Digital Brands Group To Open First Retail Store in First Half of April in Dallas, Texas
Digital Brands Group, Inc. (DBGI)
Company Research
Source: PR Newswire
Store forecasted to generate over $1.5 million in annual revenue and $500,000 in annual cash flowAUSTIN, Texas, Feb. 27, 2024 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces plans to open its first retail store in the first half of April at the Simon Premium Outlet Mall in Allen, Texas, a suburb of Dallas, TX. The Company forecasts the store to generate over $1.5 million in annual revenue and over $500,000 in annual cash flow based on the historical performance of this location, and excess Sundry inventory prior to the acquisition.DBG will use this store to clear excess inventory at meaningfully higher margins than selling into the off-price channel. Importantly, DBG received a significant amount of excess inventory with its Sundry acquisition. Therefore, there will be little to no additional costs associated with the excess inventory, as this inventory has already been paid for and is
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News
- Digital Brands Group, Inc. (NASDAQ:DBGI) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Digital Brands Group Reports Fourth Quarter and Fiscal Year 2023 Financial Results [Yahoo! Finance]Yahoo! Finance
- Digital Brands Group Reports Fourth Quarter and Fiscal Year 2023 Financial ResultsPR Newswire
- Digital Brands Group to Report Fourth Quarter and Fiscal Year 2023 Financial Results on Monday, April 15, 2024PR Newswire
- Digital Brands Group To Open First Retail Store in First Half of April in Dallas, Texas [Yahoo! Finance]Yahoo! Finance
DBGI
Sec Filings
- 4/25/24 - Form 8-K
- 4/15/24 - Form 10-K
- 4/12/24 - Form 424B5
- DBGI's page on the SEC website