Corporate News Blog - Dave Loretta is the New CFO at Duluth Holdings
Research Desk Line-up: Cherokee Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 26, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for men's and women's workwear and clothing company, Duluth Holdings inc. (NASDAQ: DLTH), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=DLTH. The Company announced on July 24, 2017, the appointment of Dave Loretta as Senior Vice President and Chief Financial Officer (CFO). The appointment is effective immediately on July 24, 2017, and he will take charge from Mark M. DeOrio, who is the retiring CFO. Mark had announced his retirement in May 2017 and is due to retire by end of FY17. He will continue to be associated with the Company until his retirement. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Dave will report to Stephanie Pugliese, Duluth's President, and CEO. In his new role at Duluth, his direct responsibilities would include planning, implementing, managing, and controlling all financial-related activities of the Company, and taking on the lead in investor relations. Apart from this, he would also be required to actively participate in the four Board of Director and four Audit Committee meetings held every year.
Commenting on the new member joining the team, Stephanie Pugliese said:
"Dave has over two decades of financial experience and leadership in the retail industry, most notably 13 years with Nordstrom, and a proven track record of creating growth and value where he has been part of the leadership team. We look forward to using his public Company experience to enhance our corporate and financial strategies and to help communicate our growth story to investors."
Profile and experience of Dave Loretta
Dave is joining Duluth after running his own Company - Pacific Time, LLC from 2014 to 2016 and a 13-year stint with Nordstrom Bank. He was the President and CFO for four years at Nordstrom Bank and led all financial and operating functions for its proprietary card operations. His responsibilities as CFO included financial reporting, budgeting, forecasting, and long-range strategic planning as well as operational leadership. Before becoming the CFO, he held various other senior financial positions like corporate Vice President and Treasurer. Prior to joining Nordstrom Bank, Dave was with Restoration Hardware, Inc. as their Director of Planning and Analysis. During his tenure with Restoration Hardware, he developed a Companywide budgeting, forecasting, and reporting process for the retail stores, direct mail, and e-commerce catalog.
Dave has a BA in Business Economics from the University of California, Riverside and an MBA from San Diego State University.
About the Retiring CFO Mark M. DeOrio
Mark has been the CFO of Duluth since August 2010. He also served in the capacity of Senior Vice President of Operations from 2010 to January 2015. Before he joined Duluth, he held senior financial positions of CFO and Vice President of Operations at eBags, Inc. from 2004 to 2009. Prior to that, he was with Case Logic, Inc. from 1996 to 2004 as the Company's Vice President and CFO. Over his career spanning nearly four decades, he has held several senior level finance positions of increasing importance and responsibilities. Mark has a BBA degree in accounting from the University of Notre Dame, Mendoza School of Business, and is a CPA (inactive).
During his tenure with Duluth, Mark was instrumental in transitioning the Company from being a privately-held one to a public-Company. He helped in strengthening the Company's finance team and was a committed member of the management team.
About Duluth Holdings
Belleville, Wisconsin based Duluth is a rapidly growing lifestyle brand for the Modern, Self-Reliant American. The Company sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the US. The Company sells its products through its retail stores as well as through its website and via catalogs.
On July 14, 2017, the Company opened its twenty-third store in Red Wing, Minnesota.
Last Close Stock Review
On Tuesday, July 25, 2017, the stock closed the trading session at $19.50, rising slightly by 0.31% from its previous closing price of $19.44. A total volume of 158.54 thousand shares has exchanged hands. Duluth Holdings' stock price surged 14.30% in the last one month. The stock is trading at a PE ratio of 34.03 and currently, has a market cap of $621.47 million.
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