Duluth Holdings Shares Drop As Outlook Cut
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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