secwatch.observer — SEC 8-K summary
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Issuer:     DULUTH HOLDINGS INC. (DLTH)
CIK:        0001649744
Form:       8-K
Filed at:   2022-09-01T23:59:59+00:00
Accession:  0001649744-22-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Duluth Q2 net sales down 5.1% to $141.5M; adjusted EPS $0.07 vs $0.27 YoY; lowers FY guidance
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- Net sales of $141.5M vs $149.1M prior year (-5.1%); direct-to-consumer +0.1%, retail stores -12.0%.
- Net income of $2.4M ($0.07 diluted EPS) vs $9.0M ($0.27) last year; adjusted EBITDA $13.2M (9.4% of sales).
- Gross margin 53.4% (54.4% ex $1.3M inventory write-down from in-transit damage) vs 54.6% prior year.
- FY2022 outlook revised: net sales $680-$705M, EBITDA $69-$73M, EPS $0.61-$0.71 (from prior ranges not given).
- Inventory up 22% YoY to $164.5M; no outstanding bank debt; credit facility expanded to $200M through 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649744/000164974422000022/0001649744-22-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649744/000164974422000022/dlth-20220901x8k.htm
  HTML page:      https://secwatch.observer/filing/0001649744-22-000022

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