Brief: Duluth Holdings Provides Business Update Related To Covid-19

Duluth Holdings

10/04/2020 19:39

April 10 (Reuters) - Duluth Holdings Inc  DLTH.O :
    * DULUTH HOLDINGS PROVIDES BUSINESS UPDATE RELATED TO
COVID-19
    * DULUTH HOLDINGS INC - CEO STEVE SCHLECHT WILL WAIVE ALL
CASH
COMPENSATION FOR BALANCE OF FISCAL 2020
    * DULUTH HOLDINGS INC - SIX-MONTH PAY REDUCTION FOR SENIOR
LEADERSHIP RANGING FROM 10 TO 20 PERCENT
    * DULUTH HOLDINGS INC - BOARD OF DIRECTORS WILL FOREGO CASH
RETAINERS FOR SECOND AND THIRD QUARTERS
    * DULUTH HOLDINGS INC - FURLOUGHS OF VARYING LENGTHS WITH
BENEFITS
INTACT FOR 68% OF SALARIED STAFF
    * DULUTH HOLDINGS INC - PERMANENT 10 PERCENT REDUCTION IN
CORPORATE STAFF
    * DULUTH HOLDINGS INC - PLANS TO OPEN FOUR STORES IN FISCAL
YEAR
2020, REDUCING ITS PREVIOUSLY DISCLOSED PLAN BY ONE STORE
    * DULUTH HOLDINGS - LIQUIDITY POSITION AS OF APRIL 10, 2020
IS $85
MILLION OUTSTANDING ON ITS $130 MILLION LINE OF CREDIT AND $13
MILLION IN CASH BALANCE

Source text for Eikon:  ID:nGNX5svBhH 
Further company coverage:  DLTH.O 

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