Brand awareness and sales growth are accelerating at Duluth Holdings where the company’s rapidly expanding store base is so young it won’t be able to report same-store sale growth until 2017.
Belleville, Wisconsin-based Duluth Holdings, known to customers as Duluth Trading Company, grew sales 27.5% to $140.4 million and net income increased 25.8% to $17.5 million, or 58 cents a share, during the quarter ended Jan. 31. For the full year, total sales rose 31.2% to $304 billion. Net income grew 16.1% to $27.4 million, or $1.06 a share.
The seller of men’s and women’s casual wear, work wear and accessories opened three new stores to end the year with nine locations.
