Item 3. Legal Proceedings
ITEM 3.
LEGAL PROCEEDINGS
From time to time, we are subject to certain legal proceedings and claims in the ordinary course of business. We are not presently party to any legal proceedings the resolution of which we believe would have a material adverse effect on our business, financial condition, operating results or cash flows. We establish reserves for specific legal matters when we determine that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable.
ITEM 4.
MINE SAFETY DISCLOSURES
Not applicable .
25
Table of Contents
Information about our Executive Officers
The following is a list of names and ages of executive officers of Duluth Trading indicating all positions and offices held by each such person and each such person’s principal occupation(s) or employment during the past five years. Officers are appointed annually by the Board of Directors at the meeting of directors immediately following the annual meeting of shareholders. There are no family relationships among any officers or director, except as disclosed below, or arrangements or understandings between any officer and any other person pursuant to which the officer was selected. The information presented below is as of March 21, 2025.
Name
Age
Office
Stephen L. Schlecht
77
Mr. Schlecht is the founder of our Company and has served as Chairman of the Board of Directors and Senior Advisor since May 2021. Mr. Schlecht has served on our Board of Directors since our founding in 1986. Mr. Schlecht previously served as Executive Chairman from February 2015 to May 2021, and as Chief Executive Officer from August 2019 to May 2021. Prior to that, Mr. Schlecht served as Chairman of the Board of Directors and Chief Executive Officer from February 2003 to February 2015 and as President from February 2003 to February 2012. He also served as President and Chief Executive Officer of GEMPLER’S, Inc., which he founded in 1986, until February 2003. Mr. Schlecht holds a B.S.B.A. degree and an M.B.A. from Northwestern University.
As previously announced, the Board of Directors of the Company appointed Mr. Schlecht as Interim Chief Executive Officer of the Company in addition to his role as Senior Advisor to the Company, effective April 25, 2025, unless the Board appoints a permanent Chief Executive Officer prior to such date. During the transition period between the announcement of Mr. Sato’s retirement and April 25, 2025, Mr. Schlecht will assume day-to-day leadership of the Company.
Samuel M. Sato
61
Mr. Sato was appointed to our Board of Directors in May 2021, and since that time has served as President and Chief Executive Officer. He previously served as the Chief Executive Officer of The Finish Line, Inc., from February 2016 to February 2019, and also served on the Board of Directors of The Finish Line, Inc. from October 2014 to February 2019. Mr. Sato previously served as President of The Finish Line, Inc. from October 2014 to February 2016, President, Finish Line Brand, from October 2012 to October 2014, and President and Chief Merchandising Officer from October 2010 to September 2012, as well as The Finish Line, Inc.’s Executive Vice President, Chief Merchandising Officer from to March 2007 to October 2010. Mr. Sato began his career in 1985 at Nordstrom Inc., where he held various leadership roles within merchandising. Mr. Sato has been involved in the retail industry for over 30 years.
Heena K. Agrawal
49
Ms. Agrawal has served as our Senior Vice President and Chief Financial Officer since February 2024. Ms. Agrawal previously served as the Chief Financial Officer, Global Wrangler and Global Kontoor Supply Chain of Kontoor Brands, Inc. from January 2023 to January 2024, and Chief Financial Officer of Global Wrangler from September 2021 to January 2024. Prior to that, Ms. Agrawal served as the Global Segment Chief Financial Officer, Industrial Segment for Underwriters Laboratories from February 2021 to September 2021, and Connected Technology Appliances & Lighting Global Division Chief Financial Officer for Underwriters Laboratories from October 2019 to February 2021, as well as various leadership positions at Walgreens Boots Alliance from January 2012 to September 2019, most recently serving as Synergy Leader M&A Integration: Rite Aid from 2018 to September 2019 and at Procter & Gamble from 2001 to 2011. Ms. Agrawal holds a Bachelor of Commerce, Accounting, and Taxation degree from Narsee Monjee College of Commerce and Economics, an M.B.A. from the Kelley School of Business at Indiana University, CPA (inactive), and is a CFA charter holder.
Eli M. Getson
54
Mr. Getson has served as our Senior Vice President and Chief Merchandising Officer since August 2024. From December 2016 through April 2024, Mr. Getson served as Senior Vice President and General Merchandise Manager at Academy Sports and Outdoors, a retailer of trending outdoor and sports categories. From June 2010 through November 2016, Mr. Getson served as Executive Vice President and General Merchandise Manager at Golfsmith International. Prior to that, Mr. Getson served in various roles at Cabela’s, Bon-Ton Corporation, Perry Ellis International, and Polo Ralph Lauren.
26
Table of Contents
David S. Homolka
58
Mr. Homolka has served as our Senior Vice President of Talent, Retail Store Operations, Contact Center Operations, Asset Protection & Safety since February 2020 and previously served as our Vice President of Human Resources, Store Operations and Asset Protection from January 2019 to February 2020, and Vice President of Human Resources from February 2017 to January 2019. Mr. Homolka previously served as Chief Property and Design Officer and Vice President of Real Estate, Store Design and Construction at Cabela’s from October 2015 to February 2017 and Vice President of Human Resources and Asset Protection from January 2012 to October 2015.
Richard W. Schlecht
44
Mr. Schlecht has served as our Senior Vice President of Product Development and Sourcing since October 2023, and has previously served as our Senior Vice President of Product, Merchandise and Inventory from March 2022 to October 2023, Senior Vice President of Product, Visual and Creative from February 2020 to March 2022, Vice President of Product Development from March 2016 to February 2020 and Director of Product Development from September 2013 to March 2016. Mr. Schlecht holds a BSBA degree with a minor in Statistics from Denver University. Mr. Schlecht is the son of Stephen L. Schlecht, the Chairman of the Board of Directors of Duluth Holdings Inc.
Albert J. Sutera
59
Mr. Sutera has served as our Senior Vice President, Chief Technology Officer and Logistics since August 2022. He previously served as US Chief Technology & Operations Officer of Signa Sports United from January 2022 to August 2022, as Executive Vice President/Chief Technology & Information Officer of JD Sports Fashion from March 2016 to August 2021, as Senior Vice President/CTO for Hudson Bay Corporation from November 2013 to February 2016 and as Senior Vice President of Digital Technology & Operations of Saks Fifth Avenue from March 2007 to November 2013. Mr. Sutera holds a B.S. in Finance and Accounting from Montclair State University and a Master’s Certificate in Computer Science and Project Management from Stevens Institute of Technology.
Garth N. Weber
55
Mr. Weber has served as our Senior Vice President of Brand and Marketing since August 2024, serving as caretaker of brand and marketing across all facets of the company. From July 2023 to August 2024, Mr. Weber served as our Vice President of Brand and Marketing, taking on successively greater responsibility of the company’s brand, marketing, and customer analytics functions. Prior to joining Duluth Trading, he served as Vice President of Brand and Creative at Wilson Sporting Goods from 2021 to 2023, a leading manufacturer and retailer in high-performance sports equipment, apparel, footwear and accessories. Previously, he spent nearly 5 years at adidas as Senior Director of Global Brand Design. Mr. Weber earned a Bachelor of Arts degree in Philosophy from Wheaton College and a Master of Fine Arts degree in Fiction from the State University of New York Brockport.
PART II