Duluth Holdings Inc. Files Q3 2024 10-Q

TL;DR

**DLTH Q3 10-Q FILED: Financials for period ending 10/27/24 are in. Check balance sheet details.**

AI Summary

Duluth Holdings Inc. filed its 10-Q for the period ending October 27, 2024. The filing details financial performance and position, including balance sheet items like retained earnings and treasury stock as of October 27, 2024, and comparative periods. The company operates in the retail apparel and accessory stores sector.

Why It Matters

This filing provides investors with a detailed look at Duluth Holdings' financial health and operational performance during the third quarter of fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational challenges.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter are not detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures for the quarter are not detailed in the provided snippet.)
• N/A — Total Assets (Specific total asset figures for the quarter are not detailed in the provided snippet.)

Key Players & Entities

• DULUTH HOLDINGS INC. (company) — Filer of the 10-Q
• 2024-10-27 (date) — End of the reporting period
• 2024-12-06 (date) — Date the filing was made
• 0001649744 (company) — Central Index Key for Duluth Holdings Inc.

FAQ

Filing Documents

• dlth-20241027x10q.htm (10-Q) — 3286KB
• dlth-20241027xex31_1.htm (EX-31.1) — 11KB
• dlth-20241027xex31_2.htm (EX-31.2) — 11KB
• dlth-20241027xex32_1.htm (EX-32.1) — 10KB
• dlth-20241027xex32_2.htm (EX-32.2) — 9KB
• 0001649744-24-000021.txt ( ) — 11214KB
• dlth-20241027.xsd (EX-101.SCH) — 40KB
• dlth-20241027_cal.xml (EX-101.CAL) — 87KB
• dlth-20241027_def.xml (EX-101.DEF) — 140KB
• dlth-20241027_lab.xml (EX-101.LAB) — 445KB
• dlth-20241027_pre.xml (EX-101.PRE) — 314KB
• dlth-20241027x10q_htm.xml (XML) — 2418KB

—Financial Information

Part I—Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of October 27, 2024 and January 28, 2024 (Unaudited) 3 Condensed Consolidated Statements of Operations for the three and nine months ended October 27, 2024 and October 29, 2023 (Unaudited) 5 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and nine months ended October 27, 2024 and October 29, 2023 (Unaudited) 6 Condensed Consolidated Statement of Shareholders' Equity for the three and nine months ended October 27, 2024 (Unaudited) 7 Condensed Consolidated Statement of Shareholders' Equity for the three and nine months ended October 29, 2023 (Unaudited) 8 Condensed Consolidated Statements of Cash Flows for the nine months ended October 27, 2024 and October 29, 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30

—Other Information

Part II—Other Information Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 31 Item 6. Exhibits 32

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements DULUTH HOLDINGS INC. Condensed Consolidated Balance Sheets - Assets (Unaudited) (Amounts in thousands) October 27, 2024 January 28, 2024 ASSETS Current Assets: Cash and cash equivalents $ 9,335 $ 32,157 Receivables 4,396 5,955 Income tax receivable 138 617 Inventory, less reserves of $ 1,558 and $ 1,361 , respectively 231,430 125,757 Prepaid expenses & other current assets 18,991 16,488 Total current assets 264,290 180,974 Property and equipment, net 116,941 132,718 Operating lease right-of-use assets 101,784 121,430 Finance lease right-of-use assets, net 33,802 40,315 Available-for-sale security 4,840 4,986 Other assets, net 11,442 9,020 Deferred tax assets — 1,010 Total assets $ 533,099 $ 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) October 27, 2024 January 28, 2024 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 104,546 $ 51,122 Accrued expenses and other current liabilities 36,252 30,930 Current portion of operating lease liabilities 15,439 16,401 Current portion of finance lease liabilities 2,502 3,149 Duluth line of credit 44,000 — Current maturities of TRI long-term debt 909 847 Total current liabilities 203,648 102,449 Operating lease liabilities, less current maturities 88,441 106,413 Finance lease liabilities, less current maturities 31,272 34,276 TRI long-term debt, less current maturities 24,510 25,141 Deferred tax liabilities 123 — Total liabilities 347,994 268,279 Shareholders' equity: Preferred stock, no par value; 10,000 shares authorized; no shares issued or outstanding as of October 27, 2024 an

View Full Filing

View this 10-Q filing on SEC EDGAR