | Weak multi-year price returns2Y Excs Rtn is -23%, 3Y Excs Rtn is -106% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.3% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 102% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.4%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.0%, Rev Chg QQuarterly Revenue Change % is -4.0% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 89% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% High stock price volatilityVol 12M is 100% Key risksDLTH key risks include [1] significant financial distress, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 42% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Sustainable Consumption. Themes include Direct-to-Consumer Brands, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -23%, 3Y Excs Rtn is -106% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.7 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.3% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 102% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.4%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.0%, Rev Chg QQuarterly Revenue Change % is -4.0% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 89% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% |
| High stock price volatilityVol 12M is 100% |
| Key risksDLTH key risks include [1] significant financial distress, Show more. |
Qualitative Assessment
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Duluth (DLTH) stock has gained about 30% since 3/31/2026 because of the following key factors:
1. Duluth Holdings Inc. reported stronger-than-expected fiscal Q1 2027 earnings, which ended May 3, 2026, with an adjusted EPS of ($0.20) that significantly beat the consensus estimate of ($0.39) by $0.19. The company also narrowed its net loss to $10.0 million from $15.3 million in the prior-year first quarter and saw its adjusted EBITDA increase by $6.4 million to $2.6 million, indicating improved profitability.
2. The company achieved substantial gross margin expansion in fiscal Q1 2027, with margins increasing by 540 basis points to 57.4% of net sales. This improvement was primarily driven by reduced promotional activity, strategic direct-to-factory sourcing, and favorable vendor negotiations, reflecting a successful effort to restore price integrity.
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Duluth (DLTH) stock has gained about 30% since 3/31/2026 because of the following key factors:
1. Duluth Holdings Inc. reported stronger-than-expected fiscal Q1 2027 earnings, which ended May 3, 2026, with an adjusted EPS of ($0.20) that significantly beat the consensus estimate of ($0.39) by $0.19. The company also narrowed its net loss to $10.0 million from $15.3 million in the prior-year first quarter and saw its adjusted EBITDA increase by $6.4 million to $2.6 million, indicating improved profitability.
2. The company achieved substantial gross margin expansion in fiscal Q1 2027, with margins increasing by 540 basis points to 57.4% of net sales. This improvement was primarily driven by reduced promotional activity, strategic direct-to-factory sourcing, and favorable vendor negotiations, reflecting a successful effort to restore price integrity.
3. Duluth effectively managed its inventory levels, reporting a significant year-over-year reduction of $43.7 million, or 24.8%, in fiscal Q1 2027. This disciplined approach to inventory management contributed to a strengthened balance sheet, with approximately $100 million of net liquidity at the quarter's end.
4. Management raised its fiscal 2027 Adjusted EBITDA guidance to a range of $28 million to $32 million, an increase from the previously issued guidance of $26 million to $30 million. This upward revision signals enhanced confidence in the company's full-year profitability outlook and strategic execution.
5. Duluth unveiled a new "Build to Last" strategic plan on June 8, 2026, alongside its Q1 2027 earnings release, outlining a long-term roadmap that targets a 1-3% revenue CAGR and an 8-10% adjusted EBITDA margin by 2028. This comprehensive strategic vision and commitment to future growth and profitability likely boosted investor confidence.
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Stock Movement Drivers
Fundamental Drivers
The 27.5% change in DLTH stock from 3/31/2026 to 7/10/2026 was primarily driven by a 24.6% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.16 | 4.03 | 27.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 565 | 561 | -0.7% |
| P/S Multiple | 0.2 | 0.2 | 24.6% |
| Shares Outstanding (Mil) | 36 | 35 | 3.1% |
| Cumulative Contribution | 27.5% |
Market Drivers
3/31/2026 to 7/10/2026| Return | Correlation | |
|---|---|---|
| DLTH | 27.5% | |
| Market (SPY) | 16.1% | 23.0% |
| Sector (XLY) | 7.6% | 27.3% |
Fundamental Drivers
The 93.8% change in DLTH stock from 12/31/2025 to 7/10/2026 was primarily driven by a 105.1% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.08 | 4.03 | 93.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 591 | 561 | -5.0% |
| P/S Multiple | 0.1 | 0.2 | 105.1% |
| Shares Outstanding (Mil) | 35 | 35 | -0.6% |
| Cumulative Contribution | 93.8% |
Market Drivers
12/31/2025 to 7/10/2026| Return | Correlation | |
|---|---|---|
| DLTH | 93.8% | |
| Market (SPY) | 11.0% | 24.0% |
| Sector (XLY) | -1.6% | 24.0% |
Fundamental Drivers
The 91.9% change in DLTH stock from 6/30/2025 to 7/10/2026 was primarily driven by a 115.7% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.10 | 4.03 | 91.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 613 | 561 | -8.4% |
| P/S Multiple | 0.1 | 0.2 | 115.7% |
| Shares Outstanding (Mil) | 34 | 35 | -2.9% |
| Cumulative Contribution | 91.9% |
Market Drivers
6/30/2025 to 7/10/2026| Return | Correlation | |
|---|---|---|
| DLTH | 91.9% | |
| Market (SPY) | 23.2% | 23.8% |
| Sector (XLY) | 8.5% | 24.8% |
Fundamental Drivers
The -35.8% change in DLTH stock from 6/30/2023 to 7/10/2026 was primarily driven by a -21.0% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7102026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.28 | 4.03 | -35.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 654 | 561 | -14.2% |
| P/S Multiple | 0.3 | 0.2 | -21.0% |
| Shares Outstanding (Mil) | 33 | 35 | -5.3% |
| Cumulative Contribution | -35.8% |
Market Drivers
6/30/2023 to 7/10/2026| Return | Correlation | |
|---|---|---|
| DLTH | -35.8% | |
| Market (SPY) | 76.3% | 25.6% |
| Sector (XLY) | 41.2% | 26.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DLTH Return | 44% | -59% | -13% | -43% | -33% | 101% | -60% |
| Peers Return | 42% | -40% | 7% | 63% | -15% | 7% | 36% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| DLTH Win Rate | 67% | 42% | 42% | 25% | 42% | 71% | |
| Peers Win Rate | 58% | 28% | 55% | 62% | 43% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| DLTH Max Drawdown | -34% | -64% | -37% | -46% | -50% | -19% | |
| Peers Max Drawdown | -26% | -52% | -40% | -22% | -52% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VFC, COLM, BOOT, WWW, KTB. See DLTH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/10/2026 (YTD)
How Low Can It Go
| Event | DLTH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.4% | -18.8% |
| % Gain to Breakeven | 70.7% | 23.1% |
| Time to Breakeven | 156 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -18.3% | -6.7% |
| % Gain to Breakeven | 22.4% | 7.1% |
| Time to Breakeven | 22 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.7% | -33.7% |
| % Gain to Breakeven | 142.2% | 50.9% |
| Time to Breakeven | 67 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -38.7% | -3.7% |
| % Gain to Breakeven | 63.2% | 3.9% |
| Time to Breakeven | 419 days | 6 days |
In The Past
Duluth's stock fell -41.4% during the 2025 US Tariff Shock. Such a loss loss requires a 70.7% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | DLTH | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.4% | -18.8% |
| % Gain to Breakeven | 70.7% | 23.1% |
| Time to Breakeven | 156 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.7% | -33.7% |
| % Gain to Breakeven | 142.2% | 50.9% |
| Time to Breakeven | 67 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -38.7% | -3.7% |
| % Gain to Breakeven | 63.2% | 3.9% |
| Time to Breakeven | 419 days | 6 days |
In The Past
Duluth's stock fell -41.4% during the 2025 US Tariff Shock. Such a loss loss requires a 70.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Duluth (DLTH)
Duluth Holdings Inc. (DLTH) is a specialty retailer operating primarily under the Duluth Trading brand, focusing on the design, sourcing, and sale of casual wear, workwear, and accessories. The company's core business revolves around providing durable, functional, and comfortable apparel and gear primarily for men and women in the United States.
Its extensive product catalog includes a wide range of items such as shirts, pants, underwear, outerwear, footwear, and various accessories and hard goods. Duluth Trading is recognized for its proprietary product innovations and trademarks, including "Fire Hose" fabric known for extreme durability, "Longtail T" shirts designed for extended coverage, and "Buck Naked" underwear celebrated for comfort. These distinctive features cater to customers seeking practical and robust solutions for both everyday wear and demanding work environments.
Duluth Trading primarily serves a domestic customer base within the United States, appealing to individuals who prioritize comfort, durability, and functionality in their clothing—often those engaged in outdoor activities, manual labor, or simply appreciating rugged, practical apparel. The company reaches its customers through a multi-channel approach, utilizing its e-commerce website, direct-to-consumer catalogs, and a network of physical retail stores across the country.
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Here are 1-3 brief analogies for Duluth Holdings Inc. (DLTH):
- Duluth is like if Carhartt met L.L.Bean, offering durable workwear and practical casual apparel through catalogs, online, and retail stores.
- Think of Duluth as a more rugged and innovative Lands' End, known for its durable and comfortable clothing with unique features.
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- Shirts: A variety of tops for men and women, including t-shirts, button-downs, and work shirts.
- Pants: Bottom-wear options for men and women, such as jeans, work pants, and casual trousers.
- Underwear: Specialized undergarments designed for comfort and performance for both genders.
- Outerwear: Jackets, coats, vests, and other garments designed to be worn over other clothing for protection from the elements.
- Footwear: Shoes, boots, and other items worn on the feet, offering comfort and durability.
- Accessories: Items like belts, hats, bags, and other additions that complement clothing and lifestyle.
- Hard Goods: Non-apparel items such as tools, gear, and other practical merchandise for various uses.
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Duluth Holdings Inc. (DLTH) sells its products primarily to individual consumers.
The company serves the following categories of customers:
- Manual laborers and tradespeople: Individuals who require durable, functional, and comfortable workwear for demanding jobs in fields such as construction, skilled trades, and agriculture.
- Outdoor enthusiasts and hobbyists: Consumers who seek rugged and reliable clothing and accessories for outdoor activities, gardening, or other demanding hobbies that require durable and practical apparel.
- Everyday consumers: Individuals who appreciate high-quality, comfortable, and long-lasting casual wear for daily use, valuing the brand's reputation for durability, practical features, and unique designs.
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Stephanie Pugliese, President and Chief Executive Officer
Stephanie Pugliese assumed the role of President and Chief Executive Officer of Duluth Holdings Inc. effective May 5, 2025. A retail veteran with 30 years of experience, she previously led Duluth Trading as President and CEO from February 2015 to August 2019, a period during which the company doubled its net sales and enhanced profitability. Prior to her return to Duluth Trading, Ms. Pugliese served as President of North America for Under Armour, Inc. from September 2019 to May 2020, and as President of the Americas from June 2020 to March 2023. Her career also includes executive positions at Lands' End, Inc. (2005-2008) and Ann, Inc. (2000-2003). Ms. Pugliese holds a Bachelor of Science degree in Marketing from New York University Stern School of Business. She currently serves on the Advisory Board of the Women in Retail Leadership Circle and Cooper's Hawk Winery and Restaurants, and has been a director on the board of Fortune Brands Innovations, Inc. since March 2023.
Heena Agrawal, Senior Vice President and Chief Financial Officer
Heena Agrawal was appointed Senior Vice President and Chief Financial Officer of Duluth Holdings Inc., effective February 12, 2024. She brings two decades of finance and leadership experience from diverse industries. Ms. Agrawal's professional background includes roles such as CFO, Global Wrangler and Global Kontoor Supply Chain at Kontoor Brands; CFO, Global Industrial Segment and CFO, Global Connected Technology Appliances & Lighting Division at Underwriters Laboratories; and vendor synergy leader, Rite Aid M&A Integration at Walgreens Boots Alliance. She spent the first ten years of her finance career at Procter & Gamble. Ms. Agrawal is a CPA and holds a CF and an MBA from the Kelley School of Business at Indiana University.
Stephen L. Schlecht, Chairman and Founder, Senior Advisor
Stephen L. Schlecht is the Founder of Duluth Holdings Inc. and currently serves as its Chairman of the Board and Senior Advisor. He has been a member of the board of directors since the company's founding in 1986. Mr. Schlecht previously held the position of President and Chief Executive Officer from February 2003 to February 2015, after which he became Executive Chairman. He also served as Interim CEO from September 2019 to May 2021 and again from April 25, 2025, until Stephanie Pugliese's appointment in May 2025. Furthermore, Mr. Schlecht founded GEMPLER'S Inc. in 1986 and served as its President and Chief Executive Officer until February 2003. He holds BSBA and MBA degrees from Northwestern University.
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The key risks to Duluth Holdings Inc.'s business (DLTH) are:
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Declining Sales and Profitability: Duluth Holdings Inc. faces significant challenges with consistent declines in sales, flat or decreasing gross margins, and growing operating losses, leading to negative earnings. This suggests fundamental issues with their strategic approach, merchandising effectiveness, and ability to compete in the apparel market. Management has acknowledged strategic problems and is considering store and fulfillment center closures as part of a strategic review.
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Debt and Liquidity Concerns: The company carries a notable level of debt, with liabilities significantly outweighing its cash and near-term receivables. Recent reports indicate net debt and a considerable deficit when comparing current liabilities to liquid assets. The company has incurred earnings before interest and tax (EBIT) losses, raising concerns about its ability to service its debt and potentially requiring a major recapitalization if creditors demanded repayment.
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Supply Chain and Distribution Disruptions: Duluth Holdings Inc. is exposed to risks associated with potential disruptions in its supply chain and distribution centers. Such disruptions could adversely affect the company's ability to procure products, manage inventory, and deliver goods to customers, thereby impacting sales and profitability.
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Duluth Holdings Inc. (DLTH) operates in the United States, selling casual wear, workwear, and accessories for men and women. The addressable markets for these main product categories in the U.S. are substantial.
Addressable Markets in the U.S.
- Casual Wear: The United States casual wear market was valued at approximately USD 196.22 billion in 2024. This market is projected to grow to about USD 266.47 billion by 2033.
- Workwear: The U.S. workwear market generated an estimated revenue of USD 3,482.1 million (USD 3.48 billion) in 2024. It is expected to reach USD 4,973.5 million (USD 4.97 billion) by 2033.
- Accessories: The U.S. fashion accessories market, which includes various accessories, was valued at USD 222,074.1 million (USD 222.07 billion) in 2024. This market is projected to grow to approximately USD 342,988.5 million (USD 342.99 billion) by 2030.
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Duluth Holdings Inc. (DLTH) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Expansion and Growth in Women's Business and AKHG Brand: The company has observed significant acceleration in its women's business, with double-digit growth across both the Duluth and AKHG brands. The AKHG women's business, in particular, has demonstrated strong year-over-year growth exceeding 20%, indicating a continued focus on and success within this segment.
- Introduction and Performance of New Products: Duluth Trading Co. continues to focus on product innovation. Successful new "hero products" such as the Heirloom Gardening bib, which has seen extended wear potential with the introduction of a lined version, are expected to contribute to revenue by attracting new customers and expanding product offerings.
- Strategic Marketing Investments for Customer Acquisition and Retention: The company is committed to maintaining its strategic investment in marketing. This effort is aimed at attracting new customers to the brand while simultaneously strengthening relationships with its existing customer base, thereby fostering sustained customer growth and repeat business.
- Implementation of Strategic Pricing Actions: Duluth Holdings Inc. plans to focus on resetting price integrity and undertaking pricing actions. These initiatives are designed to lead to higher average prices, which, combined with improved promotional strategies, are anticipated to positively impact revenue per unit.
- Enhanced Operational Execution and Efficiency: Efforts to improve operational execution and efficiency, including better inventory management and optimized fulfillment costs, are crucial for supporting revenue growth. These efficiencies can lead to improved gross margins and allow for more competitive positioning and product availability, indirectly driving sales.
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Capital Allocation Decisions (Last 3-5 Years)
Share Issuance
- Duluth Holdings Inc. has seen an increase in its Class B common stock outstanding, from approximately 29.44 million shares as of June 2, 2020, to about 31.77 million shares as of March 19, 2025.
- Directors have received equity awards of Class B Common Stock in lieu of quarterly cash retainers, including 6,406 shares on October 30, 2025, and 7,469 shares on February 1, 2026.
Capital Expenditures
- Capital expenditures were $12.3 million for fiscal year 2020 (ended January 31, 2021), $15.1 million for fiscal year 2021 (ended January 30, 2022), $31.5 million for fiscal year 2022 (ended January 29, 2023), $53.2 million for fiscal year 2023 (ended January 28, 2024), and $17.4 million for fiscal year 2024 (ended February 2, 2025).
- Fiscal year 2022 capital expenditures included strategic investments in a new automated Southeast fulfillment center and re-platforming the company's website with next-generation e-commerce architecture, as well as software hosting implementation costs.
- For fiscal year 2023, the company projected capital expenditures, including software hosting implementation costs, to be approximately $55 million.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.34 |
| Mkt Cap | 4.0 |
| Rev LTM | 2,698 |
| Op Inc LTM | 265 |
| FCF LTM | 153 |
| FCF 3Y Avg | 247 |
| CFO LTM | 271 |
| CFO 3Y Avg | 321 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.7% |
| Rev Chg 3Y Avg | -2.9% |
| Rev Chg Q | 6.0% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | 32.0% |
| Op Inc Chg 3Y Avg | 0.4% |
| Op Mgn LTM | 7.7% |
| Op Mgn 3Y Avg | 6.6% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 9.7% |
| CFO/Rev 3Y Avg | 9.9% |
| FCF/Rev LTM | 6.2% |
| FCF/Rev 3Y Avg | 6.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.0 |
| P/S | 0.9 |
| P/Op Inc | 12.0 |
| P/EBIT | 12.7 |
| P/E | 18.3 |
| P/CFO | 10.7 |
| Total Yield | 6.3% |
| Dividend Yield | 1.3% |
| FCF Yield 3Y Avg | 8.7% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.1% |
| 3M Rtn | 7.7% |
| 6M Rtn | 3.9% |
| 12M Rtn | 13.1% |
| 3Y Rtn | 17.1% |
| 1M Excs Rtn | -5.1% |
| 3M Excs Rtn | -5.3% |
| 6M Excs Rtn | -2.1% |
| 12M Excs Rtn | -6.4% |
| 3Y Excs Rtn | -56.9% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Single Segment | 565 | 627 | 647 | 653 | 699 |
| Total | 565 | 627 | 647 | 653 | 699 |
| $ Mil | 2026 | 2025 | 2024 | 2020 | 2019 |
|---|---|---|---|---|---|
| Single Segment | -10 | -37 | -10 | ||
| Direct-to-consumer | -10 | -0 | |||
| Stores | 38 | 38 | |||
| Total | -10 | -37 | -10 | 28 | 37 |
| $ Mil | 2026 | 2025 |
|---|---|---|
| Single Segment | -16 | -44 |
| Total | -16 | -44 |
| $ Mil | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| Direct-to-consumer | 244 | 183 | 134 | 115 | |
| Stores | 230 | 114 | 89 | 41 | |
| Direct | 107 | ||||
| Retail | 14 | ||||
| Total | 474 | 297 | 223 | 156 | 121 |
Price Behavior
| Market Price | $4.03 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 11/20/2015 | |
| Distance from 52W High | -15.5% | |
| 50 Days | 200 Days | |
| DMA Price | $3.76 | $3.06 |
| DMA Trend | up | up |
| Distance from DMA | 7.0% | 31.9% |
| 3M | 1YR | |
| Volatility | 86.5% | 100.6% |
| Downside Capture | 210.24 | 185.81 |
| Upside Capture | 204.17 | 211.10 |
| Correlation (SPY) | 24.4% | 23.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.16 | 1.59 | 1.57 | 1.59 | 1.89 | 1.21 |
| Up Beta | -1.07 | 0.14 | 1.19 | 1.34 | 1.96 | 1.30 |
| Down Beta | 0.88 | 1.07 | 1.06 | 2.28 | 1.75 | 0.96 |
| Up Capture | 653% | 346% | 260% | 310% | 414% | 125% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 10 | 21 | 32 | 64 | 121 | 336 |
| Down Capture | 159% | 135% | 153% | 75% | 139% | 109% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 10 | 19 | 30 | 59 | 122 | 383 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DLTH | |
|---|---|---|---|---|
| DLTH | 73.3% | 100.4% | 0.95 | - |
| Sector ETF (XLY) | 7.7% | 18.7% | 0.26 | 24.6% |
| Equity (SPY) | 22.1% | 12.5% | 1.31 | 23.6% |
| Gold (GLD) | 23.5% | 27.8% | 0.75 | -2.8% |
| Commodities (DBC) | 23.6% | 18.7% | 0.99 | -6.2% |
| Real Estate (VNQ) | 13.4% | 13.9% | 0.67 | 8.2% |
| Bitcoin (BTCUSD) | -43.4% | 42.8% | -1.21 | 11.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DLTH | |
|---|---|---|---|---|
| DLTH | -26.7% | 64.1% | -0.24 | - |
| Sector ETF (XLY) | 6.3% | 23.9% | 0.22 | 33.0% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 31.6% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | -2.9% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | 5.4% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 23.3% |
| Bitcoin (BTCUSD) | 13.5% | 53.4% | 0.44 | 15.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DLTH | |
|---|---|---|---|---|
| DLTH | -16.1% | 62.1% | -0.02 | - |
| Sector ETF (XLY) | 12.9% | 22.1% | 0.53 | 34.6% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 32.6% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | -0.6% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 11.5% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 25.6% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 8.3% |
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Returns Analyses
Earnings Returns History
Updated 7/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/8/2026 | 29.8% | 41.0% | 25.0% |
| 3/19/2026 | 44.7% | 45.2% | 52.5% |
| 12/16/2025 | -29.4% | -29.7% | -25.6% |
| 9/4/2025 | 52.1% | 52.1% | 61.9% |
| 6/5/2025 | -17.4% | -10.7% | -1.8% |
| 3/13/2025 | -10.8% | -25.8% | -32.2% |
| 12/5/2024 | -8.3% | -9.9% | -19.9% |
| 8/29/2024 | 18.9% | 17.6% | 18.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 11 |
| # Negative | 14 | 12 | 12 |
| Median Positive | 18.4% | 17.6% | 16.3% |
| Median Negative | -9.1% | -12.6% | -20.3% |
| Max Positive | 52.1% | 52.1% | 61.9% |
| Max Negative | -29.4% | -30.8% | -32.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/8/2026 | 29.8% | 41.0% | 25.0% |
| 3/19/2026 | 44.7% | 45.2% | 52.5% |
| 12/16/2025 | -29.4% | -29.7% | -25.6% |
| 9/4/2025 | 52.1% | 52.1% | 61.9% |
| 6/5/2025 | -17.4% | -10.7% | -1.8% |
| 3/13/2025 | -10.8% | -25.8% | -32.2% |
| 12/5/2024 | -8.3% | -9.9% | -19.9% |
| 8/29/2024 | 18.9% | 17.6% | 18.3% |
| 5/30/2024 | -1.5% | -9.0% | -8.2% |
| 3/7/2024 | 0.9% | 4.3% | 10.9% |
| 11/30/2023 | -2.5% | -3.3% | 4.7% |
| 8/31/2023 | -13.5% | -15.6% | -18.2% |
| 6/1/2023 | 4.6% | 20.7% | 16.3% |
| 3/9/2023 | 9.2% | 10.7% | 1.3% |
| 12/1/2022 | -16.8% | -30.8% | -29.5% |
| 9/1/2022 | -2.8% | -12.6% | -20.6% |
| 6/2/2022 | -2.6% | -12.6% | -23.6% |
| 3/10/2022 | -1.9% | 2.9% | -5.9% |
| 12/2/2021 | 18.4% | 16.7% | 11.7% |
| 6/3/2021 | -6.9% | 3.5% | 14.6% |
| 3/18/2021 | -10.0% | -10.6% | -3.5% |
| 12/3/2020 | -14.9% | -17.0% | -22.8% |
| 9/3/2020 | 7.9% | 22.3% | 23.6% |
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 11 |
| # Negative | 14 | 12 | 12 |
| Median Positive | 18.4% | 17.6% | 16.3% |
| Median Negative | -9.1% | -12.6% | -20.3% |
| Max Positive | 52.1% | 52.1% | 61.9% |
| Max Negative | -29.4% | -30.8% | -32.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/09/2026 | 10-Q |
| 01/31/2026 | 03/20/2026 | 10-K |
| 10/31/2025 | 12/17/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/24/2025 | 10-K |
| 10/31/2024 | 12/06/2024 | 10-Q |
| 07/31/2024 | 08/30/2024 | 10-Q |
| 04/30/2024 | 05/31/2024 | 10-Q |
| 01/31/2024 | 03/22/2024 | 10-K |
| 10/31/2023 | 12/01/2023 | 10-Q |
| 07/31/2023 | 09/01/2023 | 10-Q |
| 04/30/2023 | 06/02/2023 | 10-Q |
| 01/31/2023 | 03/17/2023 | 10-K |
| 10/31/2022 | 12/02/2022 | 10-Q |
| 07/31/2022 | 09/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/09/2026 | 10-Q |
| 01/31/2026 | 03/20/2026 | 10-K |
| 10/31/2025 | 12/17/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/24/2025 | 10-K |
| 10/31/2024 | 12/06/2024 | 10-Q |
| 07/31/2024 | 08/30/2024 | 10-Q |
| 04/30/2024 | 05/31/2024 | 10-Q |
| 01/31/2024 | 03/22/2024 | 10-K |
| 10/31/2023 | 12/01/2023 | 10-Q |
| 07/31/2023 | 09/01/2023 | 10-Q |
| 04/30/2023 | 06/02/2023 | 10-Q |
| 01/31/2023 | 03/17/2023 | 10-K |
| 10/31/2022 | 12/02/2022 | 10-Q |
| 07/31/2022 | 09/02/2022 | 10-Q |
| 04/30/2022 | 06/03/2022 | 10-Q |
| 01/31/2022 | 03/25/2022 | 10-K |
| 10/31/2021 | 12/03/2021 | 10-Q |
| 07/31/2021 | 09/03/2021 | 10-Q |
| 04/30/2021 | 06/04/2021 | 10-Q |
| 01/31/2021 | 03/26/2021 | 10-K |
| 10/31/2020 | 12/04/2020 | 10-Q |
| 07/31/2020 | 09/04/2020 | 10-Q |
| 04/30/2020 | 06/05/2020 | 10-Q |
| 01/31/2020 | 03/20/2020 | 10-K |
| 10/31/2019 | 12/06/2019 | 10-Q |
| 07/31/2019 | 09/13/2019 | 10-Q |
Recent Forward Guidance
Updated 7/9/2026Latest: Q1 2026 Earnings Reported 6/8/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | 540.00 Mil | 550.00 Mil | 560.00 Mil | 0 | Affirmed | Guidance: 550.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 28.00 Mil | 30.00 Mil | 32.00 Mil | 7.1% | Raised | Guidance: 28.00 Mil for 2026 | |
| 2026 Capital Expenditures | 12.00 Mil | 0 | Affirmed | Guidance: 12.00 Mil for 2026 | |||
Prior: Q4 2025 Earnings Reported 3/19/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | 540.00 Mil | 550.00 Mil | 560.00 Mil | -1.8% | Lower New | Guidance: 560.00 Mil for 2025 | |
| 2026 Adjusted EBITDA | 26.00 Mil | 28.00 Mil | 30.00 Mil | 16.7% | Higher New | Guidance: 24.00 Mil for 2025 | |
| 2026 Capital Expenditures | 12.00 Mil | -29.4% | Lower New | Guidance: 17.00 Mil for 2025 | |||
Insider Activity
Updated 6/5/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Schlecht, Richard W | SVP, Product Dev. & Sourcing | Direct | Buy | 12292025 | 2.22 | 10,502 | 23,309 | 781,781 | Form |
| 2 | Schlecht, Richard W | SVP, Product Dev. & Sourcing | Direct | Buy | 12292025 | 2.17 | 18,052 | 39,084 | 739,882 | Form |
| 3 | Agrawal, Heena | Senior Vice President and CFO | Direct | Buy | 9292025 | 3.50 | 10,000 | 34,989 | 868,053 | Form |
| 4 | Agrawal, Heena | Senior Vice President and CFO | Direct | Buy | 6182025 | 1.90 | 13,000 | 24,657 | 451,591 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Schlecht, Richard W | SVP, Product Dev. & Sourcing | Direct | Buy | 12292025 | 2.22 | 10,502 | 23,309 | 781,781 | Form |
| 2 | Schlecht, Richard W | SVP, Product Dev. & Sourcing | Direct | Buy | 12292025 | 2.17 | 18,052 | 39,084 | 739,882 | Form |
| 3 | Agrawal, Heena | Senior Vice President and CFO | Direct | Buy | 9292025 | 3.50 | 10,000 | 34,989 | 868,053 | Form |
| 4 | Agrawal, Heena | Senior Vice President and CFO | Direct | Buy | 6182025 | 1.90 | 13,000 | 24,657 | 451,591 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Apparel Retail Resources |
| Apparel News |
| Just Style |
| Sourcing Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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