Profits grow for Duluth Trading Co.
Duluth Trading Co., the casual and work apparel company founded in Duluth and now based in Wisconsin, drew higher sales and bigger profits in the last quarter and in the full year.
Net income was $17.5 million on sales of $140.4 million for the fourth fiscal quarter that ended Jan. 31 compared with net income of $13.9 million on sales of $110.1 million for the same period, a year ago, the company reported last week.
For the full fiscal year, earnings were $27.4 million on sales of $304.2 million, up from earnings of $23.6 million on $231.9 million in sales.
It was a "milestone year" for Duluth Trading, CEO Stephanie Pugliese said in a statement.
"We became a publicly traded company, made great strides in increasing our brand awareness through highly successful marketing campaigns and opened three new stores, bringing our total store count to nine," she said.
In the next 12 months, the company -- known for products such as its Fire Hose work pants and Buck Naked underwear -- plans to add four or five more stores, Pugliese added.
Shares of stock in the parent company, Duluth Holdings, were trading above $23 a share on Monday, up from below $18 a share at one point on Friday.