Duluth Holdings Q4 net loss $5.6M; CEO Sato retiring, founder Schlecht appointed interim CEO

DULUTH HOLDINGS INC.

2024-FY EPS reported -$1.31 revenue$626,629,000

Q4 net sales $241.3M (-1.8% YoY); net loss $5.6M vs net income $6.8M prior year; EPS ($0.17), adjusted EPS ($0.04).
Adjusted EBITDA $8.5M in Q4 vs $20.9M prior year; full-year net loss $43.6M, adjusted net loss $23.6M.
FY2025 guidance: net sales $570-595M, adjusted EBITDA $20-25M, capex ~$20M; below prior year.
CEO Sam Sato retiring effective April 25, 2025; founder Stephen L. Schlecht named Interim CEO; search for permanent CEO underway.
Cash $3.3M, no bank debt; total liquidity $103.3M; FY2024 capex $17.4M.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Samuel M. Sato

President and Chief Executive Officer

DLTH · DULUTH HOLDINGS INC.

Effective: 2025-04-25
Successor: Stephen L. Schlecht
Filed: March 13, 2025, 7:59 PM ET

On March 11, 2025, Mr. Samuel M. Sato informed the Company that he is retiring as President and Chief Executive Officer and as a member of the Board of Directors (the “Board”), with such retirement to be effective on April 25, 2025.

Appointed (interim)

Stephen L. Schlecht

Interim Chief Executive Officer

DLTH · DULUTH HOLDINGS INC.

Effective: 2025-04-25
Filed: March 13, 2025, 7:59 PM ET

The Board appointed Mr. Stephen L. Schlecht as Interim Chief Executive Officer of the Company in addition to his role as Senior Advisor to the Company, effective April 25, 2025

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Samuel M. Sato departed as President and Chief Executive Officer at DULUTH HOLDINGS INC..

Action: retiring
Role: President and Chief Executive Officer

Exact text from the filing

On March 11, 2025, Mr. Samuel M. Sato informed the Company that he is retiring as President and Chief Executive Officer and as a member of the Board of Directors (the “Board”), with such retirement to be effective on April 25, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen L. Schlecht was appointed as Interim Chief Executive Officer at DULUTH HOLDINGS INC..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

The Board appointed Mr. Stephen L. Schlecht as Interim Chief Executive Officer of the Company in addition to his role as Senior Advisor to the Company, effective April 25, 2025

View on SEC.gov

DULUTH HOLDINGS INC. filing history →

Source: SEC EDGAR

accession 0001193125-25-053424

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