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Duluth Holdings profit holds relatively steady YOY in fiscal Q1

Duluth Holdings Inc. said its normalized net income for the fiscal first quarter ended May 3 was 7 cents per share, a decline from 7 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.7 million, compared with $1.7 million in the year-earlier period.

The normalized profit margin fell to 2.9% from 4.0% in the year-earlier period.

Total revenue climbed 31.2% year over year to $56.8 million from $43.3 million, and total operating expenses climbed 33.3% year over year to $54.1 million from $40.5 million.

Reported net income declined year over year to $1.7 million, or 7 cents per share, from $1.7 million, or 7 cents per share.