Cases
Duluth Holdings Inc. (DLTH)
Securities Class Action
Overview
Overview
- Date:
- 4/10/2019
- Company Name:
- Duluth Holdings Inc.
- Stock Symbol:
- DLTH
- Status:
- Closed/Complete
NEW YORK, April 10, 2019 – Bragar Eagel & Squire, P.C. is investigating potential claims against Duluth Holdings Inc. (NASDAQ: DLTH). Our investigation concerns whether Duluth has violated the federal securities laws and/or engaged in other unlawful business practices.
On April 4, 2019, Duluth issued a press release announcing its financial and operating results for the quarter and fiscal year ended February 3, 2019. For the quarter, Duluth reported net income of $20.8 million on revenue of $250.5 million for the quarter, and net income of $23.3 million on revenue of $568.1 million for the fiscal year. In addition, Duluth offered full-year 2019 earnings guidance in the range of $0.74 to $0.80 per share, on revenue of $645 million to $655 million. Explaining the foregoing results and projections, which fell significantly below analyst expectations, Duluth cited, in part “some challenges with systems implementation and late deliveries of product” and “inventory that was misaligned to the timing of sales and not distributed optimally throughout the network.”
On this news, Duluth’s share price fell by more than 25%, closing at $17.60 per share on April 5, 2019.
If you purchased or otherwise acquired Duluth shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On April 4, 2019, Duluth issued a press release announcing its financial and operating results for the quarter and fiscal year ended February 3, 2019. For the quarter, Duluth reported net income of $20.8 million on revenue of $250.5 million for the quarter, and net income of $23.3 million on revenue of $568.1 million for the fiscal year. In addition, Duluth offered full-year 2019 earnings guidance in the range of $0.74 to $0.80 per share, on revenue of $645 million to $655 million. Explaining the foregoing results and projections, which fell significantly below analyst expectations, Duluth cited, in part “some challenges with systems implementation and late deliveries of product” and “inventory that was misaligned to the timing of sales and not distributed optimally throughout the network.”
On this news, Duluth’s share price fell by more than 25%, closing at $17.60 per share on April 5, 2019.
If you purchased or otherwise acquired Duluth shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.