Digital Brands Group Signs Letter of Intent to Open First Retail Store in March [Yahoo! Finance]
Digital Brands Group, Inc. (DBGI)
Company Research
Source: Yahoo! Finance
AUSTIN, Texas Jan. 16, 2024 /PRNewswire/ -- Digital Brands Group, Inc. ("DBG") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announces that is has signed a Letter of Intent to open its first retail store in March. The Company forecasts the store to generate over $1.5 million in annual revenue and over in annual cash flow based on the historical metrics and performance of this store, and excess Sundry inventory prior to the acquisition. DBG will use this store to clear excess inventory at a meaningfully higher margin than selling into the off-price channel. Importantly, DBG received a significant amount of excess inventory with its Sundry acquisition. Therefore, there will be no additional costs to make these excess units, as they have already been paid for and are at our warehouse. Given this, we expect this store to generate significant annual cash flow of over a year. "We are excited to begin the retail store phase of growth strategy. We
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DBGI
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