PLBY Group (PLBY) said Thursday it has decided to keep its Honey Birdette lingerie business after "meaningful" improvement in operational metrics for the business unit, coupled with future growth prospects for the company after the closing of a long-term license agreement with Byborg Enterprises.
PLBY, owner of "Playboy," said it is now expecting to generate around $120 million in total 2025 revenue, being cash flow positive. The company also expects to reduce its senior debt to less than $100 million by the end of the year.
Shares of PLBY Group were up by nearly 2% in recent early Thursday trading.
Price: 1.66, Change: +0.03, Percent Change: +1.96
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