Filing Flows › Duluth Holdings (DLTH) › Q2 FY26
Duluth Holdings (DLTH) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 5, 2025
Duluth Holdings (DLTH) reported revenue of $132M for the second quarter fiscal 2026 (Q2 FY26), -7% from a year earlier and +28% from the quarter before. Operating margin was 1.8%, net earnings $1.3M (1.0% of revenue).
Duluth Holdings, Q2 FY26: revenue $132M (-7% year over year), operating margin 1.8%, net earnings $1.3M, operating cash flow $32.0M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $132M | +28% | -7% |
| Gross profit | $72.0M | +35% | -3% |
| Operating profit | $2.4M | — | — |
| Net earnings | $1.3M | — | — |
| Operating cash flow | $32.0M | — | +93% |
| Free cash flow | $29.8M | — | +99% |
What changed
Revenue was $131.7M in Q2 FY26, down 7% year over year and up 28% from the previous quarter.
Gross margin was 54.7%, up 2.4 points from a year earlier. Operating profit was $2.4M, a 1.8% margin (up 3.0 points year over year). Operating expenses fell 8% while revenue fell 7%. Net earnings were $1.3M. The effective tax rate was -51.9%.
Operating cash flow was $32.0M (up 93% year over year), 2477% of net income including minority interests. Non-cash charges added back $6.5M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $23.1M. Capital expenditures of $2.2M left free cash flow of $29.8M.
Questions
What was Duluth Holdings' revenue in the second quarter fiscal 2026?
Duluth Holdings (DLTH) reported revenue of $132M for the second quarter fiscal 2026 (Q2 FY26), -7% from a year earlier and +28% from the quarter before.
Was Duluth Holdings profitable in the second quarter fiscal 2026?
Operating profit was $2.4M (1.8% of revenue) and net earnings $1.3M.
Source: Duluth Holdings 10-Q on SEC EDGAR.