Digital Brands Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 05:27 pm IST
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Digital Brands Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 3.74 million compared to USD 1 million a year ago. Net loss was USD 9.53 million compared to USD 10.7 million a year ago. Basic loss per share from continuing operations was USD 27 compared to USD 197 a year ago.
For the six months, sales was USD 7.17 million compared to USD 1.41 million a year ago. Net loss was USD 17.37 million compared to USD 13.72 million a year ago. Basic loss per share from continuing operations was USD 71 compared to USD 448 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.