DULUTH HOLDINGS INC. Segments Disclosure
As of February 2, 2025 and January 28, 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. Our CODM is our Chief Executive Officer and the CODM receives discrete financial information for the Company’s gross margin and a summarized comprehensive statement of income monthly that categorizes selling, general and administrative expenses into four line items with remaining expenses and expenditures for long-lived assets being consolidated as an omnichannel business.
The following table summarizes the Company’s gross margin and selling, general and administrative expenses.
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| Fiscal Year Ended | ||||
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| February 2, 2025 |
| January 28, 2024 | ||
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| (53 weeks) |
| (52 weeks) | ||
(in thousands) |
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Net sales |
| $ | 626,629 |
| $ | 646,681 |
Cost of goods sold |
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| 318,119 |
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| 321,710 |
Gross margin |
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| 308,510 |
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| 324,971 |
Less: |
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Outbound shipping expenses |
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| 43,664 |
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| 47,185 |
Advertising expenses |
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| 67,518 |
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| 69,049 |
Variable expenses |
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| 56,055 |
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| 58,049 |
Overhead expenses |
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| 178,134 |
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| 160,257 |
Total selling, general and administrative |
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| 345,371 |
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| 334,540 |
Operating loss |
| $ | (36,861) |
| $ | (9,569) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 24, 2025 | Showing above |
| 2018 | Mar 21, 2018 | |
| 2016 | Apr 8, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.