Welcome to our dedicated page for Destination Xl news (Ticker: DXLG), a resource for investors and traders seeking the latest updates and insights on Destination Xl stock.
Destination XL Group, Inc. (NASDAQ: DXLG) is a specialty retailer focused on Men’s Big + Tall apparel and footwear, operating DXL Big + Tall and Casual Male XL retail and outlet stores in the United States along with an e-commerce website and mobile app. The DXLG news feed on Stock Titan aggregates company announcements, financial updates, and other disclosures that shape the outlook for this Big + Tall-focused retailer.
Investors and followers of Destination XL Group can use this page to review press releases on quarterly and annual financial results, commentary on sales trends across the Store and Direct segments, and updates on strategic initiatives. These include the company’s emphasis on private brand assortment, its integrated-commerce strategy, and the rollout of its proprietary FiTMAP® Sizing Technology in stores and through the DXL mobile app.
News items also cover corporate developments such as store openings, changes in marketing or promotional strategies, and material agreements. A significant recent theme in DXL’s communications is its definitive agreement to combine with FBB Holdings I, Inc. (FullBeauty) in a merger of equals, which the company describes as creating a scaled retailer focused on inclusive apparel for plus-size women and Big + Tall men, subject to shareholder approval and other closing conditions.
This DXLG news page allows readers to follow how Destination XL Group responds to consumer behavior in the Big + Tall segment, manages its multi-channel operations, and advances its planned combination with FullBeauty. For ongoing context on the company’s performance and strategic direction, users can return regularly to review the latest DXLG headlines and official releases.
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Destination XL Group, Inc. (DXLG) reported record annual sales for fiscal 2022, with total sales reaching $545.8 million, a 10.9% increase in comparable sales. Net income surged to $89.1 million or $1.33 EPS, boosted by a $31.6 million non-recurring tax benefit. Although fourth-quarter sales rose 7.8% to $143.9 million, net income dipped to $8.3 million due to rising SG&A expenses, which accounted for 37.8% of sales. The company anticipates fiscal 2023 sales of $550-$570 million with an adjusted EBITDA margin of 12.5%-13.5%. A new $15 million stock repurchase program was authorized on March 14, 2023.
Destination XL Group (NASDAQ: DXLG) has launched its new Wear What You Want℠ campaign aimed at Big + Tall men, addressing the lack of retail options in this market. This initiative reaffirms DXL's commitment to providing an extensive variety of styles and sizes to meet the needs of this underserved demographic. DXL emphasizes its unique offerings, including unparalleled fit expertise and high-quality products, collectively known as The DXL Factor. The campaign will be promoted across multiple channels, including social media and in-store experiences, encouraging Big + Tall men to express their personal style.
Destination XL Group, Inc. (NASDAQ: DXLG) will release its fourth quarter and fiscal 2022 financial results before the market opens on March 16, 2023. Following the announcement, a live conference call will be hosted on the same day at 9:00 a.m. ET by CEO Harvey Kanter and CFO Peter Stratton to discuss the results. Investors can join via conference call or webcast, with a replay available online afterwards. Destination XL is a leading retailer specializing in Big + Tall men's apparel, operating numerous stores and an e-commerce platform across the United States.
Destination XL Group, Inc. (NASDAQ: DXLG) has appointed Dara Pauker as Chief Operating Officer, effective January 27, 2023. With over 20 years of experience, Pauker has worked on a strategic growth plan for the company since December 2021. Prior to joining DXL, she operated her consultancy and held senior roles at notable companies including ghd and Liz Claiborne. CEO Harvey Kanter expressed confidence in Pauker's strategic skills and her commitment to driving growth initiatives at DXL. The company focuses on providing an extensive selection of Big + Tall apparel through various retail and digital channels.
Destination XL Group (NASDAQ: DXLG) reported holiday sales of $111.7 million, up from $106.6 million year-on-year. Comparable sales increased 7.5%, driven by an 8.9% rise in stores and 4.9% in direct business. The company updated its 2022 sales guidance to $540-545 million, reflecting strong performance. Additionally, DXL will launch exclusive merchandise brands, Life is Good and Original Penguin Golf, in Spring 2023. Adjusted EBITDA margins remain unchanged at 12.5-13.5%. Financial results will be reported on March 16, 2023.