Duluth Trading is building a large addition onto its Belleville distribution center and plans to open five stores by early 2017, including its first East Coast location.
The Belleville company, known for its casual and work apparel, announced the expansions in its quarterly earnings report, released late Tuesday.
Sales rose more than 20 percent over a year ago and earnings were up, yet shares of parent company Duluth Holdings stock were trading lower on Wednesday.
Duluth Holdings reported net income of $3.2 million, or 10 cents a share, on revenue of $68.6 million for the first fiscal quarter that ended May 1 compared with net income of $2.7 million, or 11 cents a share, on $56.8 million in revenue for the same period last year.
“We are off to a solid start this fiscal year,” CEO Stephanie Pugliese said in a written statement.
Pugliese said the company is building a 75,000-square-foot addition onto its Belleville distribution center which is expected to be completed by fall. Further information about the project — or if it will add jobs — was not immediately available from the company.
The five new stores will be in La Crosse, opening in mid-June; Omaha, Nebraska, in July; two locations in the Chicago area, this fall; and in King of Prussia, Pennsylvania, near Philadelphia.
Sales at Duluth Trading’s retail stores jumped 52.4 percent in the first quarter over a year ago, with the growth attributed partly to opening two retail shops and an outlet store in the past year. Direct sales were 17.5 percent higher.
The company’s stock was trading down Wednesday, though, dipping to $24 at one point, or 6.4 percent below Tuesday’s close at $25.64 a share. It closed Wednesday at $25.04, down 60 cents from the day before.
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