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Digital Brands Group, Inc. - $DBGI STOCK NEWS

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Digital Brands Group (NASDAQ: DBGI) has reported its first-quarter financial results for 2024, with a significant reduction in net operating loss to $225,000 from $3.7 million a year ago. Although net revenues declined to $3.6 million from $4.4 million due to a shift in wholesale shipments to Q2, gross profit margins improved to 48.1%. General and administrative (G&A) expenses saw a substantial decrease to $1 million from $4.5 million, and sales and marketing expenses also dropped to $700,000. The net loss was $684,000 or $0.46 per diluted share, compared to a loss of $6.1 million or $27.48 per diluted share a year ago. Management will discuss these results in a conference call on May 20, 2024.

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Digital Brands Group (NASDAQ: DBGI) will report its first-quarter 2024 financial results on May 20, 2024, at 9:30 a.m. ET. Following the announcement, management will host a conference call at 10:30 a.m. ET to discuss the results. The call can be accessed by dialing 888-506-0062 and using the conference I.D. code 817721 or via a provided webcast link. DBG is known for its curated collection of digital-first luxury lifestyle brands and operates on both direct-to-consumer and wholesale bases. The company leverages customer data to create personalized content and looks tailored to specific customer cohorts.

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Digital Brands Group, Inc. announced the closing of the exercise of warrants for $3.2 million in gross proceeds. The company issued new warrants with reduced exercise prices, generating funds for working capital purposes. The warrants were offered in a private placement, and the company intends to file a registration statement for the resale of shares. Digital Brands Group focuses on digital-first luxury lifestyle brands with a vertically integrated distribution model.

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Digital Brands Group, Inc. (DBGI) announced the exercise of warrants for $3.2 million in gross proceeds through a definitive agreement, reducing the exercise price of certain outstanding warrants to purchase shares of common stock. The transaction is expected to close on May 7, 2024, with H.C. Wainwright & Co. acting as the exclusive placement agent. New unregistered Series A-1 and Series B-1 warrants will be issued with an exercise price of $2.88 per share, totaling the gross proceeds to approximately $3.2 million. The net proceeds will be utilized for working capital purposes.

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Digital Brands Group, Inc. reported a net income loss of $0.6 million in the fourth quarter, excluding non-cash expenses. The company achieved break-even net income due to cost savings despite lower revenue from Sundry. Net revenues increased by 6.8% to $14.9 million, with gross margin increasing by 10.2%. G&A expenses decreased, and sales & marketing expenses also saw a decline. The company is optimistic about revenue growth and lower operating expenses in the upcoming quarters.
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Digital Brands Group, Inc. (NASDAQ: DBGI) will announce Q4 2023 financial results on April 15, 2023. The conference call will discuss the results and can be accessed via phone or web.
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7.95%
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Digital Brands Group, Inc. (NASDAQ: DBGI) announces plans to open its first retail store in Allen, Texas, projecting over $1.5 million in annual revenue and $500,000 in cash flow. The store aims to clear excess inventory at higher margins, leveraging the acquired Sundry inventory. CEO Hil Davis emphasizes the importance of retail stores in the company's growth strategy.
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Digital Brands Group, Inc. re-affirms its fiscal year 2024 forecast with revenue expected to range between $27 million to $30 million, internal free cash flow of $6 million to $7 million, and ebitda of $1.5 million to $2.0 million. The company commits to no equity offerings for 2024, achieved revenue scale with Sundry acquisition, and reduced operating costs by $1 million. CEO Hil Davis emphasizes shareholder growth and strategic value maximization.
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Digital Brands Group, Inc. (DBG) plans to open 50 retail stores in the next few years, funded by internal cash flow. The company believes the stores will drive brand awareness, lower customer acquisition costs, and increase customer retention. With a projected $1.5 million in annual revenue per store, DBG anticipates a total of $75 million in annual revenues from the fleet of stores. CEO Hil Davis sees retail stores as a key part of the company's growth strategy, alongside wholesale and e-commerce.
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Digital Brands Group, Inc. (DBG) has signed a Letter of Intent to open its first retail store in March, forecasting over $1.5 million in annual revenue and over $500,000 in annual cash flow. The company plans to use the store to clear excess inventory at a higher margin and expects it to generate significant annual cash flow of over $500,000 a year. DBG's CEO, Hil Davis, believes that the best performing retail brands will have three legs to their growth story: wholesale, e-commerce, and retail stores.
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Digital Brands Group, Inc.

Nasdaq:DBGI

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5.10M
790.16k
7.51%
1.25%
2.42%
Electronic Shopping
Retail Trade
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United States of America
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