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. reports developments as an integrated commerce retailer focused on Big + Tall men's apparel and footwear. The company operates DXL Big + Tall retail and outlet stores, Casual Male XL stores, DXL.com and a mobile app, with a merchandising model that includes national brands, private brands and fit-related technology such as FiTMAP®.
Recurring news for DXLG covers quarterly and fiscal results, earnings calls, assortment strategy, store and digital commerce updates, product and technology launches, and corporate disclosures tied to material agreements, capital structure, governance and shareholder voting matters.
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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.
Destination XL Group (DXLG) reported strong third-quarter results for fiscal 2022, with total sales of $129.7 million, reflecting a 6.7% increase from the previous year. Comparable sales rose 8.7%, led by a 10.1% increase in store sales. Net income was $10.5 million ($0.16 per diluted share), down from $13.7 million ($0.20 per diluted share). The company raised its sales guidance for fiscal 2022 to a range of $535 million to $545 million, anticipating adjusted EBITDA margins of 12.5% to 13.5%.