Digital Brands Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 05:19 pm EST
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Digital Brands Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 3.26 million compared to USD 2.66 million a year ago. Net loss was USD 5.44 million compared to USD 4.89 million a year ago. Basic loss per share from continuing operations was USD 14.55 compared to USD 223.83 a year ago.
For the nine months, sales was USD 12.13 million compared to USD 7.94 million a year ago. Net loss was USD 6.53 million compared to USD 22.26 million a year ago. Basic loss per share from continuing operations was USD 17.5 compared to USD 1,607.05 a year ago.
Digital Brands Group, Inc. offers a variety of apparel products through direct-to-consumer and wholesale distribution. The Company's portfolio consists of various brands, including Bailey 44, DSTLD, Stateside and Sundry. DSTLD is a digital direct-to-consumer brand, which offers stylish garments without the luxury retail markup valuing customer experience over labels. Bailey 44 is a wholesale brand, which combines fabrics and on-trend designs to create sophisticated ready-to-wear capsules for women. DSTLD offers stylish high-quality garments without the luxury retail markup valuing customer experience over labels. Stateside is a wholesale brand, which is an elevated brand with all knitting, dyeing, cutting and sewing sourced and manufactured locally in Los Angeles. Sundry offers a collection of womenâs clothing, including dresses, shirts, sweaters, skirts, shorts, athleisure bottoms and other accessory products. Sundryâs products are coastal casual and consist of colorful designs.