Shares of Digital Brands Group Inc. on Monday fell 5.4% to $1.38 in after-hours trading after the manufacturer and seller of apparel posted a wider loss in its latest quarter.
The company posted a fourth-quarter net loss of $15.8 million, or $20.46 a share, compared with a loss of $9.7 million, or $127.13 a share, for the same period a year earlier.
Revenue dropped 16% to $3.4 million on the back of a $420,000 advertising spend, it said.
The company’s gross margin increased to $642,348 from $472,081 a year ago.