Duluth Holdings (DLTH) Files $115M Common Stock IPO

Duluth Holdings Inc. (Nasdaq: DLTH) filed for an IPO of its Common Stock with a proposed maximum offering price of $115 million. The company plans to trade on the Nasdaq Global Market under the symbol, "DLTH."

Underwriters on the offering are William Blair, Baird, Raymond James, and BMO Capital Markets.

Key financial highlights:

• net sales have increased year-over-year for 24 consecutive quarters through August 2, 2015;
• net sales in fiscal 2014 increased by 42.2% over the prior year to $231.9 million and net sales in the first six months of fiscal 2015 increased by 37.0% over the first six months of the prior year to $108.5 million;
• Adjusted EBITDA in fiscal 2014 increased by 51.3% over the prior year to $26.7 million and Adjusted EBITDA in the first six months of fiscal 2015 increased 37.4% over the first six months of the prior year to $11.2 million; and
• our retail stores have achieved an average payback of less than two years.

Duluth Trading is a rapidly growing lifestyle brand of men’s and women’s casual wear, workwear and accessories sold exclusively through our own channels.

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