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Duluth Holdings Inc. Reduces Workforce by 3%

1. Duluth Trading cut 51 jobs, reducing workforce by 3%. 2. The cost of this reduction is below $1 million. 3. Expense reductions aim to simplify operations and boost brand focus. 4. Duluth Trading emphasizes strong customer service and product innovation. 5. Forward-looking statements indicate potential risks and uncertainties.

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FAQ

Why Bullish?

While job cuts may signal downsizing, the company's focus on efficiency and innovation could appeal to investors seeking a streamlined business model. Historically, similar cost-reduction strategies led to stock price rebounds.

How important is it?

The layoffs and expense savings are significant for investor confidence, impacting future profitability. A focus on customer service and innovation is favorable in the current market.

Why Short Term?

Immediate effects may be observed as the market reacts to cost-saving measures. Investor sentiment might improve quickly if the perceived benefits materialize.

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LULUUAACOLM
MOUNT HOREB, Wis., June 10, 2025 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading” or the “Company”) (NASDAQ: DLTH), a lifestyle brand of men’s and women’s workwear, casual wear, outdoor apparel, and accessories, announced that as part of its expense savings initiatives to rightsize the business, the Company reduced its workforce by 51 employees, or 3% of its total workforce, on June 4, 2025. The expenses related to the workforce reduction were less than $1 million. The Company’s expense savings actions are designed to reduce complexity in the business and increase the Company’s focus on brand awareness, solution-based product and product innovations, and exceptional customer service. About Duluth Trading Duluth Trading is a lifestyle brand for the Modern, Self-Reliant American. Based in Mount Horeb, Wisconsin, we offer high quality, solution-based casual wear, workwear, and accessories for men and women who lead a hands-on lifestyle and who value a job well-done. We provide our customers an engaging and entertaining experience. Our marketing incorporates humor and storytelling that conveys the uniqueness of our products in a distinctive, fun way, and are available through our content-rich website, catalogs, and “store like no other” retail locations. We are committed to outstanding customer service backed by our “No Bull Guarantee” - if it’s not right, we’ll fix it. Visit our website at http://www.duluthtrading.com. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are not historical facts, and are based upon Duluth Trading's current expectations, beliefs, estimates, and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond Duluth Trading's control. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the date the statements are made. Duluth Trading assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances or other changes affecting forward-looking information except to the extent required by applicable securities laws.

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