Solo Brands Lowers Guidance, Replaces CEO with Familiar Name

Solo Brands had some surprising news today. They lowered their guidance for 2023, and also they replaced their CEO, John Merris, who has overseen huge growth by the brand over the past five years.

Lowered Guidance

While Solo Brands started out as a direct-to-consumer (DTC) company, they’ve since been transitioning away from that. Their growth in recent quarters has come from their wholesale channel business, while their DTC business has seen decreases. It appears that trend has strengthened and it’s hurting their results.