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Solo Brands, Inc. (NYSE: DTC) is a leading Direct-To-Consumer (DTC) platform known for its suite of premium outdoor lifestyle brands including Solo Stove, Oru, ISLE, TerraFlame, IcyBreeze, and Chubbies apparel. Since its inception in 2010, Solo Brands has been delivering well-designed fire products that help individuals reconnect with what matters most. The company's innovative products, such as the patented 'secondary burn' technology in Solo Stove, offer a hotter, near-smokeless fire experience, making outdoor gatherings more enjoyable. Solo Stove's product line includes portable fire pits, grills, and camping stoves, along with a range of accessories, cookware, and apparel.
Solo Brands' portfolio also features Oru Kayak, renowned for its lightweight, foldable kayaks, and ISLE, which offers stand-up paddle boards engineered for various skill levels and preferences. Chubbies is another key brand under Solo Brands, offering fun, premium casual wear and activewear designed for comfort and style. IcyBreeze adds to the diverse product range with its innovative portable cooler air-conditioners, perfect for outdoor activities. The recent addition of Snoop Dogg as the official 'smokesman' for Solo Stove has further boosted the brand's visibility. Known for his love of outdoor fires without the nuisance of smoke, Snoop Dogg's collaboration includes the development of a signature line of smokeless fire products, starting with a limited edition Bonfire Fire Pit bundle.
Headquartered in Grapevine, TX, Solo Brands operates through an omni-channel distribution model that includes e-commerce, strategic wholesale partnerships, and physical retail stores. This approach ensures that their innovative products reach a wide audience, enhancing outdoor experiences and fostering memorable moments. With a commitment to quality and customer satisfaction, Solo Brands continues to grow its presence in the outdoor lifestyle market.
Solo Brands (NYSE: DTC) reported Q3 2024 financial results with net sales of $94.1 million, down 14.7% year-over-year. The company posted a net loss of $111.5 million, with loss per share of $1.19. Direct-to-consumer revenues decreased 15.5% to $64.5 million, while retail revenues fell 12.7% to $29.7 million. Despite challenging macroeconomic conditions affecting big-ticket consumer items, Solo Brands reaffirmed its full-year 2024 guidance, expecting total revenue between $470-490 million and adjusted EBITDA margin of 9-10%.
Solo Brands (NYSE: DTC) announced it will release its third quarter fiscal 2024 financial results on November 7, 2024, before market opens. The company will host a conference call at 9:00 a.m. ET to discuss the results. A live webcast will be available on the investor relations website, with replay access until November 14, 2024. Solo Brands operates as an omni-channel platform featuring brands including Solo Stove, Chubbies, Oru Kayak, ISLE, TerraFlame, and IcyBreeze.
The New York Islanders and UBS Arena have announced a multi-year partnership with Solo Stove, a leading outdoor lifestyle brand within Solo Brands (NYSE: DTC). As part of this milestone agreement, Solo Stove becomes the first and exclusive jersey patch partner for the Islanders organization. The brand's iconic flame logo will be featured on both New York Islanders and Bridgeport Islanders jerseys for all games starting this season.
Additionally, the plaza outside UBS Arena will be renamed Solo Stove Plaza, integrating the company's innovative products throughout the space. This partnership aims to enhance fan experiences and expand Solo Stove's presence in the New York Tri-State area. To celebrate, a pregame event will be held at The Park at UBS Arena, featuring Solo Stove products, homemade pizza, and other fan activities.
Chubbies, a lifestyle apparel brand under Solo Brands (NYSE: DTC), has announced a collaboration with the NFL and appointed San Francisco 49ers tight end George Kittle as Creative Director of Football. This partnership will result in a range of NFL-licensed merchandise launching in Fall 2024, initially featuring select teams and expanding to all NFL teams by Spring 2025. Kittle will lead design efforts and drive strategy for Chubbies' NFL apparel collections, combining his on-field expertise with off-field creativity. The collaboration aims to blend Chubbies' signature fun style with Kittle's passion for football, offering fans a unique fusion of sports and fashion. Chubbies Co-Founder Rainer Castillo expressed excitement about leveraging Kittle's distinct style and the brand's creativity to deliver something special for fans.
Solo Stove, part of Solo Brands (NYSE: DTC), is launching its biggest marketing campaign to date called 'Blunt Marketing'. The campaign features Snoop Dogg and Warren G promoting Solo Stove's products with a direct, no-nonsense approach. This 360° full-funnel marketing campaign will run across various high-visibility channels, including Thursday Night Football and TikTok.
The campaign aims to drive product trials and cement Solo Stove's position as a disruptive outdoor lifestyle brand. Chief Marketing Officer Luana Bumachar describes it as 'blunt, direct, unapologetic, and entertaining'. The campaign will coincide with the launch of three new innovative products, reinforcing Solo Stove's commitment to delivering premium outdoor living experiences.
Solo Brands (NYSE: DTC) reported Q2 2024 results with net sales of $131.6 million, up 0.5% year-over-year. The company experienced a net loss of $4.0 million, down 135.1% from Q2 2023. Adjusted EBITDA was $15.5 million, a 38.2% decrease. Despite strong retail sales and sequential improvement in direct-to-consumer business, Solo Brands is facing softer demand trends due to selective consumer spending. As a result, the company has lowered its full-year 2024 guidance. Updated outlook projects total revenue between $470-$490 million and an adjusted EBITDA margin of 9-10% for 2024. The company remains focused on stabilizing its business and investing in capabilities for growth in 2025.
Solo Brands, Inc (NYSE: DTC), an omni-channel platform of brands including Solo Stove, Chubbies, Oru Kayak, ISLE, TerraFlame, and IcyBreeze, has announced the release date for its second quarter fiscal 2024 financial results. The company will report its earnings on August 7, 2024, before the market opens.
A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the financial results. Investors and analysts can participate by dialing +1 833 470 1428 (or +1 929 526 1599 for international callers) with the Conference ID 207489. A live webcast will be available on the company's investor relations website.
A recorded replay of the call will be accessible until August 14, 2024, and a webcast replay will be available for 1 year on the company's website.
Chubbies, under the Solo Brands portfolio (NYSE: DTC), announces a significant collaboration with Team USA and Olympic Heritage, launching a multi-year capsule series from the Paris 2024 Olympics through the LA 2028 Olympics. Starting July 12, 2024, Chubbies will release three summer capsules, each celebrating different eras of American Olympians. The first capsule, endorsed by Silver Medalist Steele Johnson, features performance polos, tees, tanks, and swim trunks. The second capsule, launching July 22, 2024, pays homage to the 1984 LA Olympics with lightweight button-up shirts and vintage-inspired prints, featuring five-time Olympic medalist Greg Louganis. The final capsule, launching August 11, 2024, anticipates the LA 2028 Olympics with vibrant tank tops and swim trunks. Each piece will be available exclusively at Chubbiesshorts.com.
Solo Brands, Inc. (NYSE: DTC) announced its first quarter 2024 financial results, showcasing a net sales decrease of $2.9 million or 3.3%. The company reported a net loss of $6.5 million, an adjusted net income decrease of 83.8%, and an adjusted EBITDA decrease of 72.1% compared to the same period in 2023. While direct-to-consumer net sales declined, wholesale net sales increased. Gross profit decreased by 7.1%, and gross margin reduced by 250 basis points due to a shift in channel mix. Selling, general, and administrative expenses increased by 8.5%, and interest expense rose by 35.9%. The company reaffirmed its full-year 2024 guidance with revenue expected to be between $490 million to $510 million and an adjusted EBITDA margin of 10% to 12%.
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