Digital Brands Group, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 14, 2024. CEO Hil Davis stated that the third quarter marked the conclusion of a period focused on debt and liability reduction.
Starting in October 2024, the company formally transitioned its strategy from balance sheet cleanup to an aggressive focus on increasing top-line growth. This pivot is supported by new initiatives, including investments in digital channels, content creation, and influencer partnerships.
The company anticipates an increase of over $4.5 million in earnings for fiscal year 2025. This benefit is expected to arise from the conclusion of amortized non-cash expenses by the end of 2024, coupled with a wholesale price increase for the Sundry brand.
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