Duluth Holdings Shares Drop As Outlook Cut

By Wallace Witkowski Markets MarketWatch Pulse

Duluth Holdings Inc. shares fell in the extended session Thursday after the outerwear and apparel maker reduced its full-year forecast below Wall Street expectations because of warmer weather impacting sales. Duluth shares dropped 16% to $31.25 after hours. The company said it expects 2016 earnings of 52 cents to 60 cents a share on revenue of $360 million to $370 million. Analysts surveyed by FactSet had forecast earnings of 70 cents a share on revenue of $380.1 million. For the third quarter, Duluth reported earnings of a penny a share on revenue of $67 million, while analysts had expected a penny a share on revenue of $69.2 million.

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