Duluth Trading reduced its workforce by 3% as part of cost-saving measures aimed at improving business focus.
Quiver AI Summary
Duluth Holdings Inc. announced a workforce reduction of 51 employees, representing 3% of its total workforce, as part of its expense savings initiatives aimed at optimizing the business. The reductions, which occurred on June 4, 2025, incurred costs of less than $1 million and are intended to simplify operations while enhancing brand awareness, product innovations, and customer service. The company, based in Mount Horeb, Wisconsin, positions itself as a lifestyle brand offering high-quality work and casual wear for a hands-on lifestyle, emphasizing unique marketing and a commitment to customer satisfaction through its "No Bull Guarantee."
Potential Positives
- The workforce reduction is part of a strategic plan to streamline operations and reduce complexities within the business.
- The total expenses related to the workforce reduction were under $1 million, indicating a financially manageable adjustment.
- This initiative allows Duluth Trading to increase its focus on brand awareness, product innovations, and enhancing customer service, potentially leading to future growth.
- The company emphasizes a commitment to outstanding customer service backed by its “No Bull Guarantee,” which reinforces customer trust and loyalty.
Potential Negatives
- Reduction of workforce by 51 employees, or 3% of total workforce, may signal underlying challenges within the company.
- Expense savings initiatives, while presented as a positive action, could indicate financial instability or the need to streamline operations for survival.
- Significant focus on expense reduction may detract from investment in growth initiatives, potentially impacting long-term brand and product innovation.
FAQ
What recent workforce changes did Duluth Trading Company announce?
Duluth Trading reduced its workforce by 51 employees, or 3%, as part of its expense savings initiatives on June 4, 2025.
How much will the workforce reduction cost Duluth Trading?
The expenses related to the workforce reduction were less than $1 million.
Why is Duluth Trading reducing its workforce?
The company aims to reduce complexity, increase brand awareness, and focus on product innovations and exceptional customer service.
Where is Duluth Trading Company located?
Duluth Trading Company is based in Mount Horeb, Wisconsin.
What is Duluth Trading's commitment to customer service?
The company offers a "No Bull Guarantee" ensuring customer satisfaction by fixing any issues with their products.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DLTH Insider Trading Activity
$DLTH insiders have traded $DLTH stock on the open market 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $DLTH stock by insiders over the last 6 months:
- BRETT LEE PASCHKE purchased 50,000 shares for an estimated $90,500
- HEENA AGRAWAL (Senior Vice President and CFO) purchased 9,000 shares for an estimated $16,560
- DAVID COLE FINCH purchased 5,000 shares for an estimated $9,491
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$DLTH Hedge Fund Activity
We have seen 10 institutional investors add shares of $DLTH stock to their portfolio, and 41 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MARSHALL WACE, LLP removed 250,960 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $775,466
- MILL ROAD CAPITAL MANAGEMENT LLC removed 93,019 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $287,428
- UBS GROUP AG removed 72,463 shares (-85.1%) from their portfolio in Q1 2025, for an estimated $126,085
- JANE STREET GROUP, LLC removed 39,286 shares (-59.8%) from their portfolio in Q1 2025, for an estimated $68,357
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 33,810 shares (-22.5%) from their portfolio in Q1 2025, for an estimated $58,829
- MILLENNIUM MANAGEMENT LLC removed 30,523 shares (-41.3%) from their portfolio in Q1 2025, for an estimated $53,110
- GOLDMAN SACHS GROUP INC added 29,521 shares (+50.8%) to their portfolio in Q1 2025, for an estimated $51,366
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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.
