Destination Xl Stock Price, News & Analysis

Destination XL Group, Inc. (OTCQX: DXLG) will release its fourth quarter and fiscal 2020 financial results on March 18, 2021, prior to market opening. CEO Harvey Kanter and CFO Peter Stratton will host a conference call at 9:00 a.m. ET to discuss these results. Investors can access the live webcast via the company's Investor Relations page, or by calling (866) 680-2311 (conference ID: 7675808). The company's operations include DXL Big + Tall stores and e-commerce offerings at DXL.com, making it the largest omni-channel specialty retailer for big and tall men's clothing.

Destination XL Group, Inc. (DXLG) has announced a stock purchase agreement with an institutional investor for 11,111,111 shares at $0.45 each, generating gross proceeds of approximately $5 million. The sale is set to close around February 9, 2021, pending customary conditions. The funds will be utilized for working capital and corporate purposes. The offering is conducted under an effective shelf registration statement with the SEC, with D.A. Davidson & Co. serving as the placement agent.

Destination XL Group (NASDAQ: DXLG) is optimistic about recovery in fiscal 2021 after navigating challenges from the COVID-19 pandemic. CEO Harvey Kanter highlighted actions taken in 2020 to manage inventory and costs, preserving liquidity with $20.6 million in cash and $13.6 million available credit. The company is transferring to the OTCQX market and plans to release detailed financial targets in mid-January. DXL.com sales increased by 41% compared to 2019, while in-store traffic is expected to recover modestly.

Destination XL Group (DXLG) plans to voluntarily delist its common stock from Nasdaq due to noncompliance with listing requirements, including equity and bid price issues. As of October 31, 2020, DXLG's stockholders' equity was $1.2 million, below the minimum of $2.5 million required. A significant impairment charge of $12.5 million, triggered by COVID-19 and lease accounting rules, impacted equity levels. The company anticipates filing Form 25 for delisting on December 21, 2020, with trading expected to shift to OTCQX effective December 22.

Destination XL Group, Inc. (NASDAQ: DXLG) reported third-quarter results for fiscal 2020, with total sales declining by 20.1% to $85.2 million. The company experienced a net loss of $(7.0) million and adjusted EBITDA of $(1.7) million. However, the online segment showed resilience, with direct sales increasing by 18.2%, led by a 28.4% rise at DXL.com. Cost-saving measures resulted in a 22.1% reduction in SG&A expenses. As of October 31, 2020, DXLG held $21.4 million in cash and $82.9 million in total debt, maintaining a focus on liquidity amid ongoing pandemic challenges.

Destination XL Group, Inc. (NASDAQ: DXLG) will announce its Q3 2020 financial results on November 20, 2020, before market opening. CEO Harvey Kanter and CFO Peter Stratton will discuss the results in a conference call at 9:00 a.m. ET. Investors can listen via the company's website or by calling (866) 680-2311 with conference ID: 1282108. Destination XL is the largest specialty retailer of big & tall men's apparel, operating DXL and Casual Male stores, as well as e-commerce platforms like DXL.com.

Destination XL Group, Inc. (NASDAQ: DXLG) will release its Q2 2020 financial results on August 27, 2020, before market opening. A conference call hosted by CEO Harvey Kanter and CFO Peter Stratton will follow at 9:00 a.m. ET to discuss the results. Investors can access the live call via the Company's website or by dialing (866) 680-2311 with conference ID: 8157438. Destination XL is the largest retailer for big & tall men's apparel in the U.S. and operates multiple brands and e-commerce sites, focusing on enhancing the shopping experience for its customers.

Destination XL Group (Nasdaq: DXLG) has promoted Ujjwal Dhoot to Chief Marketing Officer effective August 2, 2020. Previously serving as Chief Digital Officer, Dhoot will now oversee brand positioning and marketing initiatives across DXL's digital platforms and over 320 stores. He joined DXL in December 2019, navigating marketing efforts during the pandemic. Dhoot aims to leverage data for personalized marketing and enhance customer engagement. CEO Harvey Kanter praised Dhoot’s marketing skills, emphasizing the company's commitment to serving the Big + Tall consumer market.

Destination XL Group reported a first-quarter net loss of $(41.7) million compared to $(3.1) million in the previous year, reflecting the impact of COVID-19. Total sales fell 49.3% to $57.2 million, while adjusted EBITDA was $(18.9) million, down from $4.8 million last year. As of June 2, 2020, 201 stores were operational, with comparable sales improving from a 70-80% decline to 40%. The company reported a cash balance of $26.1 million and total debt of $96.5 million.