Digital Brands Gains On Solid FY23 Guidance

by Shivani Kumaresan, Benzinga Staff Writer

January 11, 2023 2:20 PM | 1 min read | Make a Comment

Digital Brands Group Inc DBGI expects FY23 revenue of $45 million - $50 million.
The company sees FY23 EBITDA of $2 million - $3 million due to shared services operating leverage.
Digital Brands multi-brand website recorded a 436% increase in e-commerce revenue during its Black Friday/Cyber Monday promo period versus the same period a year ago.
"Our 2023 revenue guidance includes the addition of Sundry to our brand portfolio with minimal benefit from cross merchandising and the addition of Sundry to our multi-brand website, the Bailey Shop," said CEO Hil Davis.
Digital Brands offers a wide variety of apparel through numerous brands on both direct-to-consumer and wholesale basis.
Price Action: DBGI shares are trading higher by 6.86% at $4.05 on the last check Wednesday.

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