NEW YORK, April 9, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Duluth Holdings Inc. ("Duluth" or the "Company") (NASDAQ: DLTH). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Duluth and certain of its officers and/or directors have engaged in securities fraud or 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 stock price fell $5.94 per share, or 25.23% percent, to close at $17.60 on April 5, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP