Duluth Holdings Inc. Files Q2 2024 10-Q Report

TL;DR

DLTH Q2 10-Q filed. Check financials for latest performance.

AI Summary

Duluth Holdings Inc. filed its 10-Q for the period ending July 28, 2024. The company reported financial results for the second quarter of fiscal year 2024. Specific financial figures and operational details for this period are detailed within the filing.

Why It Matters

This filing provides investors and analysts with the official financial performance and operational status of Duluth Holdings Inc. for the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the inherent risks of the retail apparel sector and company-specific performance can influence its impact.

Key Numbers

• 20240728 — Reporting Period End Date (Indicates the end of the fiscal quarter for which results are reported.)
• 20240830 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• DULUTH HOLDINGS INC. (company) — Filer
• 201 EAST FRONT STREET (location) — Business and Mail Address
• MOUNT HOREB, WI 53572 (location) — Business and Mail Address
• 608 424-1544 (phone_number) — Business Phone

FAQ

Filing Documents

• dlth-20240728x10q.htm (10-Q) — 3062KB
• dlth-20240728xex10_2.htm (EX-10.2) — 13KB
• dlth-20240728xex10_3.htm (EX-10.3) — 15KB
• dlth-20240728xex31_1.htm (EX-31.1) — 11KB
• dlth-20240728xex31_2.htm (EX-31.2) — 11KB
• dlth-20240728xex32_1.htm (EX-32.1) — 10KB
• dlth-20240728xex32_2.htm (EX-32.2) — 9KB
• 0001649744-24-000015.txt ( ) — 10851KB
• dlth-20240728.xsd (EX-101.SCH) — 40KB
• dlth-20240728_cal.xml (EX-101.CAL) — 86KB
• dlth-20240728_def.xml (EX-101.DEF) — 140KB
• dlth-20240728_lab.xml (EX-101.LAB) — 444KB
• dlth-20240728_pre.xml (EX-101.PRE) — 313KB
• dlth-20240728x10q_htm.xml (XML) — 2331KB

—Financial Information

Part I—Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of July 28, 2024 and January 28, 2024 (Unaudited) 3 Condensed Consolidated Statements of Operations for the three and six months ended July 28, 2024 and July 30, 2023 (Unaudited) 5 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and six months ended July 28, 2024 and July 30, 2023 (Unaudited) 6 Condensed Consolidated Statement of Shareholders' Equity for the three and six months ended July 28, 2024 (Unaudited) 7 Condensed Consolidated Statement of Shareholders' Equity for the three and six months ended July 30, 2023 (Unaudited) 8 Condensed Consolidated Statements of Cash Flows for the six months ended July 28, 2024 and July 30, 2023 (Unaudited) 9 Notes to Condensed Consolidated Financial Statements (Unaudited) 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

—Other Information

Part II—Other Information Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 5. Other Information 29 Item 6. Exhibits 30

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements DULUTH HOLDINGS INC. Condensed Consolidated Balance Sheets - Assets (Unaudited) (Amounts in thousands) July 28, 2024 January 28, 2024 ASSETS Current Assets: Cash and cash equivalents $ 9,787 $ 32,157 Receivables 8,318 5,955 Income tax receivable 313 617 Inventory, less reserves of $ 1,047 and $ 1,361 , respectively 168,718 125,757 Prepaid expenses & other current assets 19,722 16,488 Total current assets 206,858 180,974 Property and equipment, net 121,148 132,718 Operating lease right-of-use assets 107,799 121,430 Finance lease right-of-use assets, net 34,646 40,315 Available-for-sale security 4,877 4,986 Other assets, net 8,961 9,020 Deferred tax assets 4,306 1,010 Total assets $ 488,595 $ 490,453 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 DULUTH HOLDINGS INC. Condensed Consolidated Balance Sheets – Liabilities and Shareholders' Equity (Unaudited) (Amounts in thousands) July 28, 2024 January 28, 2024 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 77,600 $ 51,122 Accrued expenses and other current liabilities 30,069 30,930 Current portion of operating lease liabilities 16,027 16,401 Current portion of finance lease liabilities 2,450 3,149 Duluth line of credit — — Current maturities of TRI long-term debt 888 847 Total current liabilities 127,034 102,449 Operating lease liabilities, less current maturities 92,275 106,413 Finance lease liabilities, less current maturities 31,911 34,276 TRI long-term debt, less current maturities 24,723 25,141 Total liabilities 275,943 268,279 Shareholders' equity: Preferred stock, no par value; 10,000 shares authorized; no shares issued or outstanding as of July 28, 2024 and January 28, 2024 — — Common stock (Class

View Full Filing

View this 10-Q filing on SEC EDGAR