Duluth Holdings, Inc. Class B (DLTH)

Duluth Holdings Inc. (DLTH) stock experienced significant volatility in the past six months. In the last week of October 2025, the company's stock plummeted by 13%, contributing to an estimated 83% loss over five years, triggering technical sell signals. This decline occurred despite a seemingly positive second-quarter 2025 earnings report released on September 4, 2025, where the company exceeded expectations. Insider trading activity during this period includes the CFO, Heena Agrawal, purchasing 10,000 shares on September 26, 2025, while there were insider selling activities in April and May 2025.

Duluth Holdings, Inc. experiences demand seasonality, with inventories, accounts payable, and borrowings under its revolving line of credit typically reaching their highest levels in October or November each year due to holiday sales. These levels then generally decline steadily during the holiday season, resulting in the company's cash typically reaching its highest level at that time. The company also observes a seasonal decline in sales from the fourth quarter to the first quarter of the following fiscal year.

Duluth Holdings, Inc. (DLTH), operating under the Duluth Trading Company brand, is a lifestyle brand specializing in men's and women's casual wear, workwear, outdoor apparel, and accessories. The company operates in the Consumer Discretionary sector, within the Apparel Retail, Textiles & Apparel, Internet Retail, and Specialty Retail industries. Duluth Holdings Inc. offers a wide range of products featuring proprietary designs and distinct names, marketed through its website, catalogs, customer contact centers, and retail stores.

Duluth Holdings, Inc. primarily operates in the United States, utilizing an omnichannel platform with a website, catalogs, and a network of over 60 retail stores and three outlet stores. In September 2023, Duluth Trading Company opened its fourth fulfillment center in Adairsville, Georgia, to enhance shipping times and support its retail footprint. While the company values American-made goods, the majority of its products are manufactured overseas in locations such as Vietnam, Indonesia, Cambodia, Hong Kong, China, Thailand, India, Colombia, Sri Lanka, Jordan, and Bangladesh.

In the past year, Duluth Trading Company's brand reputation has faced challenges, particularly concerning customer service and delivery. Customer reviews indicate a significant number of negative experiences, including difficulties in getting assistance, long waiting times, unhelpful responses from customer service, and frustration with contact methods. There are also mixed opinions regarding product quality, with some customers noting a decline over time. Specific events impacting reputation include issues with incorrect items being shipped, delays in processing orders, and problems with refunds.

The ownership structure of Duluth Holdings (DLTH) stock is a mix of institutional, retail, and individual investors. Major institutional owners include Dimensional Fund Advisors Lp, Madison Asset Management, LLC, Vanguard Group Inc, Tieton Capital Management, LLC, Tenzing Global Management, LLC, BlackRock, Inc., and Connor, Clark & Lunn Investment Management Ltd. Stephen L. Schlecht, the company's founder, is a significant individual owner. Insiders collectively own a substantial portion of the stock, and retail investors also hold a considerable percentage.