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Digital Brands Group, Inc. - $DBGI STOCK NEWS

Welcome to our dedicated page for Digital Brands Group news (Ticker: $DBGI), a resource for investors and traders seeking the latest updates and insights on Digital Brands Group stock.

Digital Brands Group, Inc. (NASDAQ: DBGI) is a growing collection of luxury lifestyle, digital-first brands offering a wide variety of apparel through both direct-to-consumer and wholesale channels. The company's core focus is to provide diverse, high-quality fashion through its array of brands, which include Bailey 44, DSTLD, Harper & Jones, Stateside, and Sundry. This unique portfolio caters to different market segments and preferences, ensuring a wide reach and strong customer engagement.

Founded as a digitally native brand, DBG leverages data and customer purchase histories to create personalized, targeted content and outfit suggestions. This approach not only enhances the customer experience but also drives higher retention and lifetime value. The company has expanded its offerings beyond online sales to include selected wholesale and retail storefronts, creating a robust omnichannel presence.

In January 2024, DBG announced its revenue guidance for the year, projecting a significant increase to $27 million to $30 million, a 70% to 90% rise from the previous year’s expectations. The company also forecasted an EBITDA of $1.5 million to $2.0 million and anticipates generating $6.0 million to $7.0 million in internal free cash flow, demonstrating a strong financial outlook and commitment to shareholder growth.

DBG has also embarked on an ambitious retail expansion strategy. In early 2024, the company signed a Letter of Intent to open its first retail store, with plans to generate over $1.5 million in annual revenue and $500,000 in cash flow. This store will help clear excess inventory at higher margins, significantly boosting cash flow without additional costs. Future plans include opening 50 retail stores over the next few years, funded by internal cash flow, projecting over $75 million in annual revenue from these new locations.

The company’s meticulous financial management and strategic decisions have led to a substantial reduction in operating costs, further reinforcing its fiscal responsibility. With the Sundry acquisition and a reduced cost structure, DBG is well-positioned to achieve its 2024 revenue targets without diluting shareholder value through equity offerings.

DBG's focus remains on innovating within the retail space and enhancing its brand visibility and customer reach. By integrating wholesale, e-commerce, and retail channels, the company aims to maximize its market presence and revenue streams. DBG's management, led by CEO Hil Davis, continues to explore strategic alternatives to maximize shareholder value and drive sustained growth.

For more information, visit the Digital Brands Group investment relations page or contact Hil Davis, CEO, at invest@digitalbrandsgroup.co.

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Digital Brands Group, Inc. (DBG) (NASDAQ: DBGI) announces a 70% to 90% increase in revenue expectations for 2024, with an initial guidance of $27 million to $30 million. The company also forecasts EBITDA of $1.5 million to $2.0 million and $6.0 million to $7.0 million in internal free cash flow for 2024. CEO Hil Davis expresses commitment to shareholder growth and explores strategic alternatives to maximize shareholder value.
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Digital Brands Group, Inc. (DBG) (NASDAQ: DBGI) announced the conversion of all remaining pre-funded warrants into common shares, resulting in a total of 857,859 common shares outstanding. The August 2023 financing has allowed the company to continue executing its growth strategy, maintain Nasdaq listing, and expects to achieve ebitda neutrality in the first quarter.
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Digital Brands Group, Inc. (NASDAQ: DBGI) reported financial results for its third quarter, revealing a significant increase in net revenues, gross margin, and internal free cash flow. The company's first quarter 2024 wholesale bookings reached $4.5 million, demonstrating a positive trend in revenue growth. However, the Board is reviewing strategic alternatives due to a dislocation between the company's public market value and its underlying assets and operating performance.
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Digital Brands Group, Inc. (NASDAQ: DBGI) Announces 2023 Annual Meeting of Shareholders
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Digital Brands Group, Inc. (NASDAQ: DBGI) will release its Q3 2023 financial results on November 14, 2023, followed by a conference call to discuss the outcomes. The company's management will host the call, which can be accessed via phone or webcast.
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Digital Brands Group, Inc. (NASDAQ: DBGI) has announced a formal review to explore strategic alternatives for the company. The review will evaluate options to maximize shareholder value due to the dislocation between the company's public market value and the intrinsic value of its assets. The company has not set a deadline or definitive timetable for the completion of this process.
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DBG closes private placement offering, raising $5.0 million in gross proceeds
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Digital Brands Group, Inc. announces private placement offering of 513,875 shares of common stock at $9.73 per share, expected to generate approximately $5.0 million in gross proceeds.
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Digital Brands Group, Inc. will undergo a 1-for-25 reverse stock split of its common stock, effective on August 22, 2023. The stock will continue trading on Nasdaq under the symbol 'DBGI' on a split-adjusted basis.
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Digital Brands Group, Inc. (NASDAQ: DBGI) reported net earnings of $5.0 million or $0.38 per diluted share for the second quarter ended June 30, 2023. Revenues increased by 69.6% to $4.5 million, excluding revenue from the Harper & Jones spin out. The company expects higher revenues in the third and fourth quarters and anticipates cost savings during that period.
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FAQ

What is Digital Brands Group, Inc.?

Digital Brands Group, Inc. (NASDAQ: DBGI) is a collection of luxury lifestyle, digital-first brands offering various apparel through direct-to-consumer and wholesale channels.

What brands are part of DBG's portfolio?

DBG's brand portfolio includes Bailey 44, DSTLD, Harper & Jones, Stateside, and Sundry.

What is DBG's 2024 revenue guidance?

DBG forecasts its 2024 revenue to be between $27 million to $30 million, a 70% to 90% increase from 2023 expectations.

What are DBG's plans for retail expansion?

DBG plans to open 50 retail stores over the next few years, funded by internal free cash flow, with each store expected to generate over $1.5 million annually.

How does DBG leverage customer data?

DBG uses customer data and purchase histories to create personalized, targeted content and outfit suggestions, enhancing the customer experience and driving retention.

What financial achievements has DBG reported recently?

DBG has forecasted an EBITDA of $1.5 million to $2.0 million for 2024 and expects to generate $6.0 million to $7.0 million in internal free cash flow.

How is DBG reducing operating costs?

Following the Sundry acquisition, DBG has reduced operating costs by an additional $1 million for 2024, showcasing strong financial management.

What is DBG’s approach to inventory management?

DBG plans to clear excess inventory through its retail stores at higher margins, using inventory already paid for and stored, thus eliminating additional costs.

Will DBG issue new equity offerings in 2024?

DBG has committed to no equity offerings for 2024, focusing on shareholder value and financial stability.

Where can I find more information about DBG?

For more information, visit the Digital Brands Group investment relations page or contact CEO Hil Davis at invest@digitalbrandsgroup.co.

Digital Brands Group, Inc.

Nasdaq:DBGI

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2.72M
1.93M
4.03%
0.16%
0.84%
Electronic Shopping
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United States of America
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