3 unchanged sentences
(Amounts in thousands)
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
14 unchanged sentences
(Amounts in thousands)
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
17 unchanged sentences
10,000 shares authorized;
−Removed: issued or outstanding as of August 3, 2025 and February 2, 2025
+Added: issued or outstanding as of November 2, 2025 and February 2, 2025
Common stock (Class A), no par value;
10,000 shares authorized;
−Removed: issued and outstanding as of August 3, 2025 and February 2, 2025
+Added: issued and outstanding as of November 2, 2025 and February 2, 2025
Common stock (Class B), no par value;
200,000 shares authorized;
−Removed: 33,782 shares issued and 33,312 shares outstanding as of August 3, 2025 and
+Added: 33,800 shares issued and 33,330 shares outstanding as of November 2, 2025 and
32,077 shares issued and 31,813 shares outstanding as of February 2, 2025
Treasury stock, at cost;
−Removed: 470 and 264 shares as of August 3, 2025 and
+Added: 470 and 264 shares as of November 2, 2025 and
February 2, 2025, respectively
11 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
Cost of goods sold (excluding depreciation and amortization)
1 unchanged sentence
Restructuring expense
−Removed: Operating income (loss)
+Added: Operating loss
Interest expense
Other (loss) income, net
−Removed: Income (loss) before income taxes
−Removed: Income tax (benefit) expense
−Removed: Net income (loss)
+Added: Loss before income taxes
+Added: Income tax expense
Net income attributable to noncontrolling interest
−Removed: Net income (loss) attributable to controlling interest
+Added: Net loss attributable to controlling interest
Basic earnings per share (Class A and Class B):
Weighted average shares of common stock outstanding
−Removed: Net income (loss) per share attributable to controlling interest
+Added: Net loss per share attributable to controlling
Diluted earnings per share (Class A and Class B):
Weighted average shares and equivalents outstanding
−Removed: Net income (loss) per share attributable to controlling interest
+Added: Net loss per share attributable to controlling
The accompanying notes are an integral part of these condensed consolidated financial statements.
3 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: Net income (loss)
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
Other comprehensive loss
Securities available-for sale:
−Removed: Unrealized security gain (loss) arising during the period
−Removed: Income tax expense (benefit)
−Removed: Other comprehensive income (loss)
−Removed: Comprehensive income (loss)
+Added: Unrealized security gain arising during the period
+Added: Income tax expense
+Added: Other comprehensive income
+Added: Comprehensive loss
Comprehensive income attributable to noncontrolling interest
−Removed: Comprehensive income (loss) attributable
−Removed: to controlling interest
+Added: Comprehensive loss attributable to controlling
The accompanying notes are an integral part of these condensed consolidated financial statements.
2 unchanged sentences
(Amounts in thousands)
−Removed: Six Months Ended August 3, 2025
+Added: Nine Months Ended November 2, 2025
Noncontrolling
8 unchanged sentences
Restricted stock forfeitures
−Removed: Restricted stock surrendered for taxes
−Removed: Other comprehensive loss
+Added: Restricted stock surrendered for
+Added: Other comprehensive income
Net (loss) income
3 unchanged sentences
Restricted stock forfeitures
−Removed: Restricted stock surrendered for taxes
+Added: Restricted stock surrendered for
Other comprehensive income
Balance at August 3, 2025
+Added: Issuance of common stock
+Added: Stock-based compensation
+Added: Restricted stock forfeitures
+Added: Restricted stock surrendered for taxes
+Added: Other comprehensive income
+Added: Net (loss) income
+Added: Balance at November 2, 2025
The accompanying notes are an integral part of these condensed consolidated financial statements.
2 unchanged sentences
(Amounts in thousands)
−Removed: Six Months Ended July 28, 2024
+Added: Nine Months Ended October 27, 2024
Noncontrolling
7 unchanged sentences
Restricted stock forfeitures
−Removed: Restricted stock surrendered for taxes
+Added: Restricted stock surrendered for
Other comprehensive income
+Added: Net (loss) income
Balance at April 28, 2024
2 unchanged sentences
Restricted stock forfeitures
−Removed: Restricted stock surrendered for taxes
+Added: Restricted stock surrendered for
Other comprehensive income
+Added: Net loss (income)
Balance at July 28, 2024
+Added: Issuance of common stock
+Added: Stock-based compensation
+Added: Restricted stock forfeitures
+Added: Restricted stock surrendered for taxes
+Added: Other comprehensive loss
+Added: Net (loss) income
+Added: Balance at October 27, 2024
The accompanying notes are an integral part of these condensed consolidated financial statements.
2 unchanged sentences
(Amounts in thousands)
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
Cash flows from operating activities:
23 unchanged sentences
Payments of tax withholding on vested restricted shares
−Removed: Net cash provided by (used in) financing activities
+Added: Net cash provided by financing activities
Increase (decrease) in cash and cash equivalents
31 unchanged sentences
Fiscal 2024 was a 53-week period and ended on February 2, 2025.
−Removed: The three and six months of fiscal 2025 and fiscal 2024 represent the Company’s 13-week and 26-week periods ended August 3, 2025 and July 28, 2024, respectively.
−Removed: The accompanying condensed consolidated financial statements as of and for the three and six months ended August 3, 2025 and July 28, 2024 have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include all adjustments (which are normal and recurring in nature) necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented.
+Added: The three and nine months of fiscal 2025 and fiscal 2024 represent the Company’s 13-week and 39-week periods ended November 2, 2025 and October 27, 2024, respectively.
+Added: The accompanying condensed consolidated financial statements as of and for the three and nine months ended November 2, 2025 and October 27, 2024 have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include all adjustments (which are normal and recurring in nature) necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented.
Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S.
−Removed: GAAP have been condensed or omitted pursuant to such SEC rules and regulations as of and for the three and six months ended August 3, 2025 and July 28, 2024.
+Added: GAAP have been condensed or omitted pursuant to such SEC rules and regulations as of and for the three and nine months ended November 2, 2025 and October 27, 2024.
These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s annual report on Form 10-K for the fiscal year ended February 2, 2025.
1 unchanged sentence
The Company records an inventory reserve for the anticipated loss associated with selling inventories below cost.
−Removed: Inventory reserve for excess and obsolete items was $ 3.7 million and $ 2.1 million as of August 3, 2025 and February 2, 2025, respectively.
+Added: Inventory reserve for excess and obsolete items was $ 4.5 million and $ 2.1 million as of November 2, 2025 and February 2, 2025, respectively.
DULUTH HOLDINGS INC.
2 unchanged sentences
Prepaid expenses and other assets consist of the following:
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
18 unchanged sentences
There have been no significant changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the year ended February 2, 2025.
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
Based on the criteria set forth in ASC Topic 842, Leases (“ASC 842”), the Company recognizes right-of-use (ROU) assets and lease liabilities related to leases on the Company’s consolidated balance sheets.
12 unchanged sentences
The Company accounts for these costs as variable payments and does not include such costs as a lease component.
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
The expense components of the Company’s leases reflected on the Company’s consolidated statement of operations were as follows:
1 unchanged sentence
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
of Operations
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands)
Finance lease expenses
−Removed: Amortization of right-of-use
+Added: Amortization of right-of-
Selling, general and
6 unchanged sentences
administrative expenses
−Removed: Amortization of build-to-suit
−Removed: leases capital contribution
+Added: Amortization of build-to-
+Added: suit leases capital
Selling, general and
4 unchanged sentences
Total lease expense
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
Other information related to leases were as follows:
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands)
11 unchanged sentences
Operating leases
−Removed: Future minimum lease payments under the non-cancellable leases are as follows as of August 3, 2025:
+Added: Future minimum lease payments under the non-cancellable leases are as follows as of November 2, 2025:
(in thousands)
7 unchanged sentences
Debt consists of the following:
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
46 unchanged sentences
The Company believes the New Credit Agreement will provide the Company with flexibility and liquidity to finance seasonal inventory builds.
−Removed: On July 16, 2025, the Company entered into the First Amendment to the New Credit Agreement where all revolving credit loans advanced or prepaid pursuant to such Sweep to Loan Arrangement shall bear interest based on the Base Rate.
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
+Added: On July 16, 2025, the Company entered into the First Amendment to the New Credit Agreement, pursuant to which all revolving credit loans advanced or prepaid pursuant to such Sweep to Loan Arrangement shall bear interest based on the Base Rate.
+Added: On October 1, 2025, the Company entered into the Second Amendment to the New Credit Agreement, which, among other things, (i) temporarily increases the aggregate revolving credit commitment under the Credit Agreement from $ 100 million to $ 125 million, as allowed by the existing New Credit Agreement, beginning on October 1, 2025 until March 31, 2026 , as of which date the revolving credit commitment will return to $ 100 million and (ii) permits the Company to request a second increase in the revolving credit commitment of $ 25 million during the term of the New Credit Agreement after March 31, 2026 with the consent of the Administrative Agent, subject to credit approval of the Lenders and satisfaction of certain conditions.
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued expenses and other current liabilities consist of the following:
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
6 unchanged sentences
Total accrued expenses and other current liabilities
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., an exit price).
9 unchanged sentences
Treasury yield curve, credit information and an estimate of future cash flows.
−Removed: During the six months ended August 3, 2025, certain changes in the inputs did impact the fair value of the available-for-sale security.
+Added: During the nine months ended November 2, 2025, certain changes in the inputs did impact the fair value of the available-for-sale security.
The calculated fair value is based on estimates that are subjective in nature and involve uncertainties and matters of significant judgement and, therefore, cannot be determined with precision.
1 unchanged sentence
The amortized cost and fair value of the Company’s available-for-sale security and the corresponding amount of gross unrealized gains and losses recognized in accumulated other comprehensive income are as follows:
−Removed: August 3, 2025
+Added: November 2, 2025
(in thousands)
1 unchanged sentence
Corporate trust
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
February 2, 2025
4 unchanged sentences
The Company reviews its securities on a quarterly basis to monitor its exposure to other-than-temporary impairment.
−Removed: No other-than-temporary impairment was recorded in the unaudited condensed consolidated statements of operations for the three months ended August 3, 2025 or July 28, 2024 .
−Removed: The following table presents future principal receipts related to the Company’s available-for-sale security by contractual maturity as of August 3, 2025.
+Added: No other-than-temporary impairment was recorded in the unaudited condensed consolidated statements of operations for the three months ended November 2, 2025 or October 27, 2024.
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
+Added: The following table presents future principal receipts related to the Company’s available-for-sale security by contractual maturity as of November 2, 2025.
(in thousands)
4 unchanged sentences
The carrying values and fair values of other financial instruments in the Consolidated Balance Sheets are as follows:
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
10 unchanged sentences
and (b) the obligation to absorb the VIE losses and the right to receive benefits that are significant to the VIE.
−Removed: The Company has determined that it was the primary beneficiary of one VIE as of August 3, 2025 and February 2, 2025.
+Added: The Company has determined that it was the primary beneficiary of one VIE as of November 2, 2025 and February 2, 2025.
The Company leases the Company’s headquarters in Mt.
3 unchanged sentences
The Company considers itself the primary beneficiary for TRI as the Company has both the power to direct the activities that most significantly impact the entity’s economic performance and is expected to receive benefits that are significant to TRI.
−Removed: As the Company is the
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
−Removed: primary beneficiary, it consolidates TRI and the lease is eliminated in consolidation.
+Added: As the Company is the primary beneficiary, it consolidates TRI and the lease is eliminated in consolidation.
The Company does not consolidate the trust as the Company is not the primary beneficiary.
−Removed: The condensed consolidated balance sheets include the following amounts as a result of the consolidation of TRI as of August 3, 2025 and February 2, 2025:
−Removed: August 3, 2025
+Added: The condensed consolidated balance sheets include the following amounts as a result of the consolidation of TRI as of November 2, 2025 and February 2, 2025:
+Added: November 2, 2025
February 2, 2025
6 unchanged sentences
Total liabilities and shareholders' equity
−Removed: EARNINGS (LOSS) PER SHARE
+Added: LOSS PER SHARE
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
Earnings per share is computed under the provisions of ASC 260 , Earnings Per Share .
4 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands, except per share data)
5 unchanged sentences
Earnings (loss) per share (Class A and Class B)
−Removed: The computation of diluted loss per share excluded ( 0.4 ) million of unvested restricted stock for the three months ended July 28, 2024, because their inclusion would be anti-dilutive due to a net loss.
−Removed: The computation of diluted loss per share excluded ( 0.2 ) million and ( 0.0 ) million of unvested restricted stock for the six months ended August 3, 2025 and July 28, 2024, because their inclusion would be anti-dilutive due to a net loss.
+Added: The computation of diluted loss per share excluded 0.9 million and ( 0.3 ) million of unvested restricted stock for the three months ended November 2, 2025 and October 27, 2024, respectively, because their inclusion would be anti-dilutive due to a net loss.
+Added: The computation of diluted loss per share excluded 0.4 million and 0.0 million of unvested restricted stock for the nine months ended November 2, 2025 and October 27, 2024, because their inclusion would be anti-dilutive due to a net loss.
STOCK-BASED COMPENSATION
The Company accounts for its stock-based compensation plan in accordance with ASC 718, Stock Compensation , which requires the Company to measure all share-based payments at grant date fair value and recognize the cost over the requisite service period of the award.
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
−Removed: Total stock compensation expense associated with restricted stock recognized by the Company was $ 1.1 million and $ 1.3 million for the three and six months ended August 3, 2025 respectively.
+Added: Total stock compensation expense associated with restricted stock recognized by the Company was $ 0.5 million and $ 1.9 million for the three and nine months ended November 2, 2025 respectively.
The Company’s total stock compensation expense is included in selling, general and administrative expenses on the Condensed Consolidated Statements of Operations.
−Removed: A summary of the activity in the Company’s unvested restricted stock during the six months ended August 3, 2025 is as follows:
+Added: A summary of the activity in the Company’s unvested restricted stock during the nine months ended November 2, 2025 is as follows:
Outstanding at February 2, 2025
−Removed: ( 1,061,207 )
−Removed: ( 1,135,854 )
−Removed: Outstanding at August 3, 2025
−Removed: At August 3, 2025, the Company had unrecognized compensation expense of $ 4.6 million related to the restricted stock awards, which is expected to be recognized over a weighted average period of 2.5 years.
+Added: Outstanding at November 2, 2025
+Added: At November 2, 2025, the Company had unrecognized compensation expense of $ 4.0 million related to the restricted stock awards, which is expected to be recognized over a weighted average period of 2.3 years.
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
PROPERTY AND EQUIPMENT
Property and equipment consist of the following:
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
14 unchanged sentences
Sales disaggregated based upon sales channel is presented below.
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
Three Months Ended
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands)
6 unchanged sentences
Contract assets and liabilities on the Company’s consolidated balance sheets are presented in the following table:
−Removed: August 3, 2025
+Added: November 2, 2025
February 2, 2025
4 unchanged sentences
The Company does not record breakage revenue when escheat liability to the relevant jurisdictions exists.
−Removed: Gift card breakage is recorded within Net sales on the Company’s consolidated statement of operations.
−Removed: The following table provides the reconciliation of the contract liability related to gift cards for the six months ended:
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Gift card breakage is recorded within Net sales on the Company’s consolidated
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
+Added: statement of operations.
+Added: The following table provides the reconciliation of the contract liability related to gift cards for the nine months ended:
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands)
5 unchanged sentences
The Company’s provision for income taxes during the interim reporting periods has historically been calculated by applying an estimate of the annual effective tax rate for the full year to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period.
−Removed: The effective tax rate related to controlling interest was ( 6 %) and 21 % for the six months ended August 3, 2025 and July 28, 2024, respectively.
+Added: The effective tax rate related to controlling interest was ( 3.6 %) and ( 6.6 %) for the nine months ended November 2, 2025 and October 27, 2024, respectively.
The income from TRI was excluded from the calculation of the Company’s effective tax rate, as TRI is a limited liability company and not subject to income tax.
−Removed: The effective tax rate fluctuated significantly year over year primarily due to the Company having established a valuation allowance on its deferred tax assets during the third quarter of the year ended February 2, 2025.
−Removed: The Company maintains a valuation allowance against its deferred tax assets as of the six months period ended August 3, 2025.
+Added: The Company maintains a valuation allowance against its deferred tax assets as of the nine months period ended November 2, 2025.
On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law in the United States which permanently extends select expiring provisions of the Tax Cuts and Jobs Act.
−Removed: We’ve considered the impact of the OBBBA on the Company’s annual effective tax rate.
+Added: We have considered the impact of the OBBBA on the Company’s annual effective tax rate.
The changes did not have a significant impact to the annual effective tax rate.
+Added: However, the enactment of the OBBBA introduced several significant tax law modifications that, while not affecting the annual effective tax rate, do have other implications for the Company.
+Added: The OBBBA makes permanent key elements of the 2017 Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing pursuant to IRC 174, and ability to deduct interest expense pursuant to IRC 163(j).
+Added: The Company is currently evaluating the future impact of OBBBA on its financial position, results of operations and cash flows.
DULUTH HOLDINGS INC.
Notes to Condensed Consolidated Financial Statements (Unaudited)
−Removed: the enactment of the OBBBA introduced several significant tax law modifications that, while not affecting the annual effective tax rate, do have other implications for the Company.
−Removed: The OBBBA makes permanent key elements of the 2017 Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing pursuant to IRC 174, and ability to deduct interest expense pursuant to IRC 163(j).
−Removed: The Company is currently evaluating the future impact of OBBA on its financial position, results of operations and cash flows.
SEGMENT REPORTING
−Removed: As of August 3, 2025 and July 28, 2024 , we had one reportable segment.
+Added: As of November 2, 2025 and October 27, 2024, we had one reportable segment.
The Company’s operating segment is based on how the Chief Operating Decision Maker (“CODM”) makes decisions about allocating resources and assessing performance.
2 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands)
9 unchanged sentences
Other (loss) income, net
−Removed: Income (loss) before income taxes
−Removed: Income tax (benefit) expense
−Removed: Net income (loss)
+Added: Loss before income taxes
+Added: Income tax expense
Net income attributable to noncontrolling interest
−Removed: Net income (loss) attributable to controlling interest
+Added: Net loss attributable to controlling interest
RESTRUCTURING
2 unchanged sentences
The amended lease accelerated the lease expiration date from September 30, 2030 to October 27, 2024 .
−Removed: The amended lease requires Duluth to pay an aggregate of $ 3.7 million (the “Termination Penalty”) in consideration of accelerating the lease termination date, which was paid in four equal quarterly installments from October 2024 through August 2025.
−Removed: The Company is amortized the loss from the Termination Penalty, as well as the net loss from writing off the right-of-use asset and lease liability over the modified remaining lease term.
−Removed: In addition, the Company is accelerating the depreciation of the non-transferrable fixed assets to have no remaining net book value by the modified lease expiration date.
−Removed: DULUTH HOLDINGS INC.
−Removed: Notes to Condensed Consolidated Financial Statements (Unaudited)
+Added: The amended lease required Duluth to pay an aggregate of $ 3.7 million (the “Termination Penalty”) in consideration of accelerating the lease termination date, which was paid in four equal quarterly installments from October 2024 through August 2025.
+Added: The Company amortized the loss from the Termination Penalty, as well as the net loss from writing off the right-of-use asset and lease liability over the modified remaining lease term.
+Added: In addition, the Company accelerated the depreciation of the non-transferrable fixed assets to have no remaining net book value by the modified lease expiration date.
Three Months Ended
−Removed: August 3, 2025
−Removed: July 28, 2024
+Added: Nine Months Ended
+Added: November 2, 2025
+Added: October 27, 2024
+Added: November 2, 2025
+Added: October 27, 2024
(in thousands)
5 unchanged sentences
Total restructuring expenses
+Added: DULUTH HOLDINGS INC.
+Added: Notes to Condensed Consolidated Financial Statements (Unaudited)
RECENT ACCOUNTING PRONOUNCEMENTS
−Removed: Recently Adopted Accounting Pronouncements
−Removed: Segment Reporting – Improvements to Reportable Segment Disclosures
−Removed: In November 2023, the FASB issued ASU No.
−Removed: 2023-07, “Segment Reporting:
−Removed: Improvements to Reportable Segment Disclosures.” This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses.
−Removed: In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements.
−Removed: The new guidance is effective for public companies with annual periods beginning after December 15, 2023, and interim periods within an annual period beginning after December 15, 2024, with early adoption permitted.
−Removed: The Company adopted ASU 2023-07 on January 29, 2024, the first day of the Company’s first quarter for the fiscal year ending February 2, 2025, the Company’s fiscal year 2024.
Recent Accounting Pronouncements Not Yet Adopted
12 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.