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.