The company announced earnings of $US0.43 per share, which handily beat the $US0.34 that was expected.
Revenue surged 24.4% year-over-year to $US174.65 million, topping the $US163.1 million that Wall Street was anticipating.
The small-time brand famous for its funny cartoon commercials is making real headway into the garment market by offering direct to consumer sales that can be compared to Tesla, Casper, or Dollar Shave Club, but with comfy underwear.
Duluth Trading has had continuous YoY growth every quarter since 2009.
Right now most of the sales have come from men; however, the company says they are going to put more effort into growing their women’s business going forward. Women’s sales have grown 45% YoY from 2012-2016 to 21% of total sales. The company says, “women have lower awareness of our brand relative to men, but report high levels of satisfaction once they have tried our product.”
The company is also planning to open more retail locations across the country.
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