Strong 1Q showing for Duluth Trading

Belleville-based Duluth Trading Co. announced first quarter financial results for the quarter ending May 1.

Net income was $3.2 million (10 cents/diluted share) compared to $2.7 million (11 cents/diluted share) a year earlier. Net sales increased 20.8% year over year, from $56.8 million for the first quarter of 2015 to $68.6 million this year.

Gross profit increased 21.5% to $39.7 million, or 57.8% of net sales, compared to $32.7 million, or 57.5% of net sales.

The company is also expanding its Belleville location by 75,000-square-feet, and will open five new retail stores by early 2017.