Solo Brands CEO: The 'consumer is still pressured'

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Solo Brands (DTC) posted third-quarter earnings showing a strong increase in net income, rising 176% compared to the same period last year. The lifestyle brands company stands firm on its 2023 guidance, expecting net revenue to reach between $520 to $540 million. Solo Brands CEO John Merris joins Yahoo Finance Live anchor Rachelle Akuffo to discuss the omnichannel approach the business is using for strong success. "We wanted to start exploring ways that we can leverage retail partnerships to help us drive more traffic and exposure to our brands. We have executed on that strategy and seen tremendous success in a tough year in retail," Merris explains. "We are seeing tremendous growth, we expected some cannibalization of our direct-to-consumer business, our e-commerce business and we have seen that but not in excess of what we expected." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #stockmarket #solo About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optim

Published 2023-11-08 · Watch on YouTube ↗
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