Duluth Holdings Inc DLTH:NASDAQ

Last Price$11.77NASDAQ Previous Close - Last Trade as of 4:00PM ET 5/18/22

Today's Change-0.56(4.54%)
Bid (Size)N/A (N/A)
Ask (Size)N/A (N/A)
Day Low / High$11.59 - 12.10
Volume64.8 K

Sector Update: Consumer Stocks Find More Support in Afternoon Trade

3:53PM ET 12/02/2021 MT Newswires
Consumer stocks were adding to prior gains late in Thursday trading, with the SPDR Consumer Staples Select Sector ETF (XLP) climbing 1.3% while the SPDR Consumer Discretionary Select Sector ETF (XLY) was rising 1.5%.

In company news, Duluth Holdings (DLTH) sped almost 20% higher after the clothier reported net income of $0.09 per share for its Q3 ended Oct. 31, triple its $0.03 per share profit last year and topping the single-analyst call expecting a GAAP loss of $0.30 per share. Net sales increased 7.2% to $145.3 million, also above consensus, and the company also raised its FY21 earnings forecast by $0.10 to a new range of $0.81 to $0.86 per share and sprinting past the $0.42 per share Street view.

Kroger (KR) rose over 11% after the grocery chain beat Wall Street estimates with its fiscal Q3 results and raised its FY22 earnings forecast. Excluding one-time items, it earned $0.78 per share during the three months ended Nov. 6, up from $0.71 per share during the same quarter last year, while net sales grew 7.2% year-over-year to $31.86 billion. Analysts, on average, had been looking for a $0.67 per share adjusted profit on $31.22 billion in sales.

Krispy Kreme (DNUT) climbed 7% after 44.8% shareholder JAB Holding said it was betting the donut chain's share price will rise, signing a total-return swap agreement with BNP Paribas that will see the French banking giant pay JAB the difference from any positive performance over the current price for up to 6.5 million shares. JAB is on the hook if the price falls.

Among decliners, Dollar General (DG) slid 3% after the discount retailer reported lower earnings for its fiscal Q3 ended Oct. 31 compared with year-ago levels, upstaging higher sales and the company also raising the bottom end of its forecast range for FY22 sales. Net income fell to $2.08 a share from $2.31 during the same quarter last year but still topped the Capital IQ consensus by $0.05 per share.