Follow-up on Duluth Trading ($DLTH)

Short Q4 2023 Results Review

Making a follow-up of an article written two weeks ago makes little sense. Relevant changes are uncommon in so short period of time. However, being Duluth Trading (DLTH) in the midst of a turnaround process and having reported its FY2023 results last week, I think it might be useful.

The results were in line with its guidance in terms of revenues but below with regard to profitability and market expectations. Market reaction was rather tame, but negative during the previous days, so all in all the stock has kept falling.

However in my opinion those results were not so bad. It is clear that the Company is still suffering within this macro environment and still trying to reach the “inflection point”, but there are many aspects that invite to remain optimistic. Let’s have a look to some of those aspects:

·        DLTH reported net sales increase of +1.6%, with women’s apparel sales +12.4% and men’s flat. Ok, it could be better, but let’s have a look to some of its public peers to get a litt…