DLTH - Why Duluth Holdings Stock Collapsed on Thursday
Shares of Duluth Holdings (NASDAQ: DLTH) were down 14% as of 9:44 a.m. on Thursday after reporting financial results for the third quarter ending Oct. 30.
Sales were up last quarter, but they didn't meet analysts' expectations, which sent the stock tumbling. The company has struggled to deliver the growth investors expect amid a challenging economy backdrop. Year to date, the stock has fallen hard as investors weigh the near-term uncertainty with consumer spending.
Duluth reported sales of $147 million for the quarter. While that represented a small increase of 1.3% year over year, it was below expectations of $157 million. Investors were also disappointed that the company reported a loss per share of $0.19, which missed the consensus estimate calling for a profit of $0.02 per share.
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Why Duluth Holdings Stock Collapsed on Thursday