Duluth Holdings Inc. · NASDAQ:DLTH
Duluth — Q4 2024 Earnings Presentation
19 slides from Duluth's earnings presentation, Mar 13, 2025
Slide 1: Investor Presentation Fourth Quarter 2024
Exhibit 99.3 Investor Presentation Fourth Quarter 2024 March 13, 2025
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This presentation dated March 13, 2025 includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this press release, including statement
Slide 3: Disclaimer: Non-GAAP Measurements
Disclaimer Non-GAAP Measurements Management believes that non-GAAP financial measures may be useful in certain instances to provide additional meaningful comparisons between current results and results in prior operating periods. Within this presentation, reference is made to adjusted earnings befor
Slide 4: Introduction to Duluth Trading Co.
INTRODUCTION TO DULUTH TRADING CO.
Slide 5: Our Greater Purpose and Mission Statement
OUR GREATER PURPOSE “Celebrating the can-do spirit by enabling anyone who takes on life with their own two hands.” OUR MISSION STATEMENT “We build high-quality, solution-based products for work, play and every day. We craft our raw materials – unique brands, durable products, standout customer servi
Slide 6: Secret Sauce
Secret Sauce Better Brands A brood of sub-brands all bonded by the belief that you can accomplish anything that you put your own mind and own two hands to Better Innovation Long, colorful history of product innovation and solution-based design Better Marketing Distinctive marketing made to break thr
Slide 7: Financial Review
FINANCIAL REVIEW ; ZA IL | wee
Slide 8: Year Ended February 2, 2025 Summary
Year Ended February 2, 2025 Summary ● Net sales of $626.6 million compared to $646.7 million in the prior year ● Net loss of $43.6 million and adjusted net 1 loss of $23.6 million, compared to net loss of $9.9 million in prior-year. ○ Adjusted net loss of $23.6 million excludes $7.7 million of restr
Slide 9: Three Months Ended February 2, 2025
44.1% 8.5% 3.5% 2.8% (0.6%) Three Months Ended February 2, 2025 (1.8%) (10.1%) (59.1%) Margin Margin Margin 48.2% 1,2 3,4 Net Sales Gross Profit Adjusted EBITDA Adjusted Net Loss ($ in millions) ($ in millions) ($ in millions) ($ in millions) 1 Adjusted to reflect the add-back of long-term incentive
Slide 10: Twelve Months Ended February 2, 2025
49.2% 5.1% 2.3% (1.5)% (3.8)% Twelve Months Ended February 2, 2025 (3.1%) (5.1%) (55.2)% Margin Margin Margin 50.3% 1,2 3,4 Net Sales Gross Profit Adjusted EBITDA Adjusted Net Loss ($ in millions) ($ in millions) ($ in millions) ($ in millions) 1 Adjusted to reflect the add-back of long-term incenti
Slide 11: Strong Balance Sheet, Liquidity and Free Cash Flow
Strong Balance Sheet, Liquidity and Free Cash Flow 1,2 3 Debt to Capital Free Cash Flow (Full Year Ended) ($ in millions) As of February 2, 2025 Cash $3.3 Debt: Line of Credit $0.0 Term Loan $0.0 Total Debt $0.0 Total Shareholders’ Equity $182.7 Total Capitalization $186.0 Debt to Capital ratio 0.0%
Slide 12: Fiscal 2025 Financial Guidance
Fiscal 2025 Financial Guidance ($ in millions) 2024 2025 Guidance Reconciliation to 2025 Forecasted Adj. EBITDA Fiscal Year Ended February 1, 2026 Net $626.6 $570 to $595 (9.0)% to (5.0)% Sales Forecasted ($ in millions) Low High Net Loss $(26.8) $(21.5) (+) Depreciation and amortization 30.3 30.3 A
Slide 13: Net Sales and Adjusted EBITDA
Net Sales and Adjusted EBITDA 1 Adjusted to reflect the add-back of long-term incentive, restructuring, and impairment expenses. 13
Slide 14: Capital Expenditures
Capital Expenditures 4 New Salt Lake 15 New 2 New Adairsville FC Stores Stores City FC Stores 1 New Website Technology Roadmap Store re-platform 14 Initiatives Capital Expenditures ($ in millions)
Slide 15: Big Dam Blueprint
BG DAM BLUEPRINT
Slide 16: Big Dam Blueprint Growth Drivers
Big Dam Blueprint Growth Drivers 1. Lead With a Digital Mindset 2. Intensify Our Efforts to Optimize Our Owned DTC Channels 3. Evolve the Company’s Platform to Grow Into a Multi-brand and Multi-channel Business 4. Prioritize Test and Learn to Unlock Long-term Growth 5. Future Proof the Business Thro
Slide 17: a O > < =z < a5 -
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Slide 18: Reconciliation to 2024 Adjusted EBITDA and Free Cash Flow
Appendix Reconciliation to 2024 Adjusted EBITDA and Free Cash Flow Adjusted EBITDA Free Cash Flow 3 Months Ended 12 Months Ended 12 Months Ended Feb 2, Jan 28, Feb 2, Jan 28, Feb 2, Jan 28, ($ in millions) ($ in millions) 2025 2024 2025 2024 2025 2024 Net cash used in operating Net loss $(5.6) $6.8
Slide 19: Reconciliation to 2024 Adjusted Net Loss
Appendix Reconciliation to 2024 Adjusted Net Loss Adjusted Net Loss 3 Months Ended 12 Months Ended ($ in millions) Feb 2, 2025 Feb 2, 2025 Amount Per share Amount Per share Net loss $(5.6) $(0.17) $(43.7) $(1.31) (+) Restructuring expenses — — 7.7 0.23 (+) Impairment expenses 3.0 0.09 3.0 0.09 Incom