Duluth Holdings, parent of casual and work-wear company Duluth Trading Co., reported higher sales but lower earnings for the last quarter and the full 201 6 fiscal year.
Belleville-based Duluth Holdings announced this week that it earned $14 million, or 43 cents a share, in the quarter that ended Jan. 29, on $174.7 million in revenue.
That compared with a profit of $17.5 million, or 58 cents a share, on revenue of $140.4 million for the last quarter of 2015.
“While we experienced unseasonably warm weather early in the fourth quarter, we had a very positive customer response when the weather turned in late December and the holiday season arrived,” CEO Stephanie Pugliese said in a news release.
For the 2016 fiscal year, Duluth reported $21.3 million in profit, or 66 cents a share, on $376.1 million in revenue, compared with $27.4 million in earnings, or $1.06 a share, on $304.2 million for the 2015 fiscal year.
Pugliese said Duluth Trading will “accelerate the pace” of its store openings, with 10 to 12 expected in fiscal 2017. One store recently opened in Noblesville, Indiana, and another will open this week in Burlington, Massachusetts. That will give the company 18 retail shops.