Adjusted earnings per share for the quarter were $0.23, surpassing analyst estimates of $0.15. This marks a recovery from a loss per share recorded a year ago.
The company reported revenue of $215.89 million for the quarter, above the analyst estimate of $210.67 million. This figure represents a decrease from the revenue reported in the same quarter last year.
Fourth-quarter adjusted EBITDA increased by $8.9 million from the prior year to $17.5 million. Gross margin rose to 53.0 percent of net sales, overcoming a $7.6 million tariff impact. The company ended the quarter with $16.3 million in cash and cash equivalents and $63.8 million in net working capital.
For the full year 2025, the net loss was reduced to $16.2 million compared to a net loss of $43.6 million in the prior year. Reported EPS loss was $0.47, and adjusted EPS loss was $0.43, accounting for restructuring and impairment expenses of $1.4 million, net of tax. Adjusted EBITDA increased by $10.3 million from the prior year to $24.9 million. Full-year positive free cash flow was $16.6 million, an improvement of $41.8 million compared to the prior year.
Looking forward, Duluth Holdings has provided a revenue outlook for fiscal year 2026 in the range of $540.00 million to $560.00 million. This forecast aligns closely with the analyst consensus of $547.74 million.
President and CEO Stephanie Pugliese stated, “I couldn’t be prouder of the team’s disciplined efforts in managing promotional resets, controlling expenses, streamlining operations, and optimizing inventory levels. The strong operational execution in the fourth quarter and the year led to enhanced gross margin, lower operating costs, reduced inventory, and improved profitability and free cash flow.”
 reported fourth-quarter revenue of $215.89 million, exceeding analyst estimates of $210.67 million, though it declined from the previous year.){kind=link}