Destination XL news and archive

Destination XL gets takeover bid from Fund 1 Investments

Destination XL Group confirms receipt of a non-binding proposal from Fund 1 Investments to acquire all of the outstanding shares of the company. The company said in a release that its board of directors regularly reviews opportunities to create and enhance shareholder value and will carefully review and evaluate this proposal and other strategic...

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Destination XL: Q2 sale decline by 10.9 percent, cuts outlook

Total sales for the second quarter at Destination XL were 124.8 million dollars, down 10.9 percent. Comparable sales for the quarter also decreased by 10.9 percent. Based on the current sales trends, DXL is guiding to sales of 470 million dollars to 490 million dollars and an adjusted EBITDA margin of approximately 6 percent, a decrease from our...

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Destination XL revises outlook after challenging Q1

Destination XL, big + tall men’s clothing and shoes retailer reported sales for the first quarter were 115.5 million dollars, down 7.9 percent with a comparable sales decrease of 11.3 percent. Net income for the quarter was 6 cents per diluted share, and adjusted EBITDA declined to 8.2 million dollars or 7.1 percent of sales. “We expected fiscal...

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Destination XL outlines growth strategy after challenging FY23

Specialty retailer Destination XL Group reported its financials for the fourth quarter and fiscal 2023 ahead of what is to be a year defined by “ambitious” strategic growth initiatives that aim to unlock the potential of its respective men’s big and tall market. For the fourth quarter, the 14-week period of fiscal 2023, total sales came to 137.1...

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Destination XL extends CEO Harvey Kanter's term till August 2026

Destination XL Group, Inc. has extended the term of Harvey S. Kanter’s role as the company’s president and CEO. Commenting on the development, Lionel Conacher, chairman of the company’s board, said in a statement: “We are extremely pleased that Harvey has agreed to continue to lead our company into at least mid-August 2026.” “The company has...

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Destination XL sales marginally drop in light of ‘broader macro headwinds’

Destination XL group, the specialty retailer of Big + Tall men’s clothing and shoes, has outlined its operating results for Q1 of FY23, where its sales marginally dropped by 1.7 percent, from 127.7 million dollars in the same period of 2022 to 125.4 million dollars. Sales began strong in the quarter, with a 9.1 percent increase in February,...

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Destination XL's Q4 comparable sales increase by 10.8 percent

For the fourth quarter of fiscal 2022, total sales were 143.9 million dollars compared to 133.5 million dollars for the fourth quarter of fiscal 2021. Comparable sales for the quarter increased 10.8 percent, driven by a 13.2 percent comparable sales increase from stores and a 6.2 percent increase in the direct business. For fiscal 2022, total...

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Destination XL posts comparable sales increase of 7.5 percent

For the nine week holiday period, Destination XL Group, Inc. reported total sales of 111.7 million dollars compared to 106.6 million dollars for the same period last year. Comparable sales for the period increased 7.5 percent, with a comparable sales increase of 8.9 percent from stores and 4.9 percent from the direct business. Based on the...

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James Reath to join Destination XL as chief marketing officer

Destination XL Group, Inc. has announced that James Reath will join its team as chief marketing officer on September 26, 2022. Reath will replace Ujjwal Dhoot, who is leaving the company effective October 11, 2022. The company said in a release that Reath brings over 20 years of marketing leadership experience with a particular focus on...

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Destination XL's Q4 sales increase by 33.3 percent

Destination XL Group, Inc. reported fourth quarter sales of 133.5 million dollars, up 33.3 percent from fiscal 2020 and up 1.7 percent from fiscal 2019. Comparable sales increased 41.5 percent compared to fiscal 2020 and 9.4 percent as compared to fiscal 2019. “This has been a historic year for DXL as we exceeded 500 million dollars in sales for...

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Destination XL appoints Carmen Bauza to its board of directors

Destination XL Group, Inc. has appointed Carmen R. Bauza, 59, to the company’s board of directors. The company said she will serve as a director until the company’s next annual meeting of stockholders, at which time she will stand for re-election. With her appointment, the size of the company’s board is seven members. Bauza is currently on the...

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Destination XL says per share earnings to range between 4 to 6 cents for Q4

Destination XL Group, Inc., in its preliminary report, announced that net income for the fourth quarter is expected to range from 4 cents to 6 cents per diluted share compared to the prior-year fourth quarter’s net loss of 15 cents per diluted share. On a non-GAAP basis, the company expects net income to range from 4 cents to 6 cents per diluted...