---
schema_version: "secwatch.filing_event.v1"
accession: "0001649744-23-000021"
form_type: "8-K"
ticker: "DLTH"
cik: "0001649744"
company_name: "DULUTH HOLDINGS INC."
filed_at: "2023-08-31T23:59:59+00:00"
generated_at: "2026-06-11T01:17:02.713303+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Duluth Q2 sales fall to $139.1M; margin down; CFO Loretta resigns; FY loss guidance

## Summary
- Net sales $139.1M, down 1.7% YoY; gross margin 51.4% vs 53.4% a year ago.
- Adjusted EBITDA $8.6M; full-year EPS guided ($0.15)-($0.08), reflecting a loss.
- Inventory down 4.5% YoY to $157.1M; new GA fulfillment center live ahead of schedule.
- CFO Dave Loretta resigns effective Sept 15, 2023; Michael Murphy named interim CFO.
- No outstanding revolver balance; liquidity of $211 million at quarter end.

## SEC filing metadata
- accession: 0001649744-23-000021
- form_type: 8-K
- ticker: DLTH
- cik: 0001649744
- company_name: DULUTH HOLDINGS INC.
- filed_at: 2023-08-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1649744/000164974423000021/0001649744-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1649744/000164974423000021/dlth-20230825x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001649744-23-000021
- JSON: https://secwatch.observer/filing/0001649744-23-000021.json
- Plain text: https://secwatch.observer/filing/0001649744-23-000021.txt

## Key facts
- Executive change
  Dave Loretta resigned as Senior Vice President and Chief Financial Officer at DULUTH HOLDINGS INC..
  - Action: resigned
  - Role: Senior Vice President and Chief Financial Officer
  source text: On August 25, 2023, Mr. Dave Loretta resigned as Senior Vice President and Chief Financial Officer of Duluth Holdings Inc. (the “Company”), along with all other positions he held at the Company, with such resignation to be effective on September 15, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649744/000164974423000021/0001649744-23-000021-index.htm
- Executive change
  Michael Murphy was appointed as Interim Chief Financial Officer at DULUTH HOLDINGS INC..
  - Action: appointed
  - Role: Interim Chief Financial Officer
  source text: Mr. Michael Murphy, VP, Chief Accounting Officer of the Company, will assume the role of Interim Chief Financial Officer of the Company, effective September 15, 2023, in addition to maintaining his duties as VP, Chief Accounting Officer of the Company, until the search process is completed.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1649744/000164974423000021/0001649744-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.