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Press Release: Duluth Holdings Celebrates Grand Opening of its Eighteenth Store in Burlington, Massachusetts

BELLEVILLE, Wis., March 23, 2017 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading”) (NASDAQ:DLTH), a lifestyle brand of men’s and women’s casual wear, workwear and accessories, today announced the grand opening of its 18th store in Burlington, Massachusetts, a suburb of Boston. The store is located outside the Mall at 112 Burlington Mall Road, Burlington, MA 01803.

“We are excited to open a Duluth store in the Greater Boston Area,” said Stephanie Pugliese, Chief Executive Officer of Duluth Trading. “The Burlington store will be our third location serving a major metro region on the East Coast.  We have the largest concentration of Duluth customers in the eastern U.S. and are delighted to bring our unique shopping experience and solution-based apparel to our Duluth brand fans and new customers in the region.”

The store will host several events to celebrate the grand opening on Thursday, March 23. There will be an official ribbon cutting ceremony at 9:00 a.m. Eastern Time with Duluth Trading representatives and local dignitaries on hand to do the honors. At noon and 3:00 p.m. Eastern Time, there will be a Lumberjack Show to welcome our customers.

About Duluth Trading

Duluth Trading is a rapidly growing lifestyle brand for the Modern, Self-Reliant American.  Based in Belleville, Wisconsin, we offer high quality, solution-based casual wear, workwear and accessories for men and women who lead a hands-on lifestyle and who value a job well-done. We provide our customers an engaging and entertaining experience.  Our marketing incorporates humor and storytelling that conveys the uniqueness of our products in a distinctive, fun way, and our products are sold exclusively through our content-rich website, catalogs, and “store like no other” retail locations. We are committed ...

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Press Release: OTI Reports Fourth Quarter and Full Year 2016 Financial Results

ROSH PINNA, Israel, March 22, 2017 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global provider of near field communication (NFC) and cashless payment solutions, reported financial results for the fourth quarter and fiscal year ended December 31, 2016.

Q4 2016 Operational Highlights

  • Great promise and progress in Japan.  Following the execution of a letter of intent announced in Q4 2016 for 10,000 otiMetry systems during the coming three years, a formal purchase order was received in early 2017.
  • Growth in the deployment of our otiMetry solutions, which generate recurring revenue in addition to associated product sales.

Q4 2016 Financial Details

  • Total quarterly revenue of $5.6 million, a year-over-year increase of 3%.

  • Operating expenses decreased 10% to $3.4 million from $3.7 million in the same year-ago period.

  • Cash and cash equivalents, and short-term investments at December 31, 2016 totaled $11.5 million, which was up 6% from the end of the prior year. 

Full Year 2016 Financial Details

  • Revenue increased 11% to $20.6 million from $18.5 million in 2015.

  • Gross profit increased 10% to $10.2 million compared to $9.3 million in 2015.

  • Operating expenses decreased $4.0 million or 25% to $12.1 million from $16.1 million last year.

  • Net loss from continuing operations totaled $2....

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Press Release: Xcel Brands Announces Fourth Quarter and Full Year 2016 Financial Results

Company Achieves Third Consecutive Year of Double-Digit Annual Revenue Growth Up 18% to $32.8 Million

2016 GAAP Net Income of $2.7 Million; Non-GAAP Net Income of $4.9 Million

2016 Adjusted EBITDA of $8.5 Million

NEW YORK, March 21, 2017 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ:XELB) (“Xcel” or the “Company”), a media and brand management company, today announced its financial results for the fourth quarter and full year ended December 31, 2016.

“This was a transformative year for us in which we achieved another year of double-digit revenue growth while continuing to make progress on our strategic plan to better position the company for long-term growth,” said Robert W. D'Loren, Xcel's Chairman and Chief Executive Officer. “Despite a retail environment challenged by an unprecedented cycle of change, we continue to believe our business model has us well-positioned to deliver solutions for today’s challenges.” He further stated, “I am pleased with the expansion of our department store business with our H Halston brand at Dillard’s. We are beginning to see the return on investment from our short lead time production platform.”

Full Year 2016 Results
Total revenue for the year ended December 31, 2016 increased 18% to $32.8 million, compared with $27.7 million in the prior year.

GAAP net income was $2.7 million for the year ended December 31, 2016, or $0.14 per diluted share, compared with GAAP net income of $2.6 million, or $0.15 per diluted share, in the prior year. After adjusting for certain cash and non-cash items, non-GAAP net income for the year ended December 31, 2016 decreased approximately 21% to $4.9 million, or $0.26 per diluted share, compared with $6.3 million, or $0.3...

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Press Release: Duluth Holdings Inc. Announces Fourth Quarter and Fiscal 2016 Financial Results

BELLEVILLE, Wis., March 21, 2017 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading” or the “Company”) (NASDAQ:DLTH), a lifestyle brand of men’s and women’s casual wear, workwear and accessories, today announced its financial results for the fiscal fourth quarter and fiscal year ended January 29, 2017 and its financial guidance for fiscal year 2017.

Highlights for the Fourth Quarter Ended January 29, 2017

  • Net sales increased 24.4% to $174.7 million compared to $140.4 million in the prior-year fourth quarter
  • Gross margin decreased 70 basis points (bps) to 55.4% compared to 56.1% in the prior-year fourth quarter
  • Net income was $14.0 million, or $0.43 per diluted share, compared to $17.5 million, or $0.58 per diluted share in the prior-year fourth quarter. Adjusted for income taxes, pro forma net income for the prior-year fourth quarter was $11.3 million, or $0.37 per diluted share
  • Adjusted EBITDA1 increased 22.7% to $24.7 million compared to $20.1 million in the prior-year fourth quarter
  • During the fourth quarter, the Company opened two new retail stores in Manassas, Virginia and in Independence, Missouri
  • 28th consecutive quarter of increased net sales year-over-year

1See Reconciliation of net income to EBITDA and EBITDA to Adjusted EBITDA in the accompanying financial tables.

Highlights for the Fiscal Year Ended January 29, 2017

  • Net sales increased 23.7% to $376.1 million compared to $304.2 million in the prior year
  • Gross margin decreased 10 bps to 56.9% compared to 57.0% a year ago
  • Net income was $21.3 million, or $0.66 per diluted share, compared to $27.4 million, or $1.06 per d...

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