Solo Brands Sales Plunge on Promotional Reset
Net loss attributable the company was reduced by 78% to $15,026,000 in Q3 from $69,864,000 but net sales dropped 44% to $53,038,000 from $94,139,000 due to the new promotional strategy for Solo Stove. The bottom line included $1.9 million in impairment charges related to a Mexico factory exit lapping last year’s $83.6 million impairment. Solo Stove sales were down 48% to $30.8 million on efforts to align direct-to-consumer and wholesale promotions to aid retail partners in moving excess inventory. Chubbies sales dropped 16% to $16.5 million on a timing shift of ... Log in to view full article.