Digital Brands Group Inc Stock Price, News & Analysis

Digital Brands Group (NASDAQ: DBGI) announced an estimated 100% revenue increase for Q2 2021 compared to Q1. This growth is driven by a strong contribution from Harper & Jones. CEO Hil Davis expressed confidence in continued improvement for Q3 and Q4, thanks to enhanced cash flow and inventory management. Key milestones include successful product shipments for Bailey 44 and DSTLD, as well as a new marketing strategy targeting Amazon. The finalized financial results are expected by August 16, 2021.

Digital Brands Group, Inc. (NASDAQ: DBGI) announced on June 28, 2021, that underwriters of its public offering, which closed on May 18, 2021, exercised their over-allotment option, purchasing an additional 361,445 shares at $4.15 per share. This brings total shares sold to 2,771,084, securing gross proceeds of approximately $11.5 million before expenses. The offering is supported by a registration statement declared effective on May 13, 2021. The shares and warrants are listed on the Nasdaq under symbols DBGI and DBGIW.

Digital Brands Group, Inc. (DBGI) reported a net loss of $3.0 million, or $4.55 per diluted share, for Q1 2021 on revenue of $408,000, down from $2.6 million in Q1 2020. The decline reflects limited cash, inventory shortages, and COVID-19's impact on sales. However, the company expects improved results in Q2 due to inventory shipments and marketing initiatives, including a new strategy for Amazon. The acquisition of Harper & Jones added $903,000 in revenue, and DBGI is pursuing further acquisitions to enhance revenue. CEO Hil Davis anticipates significant operational improvements in Q3 and beyond.

Digital Brands Group (NASDAQ: DBGI) will report its first-quarter financial results for the period ending March 31, 2021, on June 28, 2021, at 8:30 am ET. A management webcast will follow at 9:00 am ET to discuss these results. The company operates a collection of luxury lifestyle brands, emphasizing a digitally native vertical business model that drives online sales by controlling distribution and sourcing products directly. This approach aims to enhance customer lifetime value and drive new customer growth.

Digital Brands Group, Inc. (NASDAQ: DBGI) announces its expansion into the Amazon marketplace this Fall. This move aims to leverage Amazon's dominant position in e-commerce, particularly in apparel, where it generated over $41 billion in sales in 2020. Chief Marketing Officer Laura Dowling highlighted the strategic importance of Amazon for customer acquisition and brand awareness. The company is also finalizing a partnership with a marketing firm specializing in Amazon advertising to enhance visibility. Forward-looking statements indicate a cautious optimism regarding future performance amidst potential risks.

DBG, Inc (NASDAQ: DBGI) has signed a non-binding letter of intent to acquire Stateside, a global elevated basics brand. The deal aims to finalize in the third quarter of 2021, pending customary conditions. DBG plans to use cash and equity to fund the acquisition, enhancing financial flexibility. The move is expected to strengthen DBG's direct-to-consumer channel and brand awareness, boosting revenue. Executives affirm that this acquisition validates their IPO strategy, aiming for increased shareholder value.

Digital Brands Group (NASDAQ: DBGI) will present at the Emerging Growth Conference on May 26, 2021, at 12:00 PM Eastern time. This live, interactive online event allows shareholders and the investment community to engage with the Company's CEO, Hil Davis, and CMO, during a 30-minute presentation, followed by a Q&A session. Attendees can register to join the live event or access an archived webcast afterward. This conference aims to connect public companies with investors to showcase their innovative products and services.

On May 18, 2021, Digital Brands Group (NASDAQ: DBGI) successfully closed a public offering, selling 2,409,639 shares and warrants for total gross proceeds of approximately $10 million at $4.15 per share. This included an over-allotment option exercised by underwriters. Concurrently, Digital Brands acquired Harper & Jones, LLC, enhancing its apparel offerings and customer reach through established showrooms in Texas and Louisiana. The acquisition aims to strengthen its direct-to-consumer strategy and diversify product lines.

Digital Brands Group, Inc. (NASDAQ: DBGI) announced a public offering of 2,409,639 shares of common stock and warrants at a combined price of $4.15 per unit, aiming for gross proceeds of approximately $10 million. The offering is scheduled to close around May 18, 2021, subject to customary conditions. The company has also been approved for listing on the Nasdaq Capital Market. Each warrant is exercisable at $4.67 per share, expiring in five years. Kingswood Capital Markets is the sole book-running manager for this offering.