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.
Destination XL Group, Inc. (DXLG) reported first-quarter fiscal 2021 results, showing total sales of $111.5 million, up 94.8% from fiscal 2020 and 3.7% from fiscal 2019. Net income reached $8.7 million or $0.14 per diluted share, reversing losses from prior years. Adjusted EBITDA was $13.7 million, compared to $(18.9) million in 2020. The company raised its fiscal 2021 sales guidance to $415-435 million amid improving business performance, despite potential COVID-19 impacts. Cash flow from operations was $7.8 million, signifying significant improvement.
Destination XL Group, Inc. (DXLG) will release its first quarter 2021 financial results on May 27, 2021, before market opening. Following this, a conference call hosted by CEO Harvey Kanter and CFO Peter Stratton is scheduled for 9:00 a.m. ET to discuss the results. Investors can access the live webcast on the company’s website or by calling (866) 680-2311 with conference ID 8648163. Destination XL Group is a specialty retailer focused on Big + Tall men's clothing, with a significant omni-channel presence.
Destination XL Group has appointed Elaine Rubin to its Board of Directors, increasing the board to seven members. Rubin, a digital commerce expert and the founder of Digital Prophets Network, brings over 25 years of e-commerce experience. She has previously held leadership roles at 1800flowers.com, iVillage.com, and amazon.com. Her expertise is expected to significantly aid DXL's ongoing digital transformation strategy, enhancing the company’s growth opportunities in the retail sector.
Pathlight Capital has announced it will act as the FILO Agent for a $17.5 million term loan facility for Destination XL Group, Inc. (DXLG), the leading omni-channel retailer of big and tall men's apparel. The FILO loan, maturing on March 16, 2026, aims to refinance existing debts and enhance liquidity for operational needs. CFO Peter Stratton highlighted the company's strategic realignment post-pandemic, emphasizing improved cost structure and operational leverage. Pathlight Capital expresses confidence in DXL's unique market position and loyal customer base.
Destination XL Group, Inc. (DXLG) reported challenging financial results for fiscal year 2020, with total sales of $318.9 million, down 32.7% from $474.0 million in 2019. The fourth quarter saw sales of $100.1 million, a 23.7% decline year-over-year. Net losses reached $(64.5) million for the year, compared to $(7.8) million in the prior year. Despite these setbacks, DXL.com grew sales by 38.6%. The company raised $5.0 million in a direct offering, aiming for liquidity and digital growth in 2021 while reaffirming expectations to be free cash flow positive.
Destination XL Group (DXLG) announced the promotion of Stacey Jones to Chief Human Resources Officer (CHRO), effective February 21, 2021. Jones has been with the company since 2001, holding various roles, and has significantly contributed to talent management, diversity, and associate engagement. Her leadership during the COVID-19 Pandemic was noted as critical for maintaining company culture and employee well-being. President and CEO Harvey Kanter highlighted her expertise in retail operations as vital for the company’s future.
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.
FAQ
What is the current stock price of Destination Xl (DXLG)?
What is the market cap of Destination Xl (DXLG)?
