Duluth Holdings Surpasses Q3 EPS Estimates Despite Revenue Decline
Duluth Holdings Inc. (NASDAQ:DLTH) reported third-quarter 2025 financial results on December 16, 2025, posting an earnings per share of -$0.23 USD. This figure significantly exceeded the Zacks Consensus Estimate of -$0.56, representing an earnings surprise of approximately 59%.
Quarterly revenue reached $114.87 million, falling below the anticipated $118.5 million and declining from $127.06 million in the same period last year. Despite lower sales volumes, the company improved profitability through gross margin expansion and effective leverage of selling, general, and administrative expenses.
Key financial highlights for the quarter include:
- Net loss narrowed to $10.1 million from $28.2 million in the prior-year quarter.
- Adjusted EBITDA improved by $5.5 million to reach -$0.7 million.
- The company maintained net liquidity of $88.6 million, including $8.2 million in cash and cash equivalents.
Valuation metrics show a price-to-sales ratio of 0.19 and an enterprise value to sales ratio of 0.47. The debt-to-equity ratio remains at 1.08. Detailed performance data is available in the financial summary and the DLTH report.
Historical background and corporate objectives are detailed in the DLTH and DLTH documents. Further data for market participants is available in the DLTH.

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