Duluth Holdings Inc. · NASDAQ:DLTH
Duluth — Q4 2025 Earnings Presentation
17 slides from Duluth's earnings presentation, Mar 19, 2026
Slide 1: Investor Presentation Fourth Quarter 2025
Investor Presentation Fourth Quarter 2025 March 19, 2026
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer Forward-Looking Statements This investor presentation 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 statements concerning
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 release, including the tables attached hereto, reference i
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 Innovation Long, colorful history of product innovation and solution-based design Better Marketing Distinctive marketing made to break through the clutter and drive buying Better Customer Experiences Outstanding and engaging customer experience 6
Slide 7: Financial Review
FINANCIAL REVIEW
Slide 8: Year Ended February 1, 2026 Summary
Year Ended February 1, 2026 Summary: ● Net loss reduced to $16.2 million compared to a net loss of $43.6 million in the prior year. ● Reported EPS loss of $0.47; and adjusted EPS1 loss of $0.43 adjusted for restructuring and impairment expenses of $1.4 million, net of tax. ● Adjusted EBITDA2 increas
Slide 9: Three Months Ended February 1, 2026
Three Months Ended February 1, 2026 (10.5%) 7.4% 44.1% Margin 53.0% 3.5% Margin 8.1% (1.4%) Margin 3.7% Net Sales Gross Profit Adjusted EBITDA1,2 Adjusted Net Income / (Loss)3,4 ($ 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 1, 2026
Twelve Months Ended February 1, 2026 (9.8%) (2.2%) 49.2% Margin 53.4% 2.3% Margin 4.4% (5.6%) Margin (2.7%) Net Sales Gross Profit Adjusted EBITDA1,2 Adjusted Net Income / (Loss)3,4 ($ in millions) ($ in millions) ($ in millions) ($ in millions) 1 Adjusted to reflect the add-back of long-term incent
Slide 11: Balance Sheet, Liquidity and Free Cash Flow
Balance Sheet, Liquidity and Free Cash Flow Debt to Capital 1,2 Free Cash Flow3 ($ in millions) As of February 1, 2026 Cash and Cash Equivalents $16.3 Debt: Line of Credit $0.0 Term Loan $0.0 Total Debt $0.0 Total Shareholders’ Equity $166.1 Total Capitalization $182.4 Debt to Capital ratio 0.0% 1 D
Slide 12: Net Sales and Adjusted EBITDA
Net Sales and Adjusted EBITDA 1 Adjusted to reflect the add-back of long-term incentive, restructuring, and impairment expenses. 12
Slide 13: Capital Expenditures
Capital Expenditures Capital Expenditures ($ in millions) Initiatives 4 New Salt Lake 2 New Logistics Adairsville FC Stores City FC Stores Productivity 1 New Website Technology Roadmap Digital Store re-platform 13
Slide 14: Fiscal 2026 Outlook
Fiscal 2026 Outlook ($ in millions) 2025 2026 Guidance Reconciliation to 2026 Forecasted Adj. EBITDA ($ in millions) Net Sales $565.2 $540 to $560 Fiscal Year Ended January 31, 2027 Adj. EBITDA $24.9 $26 to $30 Forecasted ($ in millions) Low High CAPEX1 17.8 12.0 Net Loss $(11.8) $(7.5) (+) Deprecia
Slide 15: Thank You
THANK YOU
Slide 16: Reconciliation to 2025 Adjusted EBITDA and Free Cash Flow
Appendix Reconciliation to 2025 Adjusted EBITDA and Free Cash Flow Adjusted EBITDA Free Cash Flow Three Months Ended Twelve Months Ended Twelve Months Ended February February February February February 1, February 2, ($ in millions) ($ in millions) 1, 2026 2, 2025 1, 2026 2, 2025 2026 2025 Net cash
Slide 17: Reconciliation to 2025 Adjusted Net Income / (Loss)
Appendix Reconciliation to 2025 Adjusted Net Income / (Loss) Adjusted Net Income / (Loss) Three Months Ended Twelve Months Ended ($ in millions) February 1, 2026 February 2, 2025 February 1, 2026 February 2, 2025 Amount Per share Amount Per share Amount Per share Amount Per share Net Income / (Loss)