Xcel Brands (XELB)
Market Price (9/21/2026): $0.8796 | Market Cap: $5.4 MilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods
Xcel Brands (XELB)
Market Price (9/21/2026): $0.8796Market Cap: $5.4 MilSector: Consumer DiscretionaryIndustry: Apparel, Accessories & Luxury Goods
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -40% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, and Luxury Consumer Goods. | Weak multi-year price returns2Y Excs Rtn is -124%, 3Y Excs Rtn is -164% | Penny stockMkt Price is 0.9 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -7.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -160% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 306% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -21%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -39%, Rev Chg QQuarterly Revenue Change % is -15% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -131%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -131% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -299% High stock price volatilityVol 12M is 114% Key risksXELB key risks include [1] declining licensing revenue and sustained net losses driven by underperforming brands, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -40% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, and Luxury Consumer Goods. |
| Weak multi-year price returns2Y Excs Rtn is -124%, 3Y Excs Rtn is -164% |
| Penny stockMkt Price is 0.9 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -7.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -160% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 306% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -21%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -39%, Rev Chg QQuarterly Revenue Change % is -15% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -131%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -131% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -299% |
| High stock price volatilityVol 12M is 114% |
| Key risksXELB key risks include [1] declining licensing revenue and sustained net losses driven by underperforming brands, Show more. |
Qualitative Assessment
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Xcel Brands (XELB) stock has lost about 60% since 5/31/2026 because of the following key factors:
1. Significant Revenue Decline and Wider Net Loss in Fiscal Q2 2026.
Xcel Brands reported a 14% decrease in total revenue, falling to $1.1 million for fiscal Q2 2026, which ended on June 30, 2026, compared to the prior year, primarily due to the divestiture of the Judith Ripka brand. Concurrently, the company's GAAP net loss for fiscal Q2 2026 was $2.5 million. On a non-GAAP basis, the net loss widened by approximately 44% to $1.3 million from $0.9 million in the prior year's fiscal Q2.
2. Acute Liquidity Shortage and High Debt Leading to Capital Raise.
As of June 30, 2026, Xcel Brands reported limited unrestricted cash of approximately $400,000 and substantial total long-term debt of roughly $12 million. The company also faced a working capital deficit of approximately $1.3 million (excluding current lease obligations and deferred revenue) or about $4.0 million. This financial strain compelled the company to pursue an at-the-market stock offering of up to $2.97 million in August 2026 to fund working capital and general corporate purposes.
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Xcel Brands (XELB) stock has lost about 60% since 5/31/2026 because of the following key factors:
1. Significant Revenue Decline and Wider Net Loss in Fiscal Q2 2026.
Xcel Brands reported a 14% decrease in total revenue, falling to $1.1 million for fiscal Q2 2026, which ended on June 30, 2026, compared to the prior year, primarily due to the divestiture of the Judith Ripka brand. Concurrently, the company's GAAP net loss for fiscal Q2 2026 was $2.5 million. On a non-GAAP basis, the net loss widened by approximately 44% to $1.3 million from $0.9 million in the prior year's fiscal Q2.
2. Acute Liquidity Shortage and High Debt Leading to Capital Raise.
As of June 30, 2026, Xcel Brands reported limited unrestricted cash of approximately $400,000 and substantial total long-term debt of roughly $12 million. The company also faced a working capital deficit of approximately $1.3 million (excluding current lease obligations and deferred revenue) or about $4.0 million. This financial strain compelled the company to pursue an at-the-market stock offering of up to $2.97 million in August 2026 to fund working capital and general corporate purposes.
3. Share Dilution from Capital Raising Activities.
The need for capital has led to significant share dilution, with the number of shares outstanding increasing by 121.55% in one year. The August 2026 at-the-market stock sale further contributed to this, with an illustrative sale of 3,160,805 shares at $0.94 potentially leading to an immediate dilution of approximately $2.23 per share for new investors.
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Stock Movement Drivers
Fundamental Drivers
The -60.5% change in XELB stock from 5/31/2026 to 9/20/2026 was primarily driven by a -56.9% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.17 | 0.86 | -60.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | -4.2% |
| P/S Multiple | 2.7 | 1.2 | -56.9% |
| Shares Outstanding (Mil) | 6 | 6 | -4.2% |
| Cumulative Contribution | -60.5% |
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| XELB | -60.5% | |
| Market (SPY) | 0.9% | 14.5% |
| Sector (XLY) | -8.1% | 3.0% |
Fundamental Drivers
The -39.9% change in XELB stock from 2/28/2026 to 9/20/2026 was primarily driven by a -36.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.43 | 0.86 | -39.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 5 | -8.6% |
| P/S Multiple | 1.1 | 1.2 | 3.4% |
| Shares Outstanding (Mil) | 4 | 6 | -36.4% |
| Cumulative Contribution | -39.9% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| XELB | -39.9% | |
| Market (SPY) | 11.6% | 17.7% |
| Sector (XLY) | -4.8% | 13.4% |
Fundamental Drivers
The -36.8% change in XELB stock from 8/31/2025 to 9/20/2026 was primarily driven by a -61.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.36 | 0.86 | -36.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 5 | -21.2% |
| P/S Multiple | 0.6 | 1.2 | 105.5% |
| Shares Outstanding (Mil) | 2 | 6 | -61.0% |
| Cumulative Contribution | -36.8% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| XELB | -36.8% | |
| Market (SPY) | 19.4% | 15.9% |
| Sector (XLY) | -3.6% | 13.3% |
Fundamental Drivers
The -93.4% change in XELB stock from 8/31/2023 to 9/20/2026 was primarily driven by a -78.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.00 | 0.86 | -93.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21 | 5 | -78.7% |
| P/S Multiple | 1.2 | 1.2 | -2.9% |
| Shares Outstanding (Mil) | 2 | 6 | -68.0% |
| Cumulative Contribution | -93.4% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| XELB | -93.4% | |
| Market (SPY) | 75.6% | 3.9% |
| Sector (XLY) | 33.0% | 5.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| XELB Return | -10% | -36% | 84% | -60% | -79% | -18% | -93% |
| Peers Return | 30% | -28% | 66% | 2% | -25% | 1% | 20% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| XELB Win Rate | 42% | 33% | 42% | 33% | 17% | 44% | |
| Peers Win Rate | 62% | 43% | 60% | 48% | 45% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| XELB Max Drawdown | -65% | -59% | -58% | -79% | -95% | -71% | |
| Peers Max Drawdown | -23% | -46% | -24% | -26% | -48% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GIII, PVH, KTB, OXM, SHOO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | XELB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -92.9% | -18.8% |
| % Gain to Breakeven | 1313.2% | 23.1% |
| Time to Breakeven | 7 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -38.1% | -9.5% |
| % Gain to Breakeven | 61.6% | 10.5% |
| Time to Breakeven | 37 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.6% | -6.7% |
| % Gain to Breakeven | 52.9% | 7.1% |
| Time to Breakeven | 17 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.6% | -24.5% |
| % Gain to Breakeven | 34.5% | 32.4% |
| Time to Breakeven | 242 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -72.0% | -33.7% |
| % Gain to Breakeven | 257.2% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -55.8% | -19.2% |
| % Gain to Breakeven | 126.0% | 23.8% |
| Time to Breakeven | 195 days | 105 days |
In The Past
Xcel Brands's stock fell -92.9% during the 2025 US Tariff Shock. Such a loss loss requires a 1313.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | XELB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -92.9% | -18.8% |
| % Gain to Breakeven | 1313.2% | 23.1% |
| Time to Breakeven | 7 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -38.1% | -9.5% |
| % Gain to Breakeven | 61.6% | 10.5% |
| Time to Breakeven | 37 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.6% | -6.7% |
| % Gain to Breakeven | 52.9% | 7.1% |
| Time to Breakeven | 17 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.6% | -24.5% |
| % Gain to Breakeven | 34.5% | 32.4% |
| Time to Breakeven | 242 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -72.0% | -33.7% |
| % Gain to Breakeven | 257.2% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -55.8% | -19.2% |
| % Gain to Breakeven | 126.0% | 23.8% |
| Time to Breakeven | 195 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -54.1% | -3.7% |
| % Gain to Breakeven | 118.0% | 3.9% |
| Time to Breakeven | 140 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -49.1% | -0.2% |
| % Gain to Breakeven | 96.4% | 0.2% |
| Time to Breakeven | 61 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -50.5% | -17.9% |
| % Gain to Breakeven | 102.0% | 21.8% |
| Time to Breakeven | 78 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -35.3% | -15.4% |
| % Gain to Breakeven | 54.5% | 18.2% |
| Time to Breakeven | 66 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -97.5% | -53.4% |
| % Gain to Breakeven | 3900.0% | 114.4% |
| Time to Breakeven | 666 days | 1085 days |
In The Past
Xcel Brands's stock fell -92.9% during the 2025 US Tariff Shock. Such a loss loss requires a 1313.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Xcel Brands (XELB)
Xcel Brands, Inc. is a media and consumer products company focused on acquiring, managing, and developing a portfolio of consumer lifestyle brands. The company's core business involves designing, producing, marketing, wholesaling, and selling a diverse range of branded products. These offerings include apparel, footwear, accessories, jewelry, and home goods. Xcel Brands also strategically licenses its brands to third parties, further extending their market presence and revenue generation.
The company's brand portfolio features well-known names such as Isaac Mizrahi, LOGO by Lori Goldstein, Judith Ripka, Halston, and C Wonder, alongside managing the Longaberger brand. Xcel Brands reaches its customers through an extensive omni-channel retail strategy, which encompasses interactive television, digital live-stream shopping, traditional brick-and-mortar retail, wholesale partnerships, and dedicated e-commerce platforms like isaacmizrahi.com and halston.com. Beyond product distribution, Xcel Brands provides comprehensive support for its brands, including live streaming, social media marketing, and public relations, primarily serving a broad consumer base interested in accessible fashion and lifestyle products across multiple purchasing channels.
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XELB is like:
- QVC or HSN, but instead of featuring other companies' products, it acquires and owns the entire portfolio of lifestyle brands that it sells through interactive shopping channels.
- A scaled-down Capri Holdings (owner of Michael Kors, Jimmy Choo) or Tapestry (owner of Coach, Kate Spade), but specializing in more accessible fashion and home goods brands, and leveraging digital live-stream commerce as a core selling strategy.
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- Branded Consumer Goods: Xcel Brands designs, produces, and sells a wide range of branded apparel, footwear, accessories, jewelry, and home goods under various lifestyle brands.
- Brand Licensing: The company licenses its portfolio of consumer lifestyle brands, such as Isaac Mizrahi and Halston, to third-party manufacturers and retailers.
- Brand Marketing & Support Services: Xcel Brands offers live streaming, social media, marketing, and public relations support for its owned and managed brands.
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Xcel Brands (XELB) sells primarily to other companies.
Its major customers include:
- Qurate Retail Group (symbols: QRTEA, QRTEB): This company owns QVC and HSN, which are prominent interactive television and digital live-stream shopping channels through which Xcel Brands distributes its products, particularly for brands like Isaac Mizrahi and LOGO by Lori Goldstein. Xcel Brands acts as a vendor to these channels.
- Other third-party companies that license Xcel Brands' various brands and intellectual property for manufacturing, marketing, and distribution.
- Various wholesale retailers, including brick-and-mortar department stores, specialty stores, and e-commerce platforms, through which Xcel Brands' branded apparel, footwear, accessories, jewelry, home goods, and other consumer products are distributed.
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Robert W. D'Loren, Chairman of the Board & Chief Executive Officer
Robert W. D'Loren is the founder of Xcel Brands, established in 2011, and possesses 35 years of experience in the consumer products and media industries. He also chairs IPX Capital, LLC, a consumer products and media investment company, and co-founded KonnectBio, Inc., a livestream and social commerce SAS technology company. Prior to Xcel Brands, D'Loren was the Founder, President, and CEO of NexCen Brands, a global consumer products holding company with nine owned companies and over $1 billion in annual retail sales. He was instrumental in the restructure and recapitalization of Candie's Shoes into Iconix Brand Group, where he also served on the board. His career includes debt and equity investments exceeding $2 billion in entertainment and consumer branded products companies. Earlier in his career, he founded The D'Loren Organization in 1985, an investment and advisory firm responsible for over $2 billion in transactions, and managed over $1 billion in assets as an asset manager for Fosterlane Management.
James F. Haran, Chief Financial Officer and Assistant Secretary, and Principal Financial and Accounting Officer
James F. Haran has served as Xcel Brands' Chief Financial Officer since September 2011. Before joining Xcel Brands, he was CFO of IPX Capital, LLC and its subsidiaries from June 2008 to September 2011. From 2006 to May 2008, he held the position of Executive Vice President, Capital Markets for NexCen Brands, Inc. Haran also served as Chief Financial Officer and Chief Credit Officer for UCC Capital Corporation from 1998 to 2006. His career began as a partner at Sidney Yoskowitz and Company P.C., where he specialized in real estate and financial services companies.
Joe Falco, President, Chief Merchandising Officer
Joe Falco serves as President and Chief Merchandising Officer of Xcel Brands, Inc. He previously served as President of The Isaac Mizrahi Brand, an Xcel Brands entity, since September 2011, and as Chief Merchant from January 2017. He has nearly two decades of experience in managing lifestyle brands and business development. His past roles include President of Misook (a division of HMX) from 2009 to 2010, and Worldwide President and Chief Merchant for Elie Tahari from 2007 to 2009. Falco also held positions as President of Sixty USA from 2005 to 2006 and Senior Vice President for Dolce & Gabbana from 1998 to 2004, overseeing North American development and operations. He started his career at Barneys New York.
Seth Burroughs, Executive Vice President of Business Development and Treasury and Secretary
Seth Burroughs has been the Executive Vice President of Business Development and Treasury since September 2011. He holds a Bachelor of Science degree in economics from The Wharton School of Business at the University of Pennsylvania.
Olin Lancaster, Chief Revenue Officer
Olin Lancaster was appointed Chief Revenue Officer in September 2025 and brings over 30 years of leadership experience in global consumer brands. His career includes senior leadership roles at prominent companies such as Kenneth Cole, DKNY, Global Brands Group, and Ralph Lauren. Most recently, he served as CEO of Meridian Brands, where he successfully managed a significant rebrand, restructuring, and growth strategy. At Ralph Lauren, he was responsible for overseeing a $1.7 billion wholesale business.
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Risk of Nasdaq Delisting
Xcel Brands has repeatedly faced non-compliance issues with Nasdaq Listing Rule 5250(c)(1) due to untimely filing of its annual (Form 10-K) and quarterly (Form 10-Q) reports. While the company has taken steps to address these delinquencies, the ongoing nature of these notifications indicates a persistent risk of potential delisting if full compliance is not maintained within the specified timeframes. This poses a significant threat to the company's ability to remain publicly traded. 2.Significant Financial Deterioration
The company is experiencing substantial financial challenges, including a significant decrease in anticipated revenues for 2024 and ongoing net losses. Xcel Brands exhibits "extremely weak profitability metrics, including negative EBIT, EBITDA, and pretax profit margins," along with "negative cash flow from operations." Its financial health score is rated as "WEAK," with concerns regarding debt levels and cash burn rates, and analysts do not foresee a return to profitability in the near term. 3.Uncertainty of Novel Business Approach and Brand Integration
Xcel Brands operates with a "completely new approach to selling and marketing its products" through an "asset-light model" focused on licensing and live-stream direct-to-consumer sales. This innovative, but "untested novel business approach," carries a "high risk of uncertainty and failure." Additionally, with multiple brands acquired recently, the company has "limited experience" integrating these new assets, and there are "Digital Streaming Risks" that could threaten licensing scale.AI Analysis | Feedback
The increasing prevalence and success of direct-to-consumer (DTC) brands that leverage agile digital marketing, social commerce, and influencer partnerships to build strong customer relationships and achieve sales without relying on traditional wholesale, brick-and-mortar retail, or interactive television channels. This trend could challenge Xcel Brands by potentially reducing the pool of attractive established brands available for acquisition that fit their existing multi-channel distribution model, and by increasing competitive pressure on their portfolio brands if they continue to rely heavily on less agile or higher-cost traditional distribution methods.
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Xcel Brands (XELB) operates in several consumer product categories with significant addressable markets. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, and home goods. Below are the estimated market sizes for these key product areas:
Addressable Markets for Xcel Brands' Main Products or Services:
-
Apparel:
- The global apparel market was valued at approximately USD 1.8 trillion in 2024 and is projected to reach around USD 2.5 trillion by 2034.
- In the U.S., the apparel market was valued at approximately USD 420 billion in 2024 and is anticipated to grow to USD 458.48 billion by 2035.
-
Footwear:
- The global footwear market size was estimated at USD 476.83 billion in 2025 and is projected to reach USD 675.56 billion by 2033.
- The U.S. footwear market generated a revenue of USD 94.54 billion in 2024 and is expected to reach USD 117.38 billion by 2030.
-
Fashion Accessories:
- The global fashion accessories market size was around USD 799.18 billion in 2024 and is projected to reach USD 1490.22 billion by 2034.
- The U.S. fashion accessories market generated a revenue of USD 222.07 billion in 2024 and is expected to reach USD 342.99 billion by 2030.
-
Jewelry:
- The global jewelry market size was estimated at USD 389.13 billion in 2024 and is predicted to grow to around USD 649.51 billion by 2034.
- The U.S. jewelry market size was valued at USD 78.40 billion in 2024 and is projected to hit USD 97.62 billion by 2030.
-
Home Goods (Home Decor):
- The global home decor market was valued at USD 960.14 billion in 2024 and is projected to reach USD 1,622.90 billion by 2030.
- The U.S. home decor market generated a revenue of USD 237.87 billion in 2024 and is expected to reach USD 392.56 billion by 2030.
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Xcel Brands (XELB) is expected to drive future revenue growth over the next two to three years through several key strategies:
-
Launch and Expansion of New Creator-Influencer Brands: The company is actively introducing new creator-influencer brands, such as those with Cesar Millan, Gemma Stafford, Jenny Martinez, and Coco Rocha, which were announced in Q2 2025. This strategy diversifies Xcel Brands' portfolio into new categories and retail distribution channels and reduces risk to tariff volatility. The company also maintains a strong pipeline of additional new creator-influencer brands expected to drive future growth.
-
Leveraging Increased Social Media Reach and Social Commerce: Xcel Brands has significantly expanded its social media presence, growing its total social media reach across its brand portfolio from 5 million followers at the beginning of 2025 to 43 million by Q2 2025. This substantial increase in engagement is anticipated to translate into greater brand visibility and sales through social commerce and livestream shopping, areas where the company possesses significant expertise.
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Growth Initiatives for Core Brands: Xcel Brands is focused on revitalizing and expanding its established brands. For instance, the Longaberger brand is slated to launch on QVC in the fall of 2025, following a partnership with "At Home with Shannon" to usher in a new era for the brand. Additionally, despite past underperformance, the Halston brand is undergoing merchandising and design adjustments by its licensee, G-III, with Xcel Brands anticipating further growth for Halston in 2026.
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Share Issuance
- Xcel Brands entered into a private investment in public equity (PIPE) on December 17, 2025, expected to raise approximately $2.05 million gross before fees through the issuance of 1,670,055 shares of common stock (or pre-funded warrants) and common stock purchase warrants. The proceeds are intended for general corporate purposes and working capital.
- The company announced a public offering and concurrent management-led private placement on August 1, 2025, anticipated to generate approximately $2.6 million in gross proceeds. This involved issuing 2,181,818 shares of common stock in the public offering and 145,147 unregistered shares to insiders. The net proceeds are slated for brand development and launch, working capital, and other general corporate purposes.
- Stockholders approved a warrant exercise allowing stock issuance exceeding 19.99% at a Special Meeting held on June 17, 2025.
Inbound Investments
- A private investment in public equity (PIPE) on December 17, 2025, is expected to bring in approximately $2.05 million in gross proceeds for general corporate purposes and working capital.
- A public offering and concurrent private placement on August 1, 2025, were projected to raise approximately $2.6 million in gross proceeds for brand development, working capital, and other general corporate uses.
- Xcel Brands partnered with China's United Trademark Group as a strategic partner, as announced on April 22, 2025.
Outbound Investments
- Xcel Brands recognized losses related to its equity investments in unconsolidated affiliates, IM Topco, LLC and ORME Live Inc., amounting to approximately $5.49 million for the quarter ending September 30, 2025. This included a non-cash impairment charge due to the disposition of the remaining equity interest in IM Topco, which closed in October 2025.
- Effective April 15, 2025, Xcel transferred equity interests representing 12.5% of the outstanding equity interests of IM Topco LLC, reducing its overall interest in IM Topco from 30% to 17.5%.
- The divestiture of the Lori Goldstein brand in the second quarter of 2025 contributed to a 55% year-over-year revenue decrease.
Peer Outperformance in Apparel, Accessories & Luxury Goods
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -17.9% | 77.7% | 73.5% | LINC 317% · PRDO 233% · CVSA 232% |
| Homebuilding | 18 | -12.1% | 31.0% | 49.1% | GRBK 198% · PHM 161% · TOL 134% |
| Specialty Stores | 7 | 2.1% | 42.3% | 10.5% | SIG 35% · FIVE 26% · ASO 18% |
| Home Improvement Retail | 5 | -25.9% | -3.0% | 1.9% | HVT 14% · LOW 3% · HD 2% |
| Hotels, Resorts & Cruise Lines | 22 | 11.4% | 46.9% | 1.2% | RCL 207% · MAR 149% · HLT 143% |
| Automotive Retail | 18 | -20.6% | -2.8% | 0.9% | MUSA 237% · PAG 149% · ORLY 109% |
| Distributors | 4 | -12.0% | -25.6% | -11.8% | ARMK 162% · GPC 22% · LKQ -46% |
| Home Furnishings | 4 | -6.3% | 21.5% | -13.8% | SGI 38% · LZB 2% · MHK -30% |
| Specialized Consumer Services | 10 | -16.9% | 17.6% | -18.3% | HRB 109% · FTDR 76% · SCI 39% |
| Footwear | 9 | 52.2% | 45.9% | -19.8% | WEYS 161% · SHOO 16% · DECK 11% |
| Restaurants | 35 | -15.0% | -17.9% | -20.2% | EAT 308% · CAKE 151% · RAVE 146% |
| Leisure Products | 13 | -24.9% | -21.7% | -34.7% | GOLF 74% · HAS 15% · MCFT -17% |
| Leisure Facilities | 11 | -0.2% | 0.1% | -37.1% | OSW 130% · JAKK 121% · ESCA 29% |
| Apparel, Accessories & Luxury Goods ← | 27 | -13.2% | 2.9% | -37.2% | TPR 240% · RL 236% · ELA 204% |
| Automotive Parts & Equipment | 38 | -15.3% | -15.4% | -40.0% | MOD 1623% · GTX 304% · STRT 87% |
| Casinos & Gaming | 20 | -13.6% | -28.3% | -41.9% | MCRI 114% · RRR 37% · BYD 27% |
| Household Appliances | 18 | -7.0% | 12.7% | -43.4% | FLXS 170% · KEQU 159% · HBB 132% |
| Apparel Retail | 25 | -8.9% | 10.2% | -44.4% | ANF 260% · URBN 134% · ROST 110% |
| Computer & Electronics Retail | 3 | -13.2% | 33.0% | -52.3% | BBY 10% · GME -52% · UPBD -63% |
| Broadline Retail | 15 | -1.2% | 14.3% | -56.8% | DDS 310% · EBAY 69% · AMZN 52% |
| Automobile Manufacturers | 8 | -78.7% | -51.2% | -71.9% | GM 74% · TSLA 48% · F 41% |
| Consumer Electronics | 11 | -14.1% | -17.2% | -75.4% | AXIL 2829% · GRMN 83% · MSN -57% |
| Other Specialty Retail | 18 | -37.2% | -46.6% | -78.4% | TLF 114% · BBW 72% · WINA 57% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.29 |
| Mkt Cap | 3.0 |
| Rev LTM | 2,741 |
| Op Inc LTM | 209 |
| FCF LTM | 224 |
| FCF 3Y Avg | 187 |
| CFO LTM | 264 |
| CFO 3Y Avg | 219 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.6% |
| Rev Chg 3Y Avg | -0.8% |
| Rev Chg Q | -2.2% |
| QoQ Delta Rev Chg LTM | -0.6% |
| Op Inc Chg LTM | 11.0% |
| Op Inc Chg 3Y Avg | 7.3% |
| Op Mgn LTM | 7.6% |
| Op Mgn 3Y Avg | 8.3% |
| QoQ Delta Op Mgn LTM | 1.0% |
| CFO/Rev LTM | 9.6% |
| CFO/Rev 3Y Avg | 9.5% |
| FCF/Rev LTM | 8.0% |
| FCF/Rev 3Y Avg | 7.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Design and licensing of branded apparel, jewelry, and similar consumer products | 5 | 8 | |||
| Net licensing revenue | 9 | 15 | 22 | ||
| Net sales | 9 | 11 | 16 | ||
| Total | 5 | 8 | 18 | 26 | 38 |
| $ Mil | 2013 |
|---|---|
| Design and licensing | 2 |
| Retail | -0 |
| Total | 2 |
| $ Mil | 2005 |
|---|---|
| IT Services | 13,594 |
| VoIP | 892 |
| Total | 14,486 |
Price Behavior
| Market Price | $0.86 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -64.6% | |
| 50 Days | 200 Days | |
| DMA Price | $1.07 | $1.53 |
| DMA Trend | down | down |
| Distance from DMA | -19.7% | -43.9% |
| 3M | 1YR | |
| Volatility | 100.8% | 114.2% |
| Downside Capture | 455.77 | 207.19 |
| Upside Capture | -46.79 | 115.86 |
| Correlation (SPY) | 8.3% | 15.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.37 | 1.47 | 1.34 | 1.55 | 1.46 | 1.55 |
| Up Beta | -2.48 | -1.06 | -0.06 | 0.99 | 1.23 | -1.29 |
| Down Beta | -16.14 | -1.89 | 0.69 | -0.71 | 1.12 | 1.40 |
| Up Capture | 82% | 20% | -5% | 195% | 146% | 566% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 16 | 24 | 54 | 109 | 314 |
| Down Capture | 724% | 527% | 317% | 229% | 157% | 113% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 26 | 39 | 70 | 134 | 403 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XELB | |
|---|---|---|---|---|
| XELB | -40.4% | 114.3% | 0.07 | - |
| Sector ETF (XLY) | -7.6% | 19.5% | -0.53 | 13.1% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 15.6% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 9.8% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -4.7% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | -0.3% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 9.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XELB | |
|---|---|---|---|---|
| XELB | -44.4% | 474.8% | 0.36 | - |
| Sector ETF (XLY) | 4.8% | 24.1% | 0.16 | 5.6% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 4.4% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 1.3% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 0.5% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | -0.5% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 2.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XELB | |
|---|---|---|---|---|
| XELB | -33.0% | 343.0% | 0.29 | - |
| Sector ETF (XLY) | 11.8% | 22.2% | 0.49 | 6.4% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 5.5% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 1.3% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 2.0% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 2.1% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 2.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/19/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/15/2025 | 6.5% | 21.3% | 39.8% |
| 7/24/2024 | 2.6% | 2.1% | 2.1% |
| 4/19/2024 | -0.3% | -2.0% | -1.8% |
| 8/15/2023 | 6.8% | -12.4% | -28.8% |
| 11/17/2022 | -3.4% | -1.2% | -5.9% |
| 8/17/2022 | 0.0% | -5.0% | -12.5% |
| 4/20/2022 | 0.6% | -18.5% | -26.5% |
| 11/18/2021 | -2.1% | -6.3% | -18.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 5 | 5 |
| # Negative | 3 | 7 | 7 |
| Median Positive | 2.6% | 13.8% | 5.8% |
| Median Negative | -2.1% | -5.0% | -18.9% |
| Max Positive | 13.0% | 24.5% | 39.8% |
| Max Negative | -3.4% | -18.5% | -28.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/15/2025 | 6.5% | 21.3% | 39.8% |
| 7/24/2024 | 2.6% | 2.1% | 2.1% |
| 4/19/2024 | -0.3% | -2.0% | -1.8% |
| 8/15/2023 | 6.8% | -12.4% | -28.8% |
| 11/17/2022 | -3.4% | -1.2% | -5.9% |
| 8/17/2022 | 0.0% | -5.0% | -12.5% |
| 4/20/2022 | 0.6% | -18.5% | -26.5% |
| 11/18/2021 | -2.1% | -6.3% | -18.9% |
| 8/17/2021 | 3.0% | 7.2% | 3.6% |
| 5/18/2021 | 13.0% | 24.5% | 5.8% |
| 11/16/2020 | 2.2% | 13.8% | 26.5% |
| 8/24/2020 | 1.3% | -3.4% | -19.3% |
| SUMMARY STATS | |||
| # Positive | 9 | 5 | 5 |
| # Negative | 3 | 7 | 7 |
| Median Positive | 2.6% | 13.8% | 5.8% |
| Median Negative | -2.1% | -5.0% | -18.9% |
| Max Positive | 13.0% | 24.5% | 39.8% |
| Max Negative | -3.4% | -18.5% | -28.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/19/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 06/04/2025 | 10-Q |
| 12/31/2024 | 05/28/2025 | 10-K |
| 09/30/2024 | 12/20/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 04/19/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/18/2023 | 10-Q |
| 12/31/2022 | 04/17/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 04/15/2026 | 10-K |
| 09/30/2025 | 11/19/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 06/04/2025 | 10-Q |
| 12/31/2024 | 05/28/2025 | 10-K |
| 09/30/2024 | 12/20/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 04/19/2024 | 10-K |
| 09/30/2023 | 11/20/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/18/2023 | 10-Q |
| 12/31/2022 | 04/17/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/23/2022 | 10-Q |
| 12/31/2021 | 04/15/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 04/23/2021 | 10-K |
| 09/30/2020 | 11/13/2020 | 10-Q |
| 06/30/2020 | 08/19/2020 | 10-Q |
| 03/31/2020 | 05/19/2020 | 10-Q |
| 12/31/2019 | 04/14/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Insider Activity
Updated 9/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8312026 | 0.95 | 3,500 | 3,342 | 764,684 | Form |
| 2 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8312026 | 0.95 | 2,000 | 1,910 | 761,341 | Form |
| 3 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8272026 | 0.95 | 10,000 | 9,550 | 759,431 | Form |
| 4 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8252026 | 0.88 | 10,000 | 8,750 | 687,064 | Form |
| 5 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8252026 | 0.87 | 12,000 | 10,428 | 673,663 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8312026 | 0.95 | 3,500 | 3,342 | 764,684 | Form |
| 2 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8312026 | 0.95 | 2,000 | 1,910 | 761,341 | Form |
| 3 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8272026 | 0.95 | 10,000 | 9,550 | 759,431 | Form |
| 4 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8252026 | 0.88 | 10,000 | 8,750 | 687,064 | Form |
| 5 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 8252026 | 0.87 | 12,000 | 10,428 | 673,663 | Form |
| 6 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 12192025 | 1.17 | 81,466 | 94,908 | 800,701 | Form |
| 7 | D, Loren Robert W | CEO and Chairman | Direct | Buy | 12052025 | 0.35 | 50,000 | 17,500 | 212,041 | Form |
| 8 | Disanto, Mark | See Footnote | Buy | 12052025 | 0.35 | 50,000 | 17,500 | 117,956 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Apparel, Accessories & Luxury Goods Resources |
| Vogue Business |
| Jing Daily |
| Luxury Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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