Plby Group Inc Stock Price, News & Analysis

PLBY Group, Inc. (Nasdaq: PLBY) announced it will release its first-quarter 2023 financial results on May 10, 2023, after market close. A conference call and webcast will follow at 5:00 p.m. ET for management to discuss the results. The company, known for its iconic Playboy brand, operates in the pleasure and leisure industry, offering products and content in approximately 180 countries. PLBY Group aims to connect consumers with experiences that enhance their lives, underpinned by core values of equality and freedom of expression.

For further details, the webcast can be accessed on their investor relations page.

PLBY Group has sold its subsidiary, Yandy Enterprises, LLC, for $3 million. This transaction is part of PLBY's strategy to adopt a capital light model, emphasizing its most valued brands, Playboy and Honey Birdette. The company aims to connect consumers with products and experiences that enhance their lives, leveraging its iconic Playboy brand, which drives significant global consumer spending across approximately 180 countries. This move reflects a shift to sharpen operational focus and enhance brand value.

PLBY Group announced the appointment of Marc Crossman as Chief Operating Officer and Chief Financial Officer, effective March 22, 2023. Crossman transitions from Rizvi Traverse Management and brings extensive experience from leadership roles in consumer products and technology. CEO Ben Kohn stated that Crossman's expertise will help unlock further cost savings and enhance operational discipline. Crossman expressed enthusiasm for identifying growth opportunities and creating shareholder value through asset optimization and expansion in the creator platform.

PLBY Group, owner of the Playboy brand, announced a strategic restructuring aimed at simplifying its business model by focusing on its core brands, Playboy and Honey Birdette. The company expects to eliminate at least $15 million in annual costs, moving towards a capital-light operation. FY22 revenue grew 8% to $266.9 million, with a Q4 revenue of $68.5 million. However, the company reported a significant net loss of $277.7 million, largely due to non-cash asset impairment charges. The CEO emphasized the need for a simpler, more profitable business model in a changing economic landscape.

PLBY Group, Inc. (Nasdaq: PLBY) will release its financial results for the fourth quarter and fiscal year ending December 31, 2022, on March 16, 2023, after market close. A conference call and webcast will follow at 5:00 p.m. ET for analysis of the results. PLBY Group, recognized for its Playboy brand, is a global leader in the pleasure and leisure lifestyle sector, engaging consumers through products and experiences that enhance their lives. The company operates in approximately 180 countries, generating billions in global consumer spending, while championing values of equality, freedom of expression, and the pursuit of pleasure.